As we close out 2018, we have the latest statistics from our market and a few predictions on what to expect in 2019.
We’re back with your latest market update as we move toward the end of 2018 and look ahead to 2019.
This past November, we saw 54% of all single-family homes sell, which is a 5% increase compared to last October and an 11% decrease compared to November 2017. The average sale price for single-family homes was $421,715.
Duplex and row housing saw 49% of their properties sell in November, which was a 10% increase compared to the previous month and a 30% decrease compared to November 2017. The average sale price for these properties was $346,909.
In the condo market, we saw 46% of all units sell, which was a 3% increase compared to last month and a 5% decrease compared to November 2017. The average sale price for these units was $218,443.
As we projected in our last market update, the number of overall sales increased during November, and the housing market remains strong. For 2019, we expect to see a similar market to what we saw this year, with a modest improvement. Specifically, Edmonton area home sales are expected to increase 8.2%. Although that might seem like a slight increase, it still projects a very positive year for Edmonton’s housing market.
As always, if you have any more questions about our market or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to us. We’d be happy to help you.