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Edmonton residential land sales slump

July 16, 2018

If housing is a harbinger of a city’s economy, Edmonton could be in trouble.
Residential land sales in the Alberta capital dropped 57 per cent last year from 2016 and “are tracking close” to 2017 levels so far in 2018,
according to the Edmonton Flash Report from Altus Group.
The land sales reflect the current malaise in Edmonton’s residential sector.
The average price of homes in the Edmonton region was virtually unchanged in May compared to May 2017, but sales dropped slightly, new figures show.
The Edmonton region saw 1,776 properties sold through the Multiple Listing Service in May, down 3.6 per cent from one year earlier, reports the Realtors Association of Edmonton.
The average sales price for all residential properties was $377,139, down 0.5 per cent from May 2017.

 

 

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