• Edmonton Home & Condo Specialist
    Edmonton Home & Condo Specialist



Pent-up demand, and home is more important than everResidential Unit Sales up 35.55% compared to September 2019.



Most buyers who had planned to purchase in the spring put their plans on hold during March, April and May. More people are now becoming comfortable resuming their search, due to lifting restrictions, more safety precautions, and 3D home tours. Due to the pent-up demand and record low interest rates, the Edmonton real estate market saw an increase in sales this summer, which carried right into September.
 
While the market hasn't yet settled into a 'new normal', and the pandemic has had a severe impact on oil prices and employment, spending time in a home you love is more important than ever.
Good news: The numbers of purchases are back in line with previous years. However, some sub-markets have varied with pricing from last year.
 
See the full REALTORS Association of Edmonton report below for September's stats.


Total residential unit sales in the Edmonton Census Metropolitan Area (CMA) real estate market for September 2020 increased 35.55% compared to September 2019 and decreased 0.21% from August 2020. The number of new residential listings is up year over year, increasing 10.37% from September 2019. New residential listings are up month over month, increasing 5.90% from August 2020. Overall inventory in the Edmonton CMA fell 15.15% from September of last year and decreased 4.04% from August 2020.

For the month of September, single family home unit sales are up 42.79% from September 2019 and stayed the same as August 2020 at 1,188. Condo unit sales increased 7.26% from September 2019 and decreased 2.21% from August 2020.

All residential average prices are up to $376,571, a 7.14% increase from September 2019, and up 0.54% from August 2020. Single family homes sold for an average of $440,020, a 4.73% year-over-year increase from September 2019, and a 0.11% increase from August 2020. Condominiums sold for an average of $232,237, a 6.74% increase year-over-year, and prices are up 1.34% compared to August 2020. Duplex prices dropped 0.89% from September 2019, selling at $340,519, which was a 0.58% decrease from August 2020.

“The Edmonton market has seen an increase in year-over-year unit sales, compared to a slight decrease in month to month sales,” says REALTORS® Association of Edmonton Chair Jennifer Lucas. “There have also been more sales of single-family homes, condos and duplexes compared to September of last year, while we’ve seen stable or decreasing month over month sales in all markets, which is typical for this time of year. Single family home pricing increased 4.73%, duplexes are down 0.89%, and condos are up 6.74% year-over-year.”

Single family homes averaged 47 days on the market, a twelve-day decrease from last year. Condos decreased to an average of 65 days on the market while duplexes averaged 52 days on market, a fifteen-day decrease compared to September 2019. Overall, all residential listings averaged 53 days on market, decreasing by 10 days on market year-over-year and one day compared to the previous month.


Edmonton, October 2, 2020: 

MLS® System Activity 2020  
September 2020
 
M/M % Change
 
Y/Y % Change
(for all-residential sales in Edmonton CMA1)      
SFDaverage3 selling price – month $440,020 0.11% 4.79%
SFD median4 selling price – month $400,000 -2.44% 4.79%
Condominium average selling price $232,327 1.34% 6.74%
Condominium median selling price $218,000 1.40% 9.00%
All-residential5 average selling price $376,571 0.54% 7.14%
All-residential median selling price $353,000 -0.62% 7.56%
# residential listings this month 2,981 5.90% 10.37%
# residential sales this month 1,872 -0.21% 35.55%
# residential inventory at month end 7,248 -4.04% -15.15%
# Total6 MLS® System sales this month 2,386 0.00% 39.04%
$ Value Total residential sales this month $736,447,527 0.30% 44.80%
$ Value of total MLS® System sales – month $880,354,871 -0.09% 46.05%
$ Value of total MLS® System sales - YTD $5,887,591,108 17.49% 1.28%



(REALTORS ASSOCIATION OF EDMONTON MEDIA RELEASE)

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Copyright 2020 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.