September 2020 Edmonton and Area Real Estate Activity Report
The sales in all the residential categories once again exceeded the same month of 2019. Leading the charge was the Single-Family category up by an amazing +42.79% year over year, followed by Condominiums at +7.26% and finally the Duplexes at +1.7%.
While we are still down on the total year to date sales, the activity is positive news for sellers. In fact, when looking at the overall inventory, we see it decreased -15.15% from a year ago.
The average sales prices held relatively stable when compared to August but were up in the Single-Family by +4.73%, Condominiums +6.74% and Duplexes off by a slight -0.58% year over year. It’s important to note that we’ve seen stronger sales in the plus $500,000 range which boosted the overall average sales statistic.
Now that we’re into October I expect to see the market activity decline as per the normal seasonal trend. Economic predictions are all over the map, so I won’t pretend to have a good crystal ball, but interest rates continue to stay low and we’re still seeing strong interest from buyers for quality homes.
In the meantime, Happy Thanksgiving, stay safe and take care of each other!