Edmonton’s housing market stayed consistent for another month, while the St. Albert market saw a noticeable drop in sales.
Latest real estate figures show that year-over-year sales in Edmonton have risen slightly and that prices are holding for October.
All residential unit sales in October were up by 5.5 per cent over last year. Single-family home sales increased by 7.1 per cent, while condo sales were down 3.9 per cent year-over-year. Duplex and rowhouse sales climbed 17.4 per cent.
“The housing market in Edmonton continues to experience relative stability, with increased sales and steady prices year-over-year for October,” said Steve Sedgwick, chair of the Realtors Association of Edmonton. “We typically see the market slow during the colder months, so it is encouraging to see us moving into late fall with strong numbers.”
The average price of a single-family home in the Edmonton region was $423,755, which is down 1.6 per cent from September and down 1.75 per cent from this time last year. Condos were up 0.5 per cent year-over-year and down 2.3 per cent over last month. Multi-family homes also decreased 7.7 per cent from the previous month and 6.9 per cent from October 2015.
Despite year-to-date residential sales being down six per cent compared to last year, Sedgwick said the market is set for a solid finish, with prices remaining relatively unchanged.
“We’re seeing buyers who are confident in the future of the Alberta economy,” said Sedgwick.
In St. Albert, where prices are higher (average of $489,618), sales dropped by 18 per cent year-over-year and 38.8 per cent over September.
The average unit price was up 6.9 per cent over last year and six per cent over last month.
Condos were up 13.3 per cent over last year, but down 26.1 per cent from September, while average prices dropped 18.7 per cent year-over-year and 11 per cent over last month.
