As we close out 2018, we have the latest statistics from our market and a few predictions on what to expect in 2019.
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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.
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The number of overall sales increased during November, and the housing market remains strong.
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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.
