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Edmonton Market Report Spring 2017, Edmonton Realtor, Edmonton Condos, Edmonton Real Estate

The new season is bringing signs of life in the outdoors as well as in the Edmonton real estate market for Edmonton realtors.  The Edmonton Real Estate Board released its quarterly report last week and things are looking promising.

“We generally see activity in the housing market start to increase at this time of year,” says James Mabey, REALTORS® Association of Edmonton Chair. “Buyers can look forward to more inventory to choose from and sellers can count on more buyers in the marketplace.”

“It is promising to see positive movement in the condo market. We have seen a large increase in both new and resale inventory, so it is good to see sales starting to follow suit,” says Mabey.

Edmonton Listings, Sales and Prices

  • There were 1,474 MLS listed properties sold in March which is an increase of 31.8 % from last month, February 2017, as well as an increase of 1.8% from March 2016. 
  • New listings in March reached 3,080 which was an increase of 26.7% compared to last month, February 2017, and an increase of 1.4% in March 2016.
  • Average prices are increasing in all categories compared to last month, February 2017.
  • The all residential average unit sale price was $371,680 which is an increase of 3.1% compared to last month, February 2017.

Edmonton Single Family Homes and Duplexes/Rowhouses

  • Single family homes averaged at $439,139 which is an increase of 3% compared to last month, February 2017.
  • Single family home average selling price increased 0.49% compared to March 2016.
  • The DOM for single family homes decreased from 58 days in February to 50 days in March.
  • Duplexes and rowhouses average price was $348,806 which is an increase of 0.41% compared to last month, February 2017.
  • The duplex/rowhouse average selling price increased 3.2% compared to March 2016.
  • The DOM for duplexes/rowhouses decreased from 80 days in February to 67 days in March.

Edmonton Condos

  • 389 condos were sold in March compared to last month, February 2017 when 357 units were sold.
  • In March 2017, Edmonton condos averaged at $242,632, which is an increase of 3.86% compared to last month, February 2017.
  • Edmonton condos are selling faster – the DOM decreased from 74 days in February to 67 days in March.


Avg. Selling Price

March 2017

M/M % Change

Y/Y% Change

SFDs

$439,139

3.04%

0.49%

Duplexes/rowhouses

$348,806

0.41%

3.20%

Condo

$242,632

3.86%

-3.11%


Days On Market

March 2017

February 2017

March 2016

SFDs

50 days

58 days

49 days

Duplexes/rowhouses

67 days

80 days

62 days

Condo

67 days

74 days

58 days

Average

57 days

65 days

53 days

Thinking of selling this spring? 

Be sure to contact an agent who knows your market so that you are priced right. Find someone who can help prepare your home for sale and who will professionally market your home until it is sold.

Call or email me if you need any help!

Alison Murray
780-619-9812

Alison@InfoEdmonton.ca

www.InfoEdmonton.ca

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As an Edmonton realtor, I’m seeing positive signs for our real estate market in 2017. According to the Edmonton Real Estate Board, unit sales of all residential listings were up 19% compared to January 2016.

Prices did experience a slight decrease over all categories, but remained fairly stable. Compared to January 2016, condominium prices increased 8.7% and duplex/row houses increased 8%. Single family home prices remained rather stable with an average of $416,859.

“2017 has started strong, with an increase in year over year unit sales and prices remaining stable,” said James Mabey, REALTORS® Association of Edmonton Chair. “While it is still early in the year, the rise in sales suggests that consumer confidence in the housing market is on the rise.”

Total inventory at the end of January 2017 is 5,594. This is a decrease of 2.7% compared to January 2016, but increased 7.4% relative to last month in December 2016. While the overall listings for January more than doubled compared to December 2016, from 1,067 to 2,185, they are lower than last year, this time with a decreased year-over-year by 7.6% from January 2016. 

January 2017 Statistics


Single Family Homes

Condos                 

Average Price

$416,859

$246,727

Median Price

$390,000

$228,000

DOM    

68

82


If you are planning on selling, this would be a good time to do so. Currently there is a demand with lower inventory than there will be in the spring.  

Thinking of selling?  Be sure to contact an agent who knows your market so that you are priced right. Find someone who can help prepare your home for sale and who will market your home until it is sold.

Source: Realtors Assocation of Edmonton


Call me if you need any help!

Alison Murray
780-619-9812

Read
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Copyright 2024 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.