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January 2020 | Edmonton Market Stats Update

HACK&Co

The HACK&Co team takes expertise seriously...

The HACK&Co team takes expertise seriously...

Feb 4 3 minutes read

Below you will find Edmonton's residential housing market statistics for January 2020, include months of inventory; average days on market; average and median sale price; and the Sales to New Listing Radio for single family dwellings, condos, and duplexes; as well as HACK&Co's Hot & Cold Neighbourhood lists. 

Want more information?

If you would like more detailed information on the Greater Edmonton Area market, or detailed information for a specific neighbourhood, give us a call or send a quick text and we'll be happy to send that over!

Call/Text (780) 909-6770

There were 2,2229 new residential listings in the past month, which brings the total residential inventory up to 6,252.

Properties were on the same pace as last year for sales with 799 total residential sales, compared to 795 total residential sales in January 2019. This means that in the month of January 2020 there were around 25.7 houses sold per day, compared to 25.6 per day in January 2019. 

HACK&Co's Hot & Cold Lists

Hot List 🔥

HACK&Co's Hot List includes houses and neighbourhoods that are in hot demand but difficult to find in the market currently. If you or someone you know lives on a property that matches these lists, it may be a good time to think about selling while they're still hot! 

Watch to find out which properties is hot!  ➡️

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Search Hot Properties

❄️ Cold List

On the flip side, HACK&Co's cold list is a list of property types and neighbourhoods that are sitting on the market. These properties are great for buyers looking for a good deal.

⬅️  Watch to find out which property types are  cold!

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Search Cold Properties

Months of Inventory

Months of inventory refers to how long it would take to sell the whole inventory of residential homes in Edmonton if they continued to sell at the current pace, provided no new listings came to the market.

With 0-3 months of inventory, Edmonton would be considered a sellers market as properties would sell quickly. Between 3-4 months would be considered a balanced market, and 4+ months of inventory would be a buyer's market where buyers have more negotiating power.

Want to know the supply & demand in your neighbourhood?

7.8

Months of Inventory 

(Residential)

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Days on Market

Days on market can affect a few things. The longer your home stays on the market, the less perceived value it has to new buyers, which could lower the sale price. It can also be used to gauge the housing market.

January 2020

Is your neighbourhood higher or lower than average days on market?

73

Single Family Detached

85

Duplex/Rowhouse

83

Condominium

79

Total Residential

December 2019

64

Single Family Detached

75

Duplex/Rowhouse

77

Condominium

69

Total Residential

Average/Median Sale Price

It is good practice to measure both average and median sale prices, as any outlying high-priced or low-priced property can skew the data of the the average sale price.  

Average Sale Price

How does this impact the value of your home?

$413,954

Average Single Family Detached

$338,815

Average Duplex

$204,335

Average Condominium

$351,002

Average Total Residential 

Median Sale Price

$384,000

Median Single Family Detached

$315,000

Median Duplex

$188,750

Median Condominium

$335,000

Median Total Residential 

Sales to New Listing Ratio

The Sales to New Listing Ratio tells us the frequency of opportunity.

January 2020 

How many new listings are in YOUR neighbourhood?

40%

Single Family Detached

44%

Duplex/Rowhouse

26%

Condominium

36%

Total Residential

December 2019

77%

Single Family Detached

58%

Duplex/Rowhouse

50%

Condominium

65%

Total Residential

Need help deciding when to take the plunge?

Our experts would be happy to help you and your family determine the right time to buy or sell in this market 🏡

Call or Text (780) 909-6770
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