Edmonton area home sales, prices continue to trend down in October

Real estate signs in Edmonton, Alta. on Sunday, December 9, 2018. Home prices have descreased by up to $50,000 compared to the peak in spring. Global News

Edmonton and area home prices are tens of thousands of dollars lower compared to the spring peak and less homes are being bought, according to the Realtors Association of Edmonton’s October market statistics.

Single family homes averaged $463,000, down nearly $50,000 from when they peaked at $510,000 earlier this year in April. The most inexpensive single-family homes sold in the Central area for an average of $257,000.

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The average price of a condo was around $224,000, down from the peak price of $245,000 in March. The priciest condos could be found in the Anthony Henday area, where the average selling price was $250,000.

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The average duplex sold for $372,000, nearly $40,000 less than when prices peaked in the spring at $409,000.

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While single-family home sales in October stayed fairly steady when compared to September, sales were down nearly 23 per cent compared to the same time last year.

Condos and duplexes, however, both saw a decrease of around 13 per cent from September. Condos are down 14 per cent compared to last October and duplexes saw the largest year-over-year decrease at 27 per cent.

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