Highrise Edmonton Condos April Statistics

The Edmonton Real Estate Board publishes monthly statistics for Edmonton CMA and The City of Edmonton every month.  The statistics are based on sales registered through the Multiple Listing Service System®.  The headline this month was “Year over year unit sales volumes on the rise”.  This was true as an average across all sectors however the sector we are most concerned with (condo) saw a decrease of 3.06 % in year-over-year sales volumes. Year-over-year sales volume is the metric that should be used as the month-over-month is hard to garner accurate insight into the market unless it is viewed in a broader context and compared against averages in other years.  Month-over-month statistics, especially in the spring market, lead to biased headlines about double digit increases, when this is typically due to seasonality factors, as people tend to buy and sell more in the spring and summer period.  For this reason we look more closely at year-over-year figures in the condo sector. 

Additionally, Highrise Edmonton does track solely the high rise condo sector.  These stats are based on 20 high rise condos and are monitored monthly to provide year-over-year data.  This is highly tumultuous data however and used more for fun, with such a small market sample, even though we use media benchmarks the prices can be highly skewed month-to-month from a sale on the extreme boundaries of high or low. 

The Edmonton Real Estate Board statistics are important because they provide an overview of Edmonton’s condo market performance and help inform decisions.

Now let’s take a look at the details: 

Sales volumes in Edmonton’s condominium sector decreased by 3.06 % year-over-year.

Year-over-year condo prices in the City of Edmonton were down to $246,662 which is a decrease of -4.72%.

Year-over-year average days-on-market increased by 6 days from 60 – 66 days for the average condo to sell.

As always, this is a general snapshot of condo activity in the City of Edmonton.