May was another strong month for the Edmonton area. Judging by the MLS stats, the Edmonton market is in great shape and fairly balanced between buyers and sellers. Inventory levels are starting to rise however they still have a ways to go before we will run into it having any major effect on prices. As you can see on the graph below, our average selling prices for single family homes has been up every month this year compared to last.
Here is a look at the numbers:
April 2014 (Edmonton Area) Monthly/Yearly Change
Single Family Average Selling Price $438,279 +2.2%/+5.1%
Condominium Average Selling Price $251,688 -0.1%/+6.7%
Duplex/Rowhouse Average Selling Price $351322
Average Days on Market 41
Residential Inventory at Month End 5634 +14.7%/-6.5%
Total MLS Reported Residential Sales 2137
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.