May was another strong month for the Edmonton area. Judging by the MLS stats, the Edmonton market is in great shape and fairly balanced between buyers and sellers. Inventory levels are starting to rise however they still have a ways to go before we will run into it having any major effect on prices. As you can see on the graph below, our average selling prices for single family homes has been up every month this year compared to last.

Here is a look at the numbers:

April 2014 (Edmonton Area)                                                                   Monthly/Yearly Change  

Single Family Average Selling Price                      $438,279                      +2.2%/+5.1%

Condominium Average Selling Price                     $251,688                      -0.1%/+6.7%

Duplex/Rowhouse Average Selling Price               $351322

Average Days on Market                                                41                                   

Residential Inventory at Month End                         5634                          +14.7%/-6.5%

Total MLS Reported Residential Sales                      2137                           

Stats obtained from www.ereb.com

Note: Numbers likely to change slightly as sales stats for homes sold in the last few days of the month are not all yet recorded.