Purrfect Properties Blog

Did Edmontons’ Sellers see Better or Worse Results in June?

Hi Folks, it is great to see you here again!  I’m happy to announce we’ve just adjusted to a temperate real estate market, balanced between buyers and sellers. Congrats Edmonton!

Inventory: June saw an interesting turn in the Real Estate Market here in Edmonton and we are smack dab in the middle of a balanced real estate market.  Just enough choices, for just enough people!  The number of listings has decreased and the number of purchasing buyers has increased, closing the time it will take to get through all the inventory out there. Dropping from 3.68 months of inventory, we’ve hit 3.57 months of availability.  Total number of homes available to buy in Edmonton: 7,177, total sales: 2,008.

Days on Market: We’re seeing more inventory come on the market than we did last year at this time, and at the same time, less than last month. Last year had 2,965 new listings added to the inventory and this June saw a bit of an increase to 3,192.  Last month saw 3,316 new listings added to inventory.  The increase in the number of listings from last year has resulted in just a few more days on market, increasing from 42 dom last year to 49 dom this year.

Odds of Selling: Here’s the big hitter, your odds of selling as compared to June of last year have decreased by 24%. This is mostly due to the fact that last hear, there was 2000 less properties available to buy in Edmonton.  That being said, the odds of selling have increased just a bit from last month and we’re sitting at 27.98%.  That’s almost a 1 in 3 chance of selling in the first 30 days. That’s pretty good!

Average Selling Price: Condo: $255,662 Townhouse: $351,171 Single Family Dwelling: $444,862 and the aerage selling price across the City of Edmonton is $378,050.

Home sales by Price Range: The highest percentage of properties are selling in the $300,000-$399,999 price range at 33.64%. Second position goes to the $400,000-$499,999 price range at 21.66%.  Third place?  Can you guess? $200,000-$299,999 and 19.72%.  The neat part?  Only 14.97% of properties sold, cost the buyers  $500,000 or more.

Get your copy of the whole report here and remember folks…

I’m ready to move when you are.

Cheers, Jeanine.