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Edmonton Real Estate Market Update: Sales March On, Prices Dip


Blog by Sara Kalke | March 15th, 2016


Here it is, the latest numbers from the REALTORS® Association of Edmonton.  My top 3 points as always:
  1. Inventory is up and climbing.  It is normal to see more on the market this time of year, and remember a year ago was still fairly low for inventory.
  2. Houses are still selling.  1,069 last month.  This is down 10% from a year ago, so you know where I am going with price...
  3. Prices for houses are starting to show the switch in the market, which is down 2.79% for single family homes and 4.88% for condos.  We aren't surprised to see this. 

Remember, if about 1 in 6.5 houses are selling every month, you need a winning strategy to sell.  I'm here for you.


Sara




"Housing prices hold steady as inventory grows

Edmonton, March 2, 2016: Residential inventory saw another significant increase in February, surpassing 6,000 listings on the market, ending the month with 6,681 properties for sale on the MLS® System for the Edmonton Census Metropolitan Area (CMA). That’s a 16.17% increase over last month, and 33.41% more homes listed for sale than February 2015. Sales for February were up 36.54% month-over-month at 837 compared to 618 in January, but 10.1% lower than the 931 properties that sold during the same time last year."

1 Census Metropolitan Area (Edmonton and surrounding municipalities)
2 Single Family Dwelling
3 The total value of sales in a category divided by the number of properties sold 
4 The middle figure in a list of all sales prices
5 Residential includes SFD, condos and duplex/row houses. 
6 Includes residential, rural and commercial sales