The Realtors Association of Edmonton released its 2017 housing forecast yesterday. Below is a summary of 2016 MLS statistics and a few forecasted trends for 2017: See full report here.
MLS® System Activity for December 2016
|
December 2016 |
|
M/M % Change |
Y/Y % Change |
|
SFD average selling price – month |
$420,962 |
-4.43% |
-0.86% |
|
SFD median selling price – month |
$392,250 |
-0.44% |
1.88% |
|
Condominium average selling price |
$247,647 |
2.52% |
-0.53% |
|
Condominium median selling price |
$228,000 |
6.05% |
-5.00% |
|
All-residential average selling price |
$357,916 |
-4.09% |
-2.27% |
|
All-residential median selling price |
$340,944 |
-1.82% |
-1.18% |
|
# residential listings this month |
1,067 |
-41.53% |
-16.51% |
|
# residential sales this month |
716 |
-26.79% |
0.42% |
|
# residential inventory at month end |
5,208 |
-19.80% |
2.40% |
|
# Total6 MLS® System sales this month |
931 |
-26.64% |
0.22% |
Edmonton Realtors Association 2017 Forecast
Realtor’s Association of Edmonton Chair, James Mabey forecasts that sales of residential homes will remain stable in 2017. Single family home unit sales and average prices only slightly dropped in 2016. Unit sales for single family homes are predicted to decline approximately 1.7% in 2017 and prices are also predicted to decline 2.2%. Inventory for single family homes will stay higher than the last few years.
Condominium sales are only expected to drop by 3.8%, but unit sales are anticipated to grow by 0.2%. Inventory is expected to grow by 1.1%
If you have any other questions about specific product, or any other real estate questions, please feel free to email at Alison@InfoEdmonton.ca, or call me directly at 780-619-9812.
Alison
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