July Edmonton Real Estate Sales MLS®

Posted by Maxwell Progressive on Monday, August 1st, 2016 at 9:38am.

July Edmonton Real Estate Sales 

The month of July is over and we're ready to analyze the MLS® sales reported for Edmonton real estate market. In this article we will look at the Average, Median and days on the market from the last 5 years. The interesting set of numbers came from the sales of homes over one million dollars. 17 sales of homes over a million dollars were recorded in July. 

 

So here is the breakdown for the month of July MLS® sales:

 

JULY 2016 MLS® Sales

Total MLS sales in Edmonton 1139 Single family Homes and Condominiums 

 

Average Sold Price : $ 387,814

Median Sold Price : $ 352,500

Average Days on the Market : 53

Highest Priced home to sell in July : $ 3,515, 0000

 

17 Properties over a Million dollars sold in Edmonton in the month of July. *** This might have something to do with the huge increase in Average Sale price from June. ( 1.5% )  For this reason it is why I always carefully look at Median prices and to be more specific the individual neighbourhoods where I am working with my clients who are buying and selling. 22% of total sales over million dollar in 2016 have been made in July. 

The Median price from June 2016 to July 2016 for MLS® sales reported in Edmonton have declined 2.1% ( June $ 360,000 ) ( July $ 352,000 )

Conclusion of median prices in Edmonton have declined so far this year. Total Median Sold price 2015 including single family homes and condos was $352,000

 

Condo Sales Breakdown 

356 total condo sales in the month of July 

Average Sold Price : $256,357 

Median Sold Price : $241,750 

Average Days on the market: 53 

Highest Sold condo in Edmonton for July: $940,000

 

Previous Month Comparable Sales ( June 2016 ) 

Total Condo Sales : 429 , Average Price: $ 264,653 , Median Sold Price: $242,500 , Days on the Market 56 , highest sold condo: $1,725,000

 

My conclusion of the Condo market in Edmonton proper is that Prices are actually on the move upwards from last year (2015) across the board. This is a general look at the overall condo market and I would suggest to look at specific buildings and sale prices to get a more accurate assessment. 

Single Family Homes Breakdown

783 Total Sales of Single Family homes in Edmonton for July 2016

Average Sold Price : $447,583 

Median Sold Price : $399,400

Average Days on the Market: 50 

 

Average Sold price from June 2016 was $433,441 ( again I will point out the 17 properties that sold over a million dollars this month pulling up that average ) 

Median from last month was $ 394,500 which may be a more accurate reflection of the market 

 

When we go back 1 year from now and look at the same set of numbers we get : Average $434,120 , Median $399,000 , 46 days on the market was the average

 

Conclusion for single family homes in Edmonton for July: number of sales declined year of year, Price is flat and Buyers have more selection and are taking longer to make their purchases.

 

5 year Historical Data from the City of Edmonton / MLS® sales  Total - City of Edmonton

July 2010 - 924 

July 2011 - 1273

July 2012 - 1163

July 2013 - 1365

July 2014 - 1439

July 2015 - 1375

July 2016 - 1139

 

The market continues to contract now into the second year. 17% decrease in sales year over year. 

 

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Interested in more information about Edmonton area homes for sale? Contact Edmonton Realtor ® Robert Fyfe via email, phone 780-700-4075 or try a custom Edmonton Area MLS ® Search

 

 

 

 

 

 

 

 

 

All information published by the authors of this website is believed to be accurate but is not warranted to be so. The authors take no responsibility for its use whatsoever. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA and identify real estate professionals who are members of CREA. Used under license. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

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