Spring is in full gear and so is the Edmonton real estate market. Edmonton Realtors are expecting a promising season with an increase in inventory levels, unit volumes and prices.
“Average monthly prices across all categories have increased,” says James Mabey, REALTORS® Association of Edmonton Chair. “Despite slightly slower April sales, the spring buying season is off to a solid start.”
“Inventory levels and unit volumes continues to increase as the weather warms, which is typical for the market at this time of year,” says Mabey.
Edmonton Listings, Sales and Prices
- There were 3,164 MLS listed properties sold in April, which is an increase of 2.73% from last month, March 2017, and is a decrease of 2.65% from April 2016.
- New listings in April increased 2.73% compared to last month, March 2017, and decreased 2.65% compared to last year, April 2016.
- Average prices are increasing in all categories compared to last month, March 2017.
- The all residential average unit sale price was $377,774, which is an increase of 1.64% compared to last month, March 2017.
- Total Residential Listings YTD 8,091.
Edmonton Single Family Homes and Duplexes / Rowhouses
- Single family homes averaged at $439,438, which is an increase of 0.07% compared to last month, March 2017.
- Single family home average selling price increased 0.03% compared to April 2016.
- The DOM for single family homes decreased from 50 days in March to 48 days in April.
- Duplexes and rowhouses average price was $357,815, which is an increase of 2.58% compared to last month, March 2017.
- The duplex/rowhouse average selling price increased 4.97% compared to April 2016.
- The DOM for duplexes/rowhouses increased from 62 days in March to 64 days in April.
Edmonton Condos
- 398 condos were sold in April compared to last month, March 2017, when 389 units were sold.
- In April 2017, Edmonton condos averaged at $257,740, which is an increase of 6.23% compared to last month, March 2017.
- The condo average selling price increased 2.32% compared to April 2016.
- Edmonton condos are selling faster – the DOM decreased from 67 days in March to 60 days in April.
|
Average Selling Price |
April 2017 |
M/M % Change |
Y/Y% Change |
|
SFDs |
$439,438 |
0.07% |
0.03% |
|
Duplexes/rowhouses |
$357,815 |
4.97% |
2.58% |
|
Condo |
$257,740 |
6.23% |
2.32% |
|
Days On Market |
April 2017 |
March 2017 |
April 2016 |
|
SFDs |
48 days |
50 days |
50 days |
|
Duplexes/rowhouses |
64 days |
62 days |
61 days |
|
Condo |
60 days |
67 days |
59 days |
|
Average |
57 days |
60 days |
57 days |
Thinking of selling?
Spring is a prime time to put your house on the market. If you are ready to sell, 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
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