The average price for condominium apartments in Edmonton was down 7.4 per cent between June and July, according to the Realtors Association of Edmonton.

The price drop comes amidst an otherwise strong month, with residential sales up 24.9 per cent year-over-year, for a total of 1,875 sales.

Condo prices are up 2.6 per cent year-over-year, with the average selling price at $242,516. The average price of all residential homes in Edmonton was $350,726 in July. During that month, the 2,543 residential listings resulted in 1,736 sales. The total value of real estate sales through the Edmonton MLS system was $814 million.

Prices for single-family detached properties and duplex/row houses were both down month-to-month but up from last year.

“Prices and sales have peaked for the year and the month-over-month numbers are lower than June,” says Darrell Cook, president of the Realtors Association of Edmonton. “When compared to last year, our market is very robust.”