News Release

Edmonton Real Estate Board Co-operative Listing Bureau Limited

14220 - 112 Avenue

Edmonton, Alberta
Canada T5M 2T8
Telephone: 780-451-6666
www.ereb.com

For release: February 3, 2015

Contact:

Geneva Tetreault, REALTOR, 2015 President, 780-483-2122

Ron Hutchinson, C.A.E., Executive V.P., 780-453-9340
Susan Rossmann, Manager Communications, 780-453-9323

Listings Up and Sales Down Means Bigger Inventory

Edmonton, February 3, 2015: Residential listings are up almost 30 percent compared to January of
last year. 2,316 new listings came on the MLS System for the Edmonton Census Metropolitan Area
(CMA) in January compared to only 932 new listings in December. Sales for January were 666 (not
adjusted) - down 13.5 percent month over month and down 25.9 percent from last year. These two
factors resulted in a 35 percent inventory growth from 3,059 to 4,132 last month. Inventory is up
almost 17 percent from the same time last year.
We ended 2014 with low inventory. While this is not unusual for the winter, it can make it difficult for
buyers to find the right home. The influx of properties we have seen on the market in January will be
a relief for buyers - allowing them more choice in their price range and possibly more time to make
their selection. REALTORS Association of Edmonton President Geneva Tetreault explains, Buyers
in the popular $400,000 price range often struggled in 2014 to find their ideal property or had to move
quickly before it sold. This increase in inventory will be a great benefit to them.
Prices still remain strong in the Edmonton CMA market. The all residential price went up almost 1
percent from last month to $362,394 (up 3.75 percent from January 2014). Single family houses
averaged $427,178 down half a percent from December, but up over 3 percent from the previous
year. Condo prices stayed stable at $247,116 up 5.5 percent from January 2014. We are continuing
to see last years trend of high priced properties elevating the average prices. Last month, nine of the
666 properties sold for over $900,000.
The average days-on-market last month was 58, up from 55 in December and down from 60 in
January 2014.
We are likely seeing the effects of oil prices and a feeling of economic cautiousness amongst some
buyers. Clients are looking to REALTORS for advice and guidance to navigate their own individual
situations. We expect more of an uptake in the market as spring approaches and more people start to
look for homes. Tetreault revealed. Low interest rates will continue to drive the housing market.

-30-

REALTOR News Release - Page 2

Review these statistics and more at www.ereb.com.

Highlights of MLS System activity
MLS System Activity
(for all-residential sales in Edmonton CMA1)

SFD2 average3 selling price month

SFD median4 selling price month
Condominium average selling price
Condominium median selling price
All-residential5 average selling price
All-residential median selling price
# residential listings this month
# residential sales this month (reported)
# residential inventory at month end
# Total6 MLS System sales this month
$ Value Total residential sales this month
$ Value of total MLS System sales month
$ Value of total MLS System sales - YTD

January
2015
$427,178
$394,000
$247,116
$235,000
$362,394
$341,000
2,316
666
4,132
897
$278 million
$329 million
$329 million

M/M %
Change

Y/Y %
Change

-0.53%

3.17%

-1.48%

2.34%

0.01%

5.54%

6.82%

8.05%

0.81%

3.75%

-0.73%

3.33%

148.5%

29.53%

-13.51%

-25.92%

35.08%

16.82%

-10.39%

-24.69%

-11.59%

-23.26%

-10.25%

-22.78%

-96.49%

-22.78%

Census Metropolitan Area (Edmonton and municipalities in the four surrounding counties)
Single Family Dwelling
3
Average: The total value of sales in a category divided by the number of properties sold
4
Median: The middle figure in an ordered list of all sales prices
5
Residential includes SFD, condos and duplex/row houses
6
Includes residential, rural and commercial sales
2

Average prices indicate market trends only. They do not reflect actual changes for a particular property, which may vary from house to
house and area to area. Prior period sales figures have been adjusted to include late reported sales and cancellations and
therefore reflect a more accurate view of the period than previously reported at month end. The RAE trading area includes
communities beyond the CMA (Census Metropolitan Area) and therefore average and median prices may include sold properties outside
the CMA. For information on a specific area, contact your local REALTOR .

REALTOR News Release - Page 3

The REALTORS Association of Edmonton (Edmonton Real Estate Board), founded in 1927, is a professional association of real estate
Brokers and Associates in the greater Edmonton area. The Association administers the Multiple Listing Service , provides professional
education to its members and enforces a strict Code of Ethics and Standards of Business Practice. The Association also advertises
property listings and publishes consumer information on the Internet at www.REALTOR.ca and www.ereb.com, as well as in the Real
Estate Weekly and on their web site at www.rewedmonton.ca. REALTORS support charities involving shelter and the homeless through
the REALTORS Community Foundation.
Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are
members of CREA (REALTOR) and/or the quality of services they provide (MLS).