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October 2020 Market Update
Dated: November 13 2020
All residential average prices are up to $382,060, a 7.97% increase from October 2019, and up 1.50% from September 2020. Single family homes sold for an average of $442,854. Condominiums sold for an average of $231,608, a 1.67% increase year-over-year.
“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 October 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. We’re pleased to see year-over-year increases in pricing across all markets, with single family home pricing up 5.05%, duplexes up 2.34%, and condos up 1.67%.”
Single family homes averaged 47 days on the market, a thirteen-day decrease from last year. Condos decreased to an average of 58 days on the market, an eighteen-day decrease from October 2019. Overall, all residential listings averaged 50 days on market, decreasing by 15 days on market year-over-year and three days compared to the previous month.
Information in this article orignally posted and cited from Realtors of Edmonton - Monthly Market Statistics Update
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