• 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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RE/MAX for sale sign, Miracle Homes, Stollery Children's Hospital, Edmonton Realtor, Edmonton buy and sell homes

Being an Edmonton Realtor is more than helping people buy and sell homes – it’s also about giving back to the community. One of my favourite ways to do this is to make all of my listings a Miracle Home.

What is a Miracle Home? It is a house on the market that when sold, a part of the sale is donated to the Children’s Miracle Network. You can recognize a Miracle Home by the yellow balloon and purple teddy bear on the For Sale sign.

The Children’s Miracle Network is a non-profit that raises funds for 170 children’s hospitals across Canada and the United States. The Children’s Miracle Network distributes the donations to local member hospitals to provide funds to help save and improve the lives of millions of children.  

As a RE/MAX Realtor, I was surprised to know that only RE/MAX provides Miracle Homes and is also Canada’s largest contributing sponsor to the Children’s Miracle Network, donating more than $64 million to this great cause.

In Edmonton, RE/MAX Realtors’ support goes specifically to the Stollery Children’s Hospital. In 2016, Edmonton RE/MAX realtors and home owners donated $450,000, and since 1992 they have donated more than $5 million!

The Stollery Children’s Hospital provides specialized and acute care for children of all ages from premature babies to older teens throughout Western Canada. The Stollery is a leader in saving lives and providing remarkable treatment for children who are critically ill or injured.  Each year the Stollery cares for more than 215,000 patients. Donations provide state-of-the-art equipment, research funds, training opportunities, in-hospital programs for kids to play like kids again, and so much more. Miracle Homes improve the lives of children in our community by providing them with world-class care when they need it most.

There are countless stories of how the lives of children and their families are greatly improved because of the care they receive at the Stollery Children’s Hospital. Samantha Roth is one parent who shares, “When Liam was 16 months old he was diagnosed with Type 1 diabetes at another hospital where the care he received was confusing and slow. When we moved to Edmonton and transferred his care to the Stollery, they went above and beyond our expectations. They take the time to listen to our concerns and are extremely supportive. If we ever moved away from Edmonton, I would keep Liam’s care at the Stollery and drive hours and hours for his appointments.”

Since the Stollery Children’s Hospital greatly improves the lives of numerous children, I’m going to continue to sell homes with the yellow balloon and purple teddy bear on the For Sale sign so that miracles will continue to happen.

If you are thinking of selling in the near future, please feel free to contact me to discuss your goals.

I am here to help!

Alison Murray

780-619-9812

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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.