Edmonton's real estate prices remain relatively flat in May of 2020, however the number of residential sales in Edmonton and surrounding areas continue to be lower compared to last year due to the Covid 19 pandemic!
The average price for a single family detached home in May of of 2020 was $412,329, up by 0.52% from last month and down by 4.49% from May of 2019.
Condo prices were actually down by 8.77% at $204,365 from $224,022 last month.
Total of 1,157 residential properties have sold in the 5th month of 2020, 54.89% more than in April and 41.51% less than in the same period last year, which is again due to the Covid 19 pandemic.
The inventory increased to 7,749 residential properties available compared to 7,237 last month and 9,451 in May of 2019. It took on average 66 days for all these residential properties to sell, 2 days longer than last month.
All the information in this article has been provided by Realtors® Association of Edmonton!
Blog Author: Derek Hulewicz, REALTOR® at RE/MAX Real Estate Edmonton phone: 780-220-4224