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October 2019 | Edmonton Market Stats Update

HACK&Co

The HACK&Co team takes expertise seriously...

The HACK&Co team takes expertise seriously...

Sep 18 4 minutes read

Below you will find Edmonton's residential housing market statistics for October 2019, 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 2,740 new residential listings in the past month, which brings the total residential inventory up to 7,926 by the end of September.

It was a busy month for selling with 1,334 total residential sales, compared to last year where there were only 1,234. This increase means that in the month of October 2018 there were around 39 houses sold per day, compared to 43 per day in October 2019. Overall, there have been 14,621 sales so far this year.

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.

5.9

Months of Inventory 

(Residential)

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.

October 2019

60

Single Family Detached

63

Duplex/Rowhouse

76

Condominium

65

Total Residential

2019 Year-to-Date 

58

Single Family Detached

68

Duplex/Rowhouse

72

Condominium

64

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. The average sale price of total residential for September was $351,526, which is a 4.30% decrease from August 2019, and a 6.06% decrease from September 2018.

Average Sale Price

$420,939

Average Single Family Detached

$328,975

Average Duplex

$227,802

Average Condominium

$353,546

Average Total Residential 

Median Sale Price

$381,700

Median Single Family Detached

$318,000

Median Duplex

$210,000

Median Condominium

$330,000

Median Total Residential 

Sales to New Listing Ratio

The Sales to New Listing Ratio tells us the frequency of opportunity. With a 52% ratio in the Greater Edmonton Area, there is about 1 buyer for every 2 sellers listed on the market. 

g

58%

Single Family Detached

54%

Duplex/Rowhouse

51%

Condominium

55%

Total Residential

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!  ➡️

❄️ 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!

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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