October 2020 Edmonton and Area Real Estate Activity Report
October was another strong month for real estate sales in the Edmonton area when compared to the same month in 2019. Buyers were most active in the Single-Family category with sales up +38.02% followed by Duplexes at +24.13% and Condominiums at +2.37%. In fact, since last June, strong monthly sales have brought the year to date total to within 0.4% of last year.
The average sale prices year over year were also up in the Single-Family by +5.05% ($422,145), Condominiums +1.67% ($231,608) and Duplexes +2.34% ($336,314). The strong sales helped reduce the total inventory of residential homes by -12.10% year-over-year and -3.88% month-over-month.
As typical for the fall season, the sales in October declined from September as the market moves into the winter season. However, it will be interesting to see if the year-over-year sales momentum continues through November.
In the meantime, stay safe and take care of each other!