REAL ESTATE SALES AND EDMONTON PRICES UP FOR MAY
All residential average prices are at $401,390, a 13.4% increase from May 2020 and up 3.0% from April 2021. houses averaged $465,551, a 12.9% year-over-year increase and a 1.6% increase from April 2021. Condominiums sold for an average of $241,885, an 18.4% increase year-over-year, and prices are up 5.7% compared to April 2021. Duplex prices increased 10.1% from May 2020, selling at $358,195, which was a 3.1% increase from April 2021.
The MLS® Home Price Index (HPI) composite benchmark price* in the Greater Edmonton Area trended up to $347,800, a 9.3% increase from May 2020, and up 1.1% from April 2021.
“The Edmonton market in May saw a significant increase in year-over-year residential unit sales,” says REALTORS® Association of Edmonton Chair Tom Shearer. “There have also been more sales of houses, condominiums, and duplexes compared to May of last year, while month-over-month activity has started to cool off compared to April. While we need to keep in mind the drastic difference between 2020 and 2021, we are witnessing a strong market heading into the summer.”
houses averaged 28 days on the market, a 32-day decrease from May of last year. condominiums averaged 48 days on the market, a 29-day decrease year-over-year, while duplexes averaged 32 days on the market, a 31-day decrease compared to May 2020. Overall, all residential listings averaged 33 days on the market, decreasing by 33 days year-over-year and four days compared to April 2021.
Information provided by the REALTORS® Association of Edmonton