Purrfect Properties Blog

Edmonton Sellers see Limited Results in August due to a Full House.

Hi Folks,

With summer fast becoming a distant memory, and as the leaves begin to change, autumn tends to be a season of transition. At 4.93 Months of inventory, we’re still in a Buyers market here in Edmonton. If you are thinking about making the transition from your current home to the next, check out some of the valuable information included here so you can make a wise decision for your future.

Inventory: August finished with another full inventory month here in Edmonton. 2,926 properties were newly listed for Sale in August 2015, with only 6% less new listings than the previous month.  Yet, there is 25.9% more homes listed for sale in Edmonton this year than last. That’s the kicker, 25% more properties have flooded the real estate market in Edmonton.

Total number of homes available to buy in Edmonton: 7,227                     

Total sales for September 2015: 1,465.

Days on Market: Compared to July of 2015, homes are selling 7.4% slower and 9.3% more slow than the previous year. The average being 54 Days on Market, here in Edmonton, up from 50 dom’s the previous month and 49 dom’s the previous year.

Odds of Selling: You basically have a 1 in 5 chance of selling your home in the next 30 days. In fact, you have a 20.27% chance of selling, especially if you are already listed for sale. lol. Your chances of selling have decreased by 36% over last year and 24% from last month.  Not the best news.

Average Selling Price: Condo: $254,672 Townhouse: $354,409, Single Family Dwelling: $439,828 and the average selling price across the City of Edmonton is $372,256.

Home sales by Price Range: The highest percentage of properties are selling in the $300,000-$399,999 price range at 33.83%. Second position goes to the $400,000-$499,999 price range at 21.24%.  Third place is the $200,000-$299,999 and 19.96%. These haven’t changed very much from month to month as this works in with Edmonton average earnings per family.

54 Years average of price increase for the City of Edmonton is 6.99%.

Prices have not gone down in Edmonton since 2011, when we saw a decrease of 1.41%. Prices are up by 1.96% this year.

If you, your friends or family are thinking of moving, please keep me in mind, your referral is the best compliment I can recieve.

780 916 9739  … Now that’s the Cats’ Meow

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