In the Edmonton area, our busiest months of the year are March, April, May and June. This June, we saw a little bit of a slowdown compared to May, but that is normal as May is almost always the most active month of the year. For the rest of 2014, sales numbers will likely continue to dwindle a little, but there are no indications that we will experience any major price reductions. The Edmonton Area market is very strong and, as you can see in the graph below, we have had significant price gains over the last year in all residential areas. The numbers on the chart are the year-to-date averages for the first 6 months of 2013 and 2014.
June 2014 (Edmonton Area) Monthly/Yearly Change
Single Family Average Selling Price $435,534 -0.7%/+5.8%
Condominium Average Selling Price $254,182 +0.6%/-1.6%
Duplex/Rowhouse Average Selling Price $343,198
Average Days on Market 41
Residential Inventory at Month End 5704 +1.2%/-6.2%
Total MLS Reported Residential Sales 2621 -2.1%/+2.5%
Stats obtained from www.ereb.com
Note: Numbers likely to change slightly as sales stats for homes sold in the last few days of the month are not all yet recorded.