Edmonton real estate market official stats October 2010

Well the stats are out. The sales were 1077 for October of 2010. Comparing that to other Octobers in previous years we are a little lower than the previous 3 year average of 1312 sales.

October 2010 1077 solds
October 2009 1529 solds
October 2008 1195 solds
October 2007 1214 solds

The new listings for the month are starting to taper off finally. 2269 listings in the month of October is actually lower than the previous 3 year average of 2795 listings.

October 2010 2269 new listings
October 2009 2109 new listings
October 2008 2938 new listings
October 2007 3340 new listings

Inventory of properties for sale has dropped to 7698 from 8602 in September. That is a big drop and mainly the result of properties failing to sell and coming off the market, plus the lower number of new listings helped. If you look at the inventory level today (November 2nd, 2010) we are actually even lower at 7131 properties. Our stats are using the 31st of October as an inventory level, and there are over 500 homes that expire traditionally at the end of the month. So, the inventory is starting to correct itself.

I've also increased some price graphs.

Edmonton Real Estate Market October 2010 unofficial stats

October finished stronger than it started. We sold 1077 homes and listed 2269. The inventory came down to 7689, this is mainly due to the homes that failed to sell (in the 1700 range) as the new listings greatly outnumbered the sales this month.

Here is where average prices ended up:

Single Family $365,691
Duplex/Rowhouse $292,214
Condos $235,893
I will update the numbers once we receive the official stats from The REALTORS® Association of Edmonton.