Friday, February 25, 2020
2019 took a heavy toll on many Edmontonians and now many of us are looking for information on houses for sale so we can get a better picture of what type of market we are instore for in 2020. Let’s take a look at what’s happened during the first month of the new year.
The total residential home sales in Edmonton for January 2020 increased 0.50% compared to last January 2019. It also decreased 5.44% from the month before, December 2019. The total number of new residential listings went down decreasing 11.58% from last January 2019. Overall, the inventory in Edmonton fell by 11.76% from January of last year.
In January 2020, single family houses for sale increased by 2.52% while condo sales decreased 5.94% when compared last year.
The residential average price was $351,002 showing a small 3.85% increase from January of last year but are down 0.75% from December 2019. Single family homes sold for an average of $413,954. This came in the form of a 2.52% year to year increase from January 2019 and a 0.64% increase from December of 2019.
Condos sold for an average of $204,355 which went down 5.94% from last year. This however, represented a more significant 9.95% drop in condo prices when compared to the previous month, December 2019. The price of duplexes increased by 5.21% from January 2019, selling at $338,815, which was a 4.23% increase from the previous month.
The market prices overall in January remained fairly stable, however, did show a decrease over the year for total residential listings and sales. There have been slightly more sales this January than in January 2019. Single family home pricing did, however, increase 2.52% while duplexes increased by 5.21% and condominiums decreased 5.94% overall for the year.
Single family houses for sale saw an average of 73 days on the market which translates to a 5 day decrease when compared to last year. Condo sales showed a 10 day decrease with an average of 83 days on the market. Duplexes averaged 85 days on market which was a 5 day decrease from January last year. Overall, all residential listings were on the market for an average of 79 days which works out to a 5.95% decrease from last year and increased by 10 days compared to the previous month, December 2019.