The average price of homes in the Edmonton region was virtually unchanged in May compared to May 2017, but sales dropped slightly, new figures show.
The area saw 1,776 properties sold through the Multiple Listing Service last month, up 14.2 per cent from April but down 3.6 per cent from one year earlier, the Realtors Association of Edmonton said Monday.
The average sales price for all residential properties was $377,139, down 0.5 per cent from May 2017.
This includes single-family houses ($442,348, up 0.4 per cent in the past year), condominiums ($241,571, down 3.9 per cent in the past year) and duplexes/rowhouses ($346,800, up 0.8 per cent in the past year).
Condos spent an average of 66 days on the market, an increase of four days from May 2017, while single-family houses were on the market for an average 46 days (down two days) and duplexes/rowhouses took 59 days to sell (down three days).
“Prices and unit sales in the Edmonton (regional) market remain stable,” Darcy Torhjelm, chairman of the Realtors Association of Edmonton, said in a news release.
“This is good news for sellers who have been concerned about selling their properties before the summer months in a ‘buyer’s market.’”