Edmonton housing market in 2020 a ‘pleasant surprise’ for buyers and sellers, says monthly report

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Edmonton’s housing market showed a big jump in August compared to last year but appeared to struggle month-to-month when compared to July.

Overall residential sales increased by 20.11 per cent from August 2019 while single-family homes jumped up 22.98 per cent, according to the latest REALTORS Association of Edmonton report. Condo sales did see a slight decline of 0.97 per cent.

July to August told a different story with decreases across the board: residential sales (13.16 per cent), single-family homes (12.39 per cent) and condos (17.41 per cent).

Jennifer Lucas, chairwoman of the REALTORS® Association of Edmonton, said she’s still cautiously optimistic the market is rebounding.

“This is certainly not the year we thought we were going to have,” she said. “I think the numbers are showing a good news story here. Increased unit sales, low inventory and shorter stays on the market. (I think that’s) what consumers want to know about when they’re either buying or selling or considering putting their house on the market.”



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