Wow, what a year has it been! Despite Alberta's weak economy, Edmonton's housing market seems to remain intact. Overall, all residential properties in Edmonton and surrounding area were down by 2.36% compared to same period last year. On the positive note, we finished the year with low inventory which maybe a sign of improving market conditions for 2020.
The average price for a single family detached home in December of 2019 was $411,317 down by 2.22% from last month and up by 4.08% from December of 2018.The condo prices were also down slightly by 0.46% at $226,943 from $228,113 last month.
Total of 843 residential properties have sold in the last month of 2019, 23.22% less than in November and 9.77% more than in same period last year. The inventory decreased to 5,961 residential properties available compared to 7,923 last months and 6,394 in November of 2018. Average Days-On-Market were same as in November at 69.
All the information in this article has been provided by Realtors® Association of Edmonton!
Blog Author: Derek Hulewicz, REALTOR® at RE/MAX Select Edmonton phone: 780-220-4224