Edmonton prices gain despite higher inventory

Home prices for most property types in Edmonton continued higher in November even as inventory increased.

The average monthly selling price increased from a year earlier by 2.52 per cent to $373,174 for all property types with duplexes/rowhouses gaining 6.39 per cent to $353,818.

Single-family homes gained 1.76 per cent to $440,496 while condos saw a slight drop in average selling price to $241,569.

The gains in average selling prices reflect increased sales in high-end homes and overall sales for the market were down 11.41 per cent compared to November 2015.

While inventory was higher year-over-year, it declined by 10 per cent from October and Realtors Association of Edmonton chair Steve Sedgwick said “We expect to see the normal seasonal decline during the slower winter months as we head into 2017.”

MBN

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