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
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