Purrfect Properties Blog

Edmonton Listings continue to Surge, Bargain Sales now Timely.

Hi Folks,

Welcome back from holidays! Did you create some resolutions for yourself?  Each year, throughout the holidays I take the time to write down my goals for the upcoming year.  They generally alwas include some sort of exercise, and mental conditioning as well. For the first time in my history; I am actually considering a new type of resolution; to love myself just as I am, no changes.  Wouldn’t that be the Cats’ Meow?  To love yourself, exactly the way you are.  Consider it, I know I am.  While some folks are considering what kind of goals or resolutions they wish to set for themselves, others are moving confidently in the direction of their dreams.  A lot of Edmontonians were looking to change homes in 2015 and the trend is set to continue in 2016.

If you, your friends or family are looking to buy or sell Real Estate, please keep me in mind.  Your referral is the best compliment I can receive; other than the Miss Universe crown. lol

And now the stats:

Last December (2014) we had 3,059 listings for sale.  December of 2015 ended with a total of 5,088 properties for sale in the Greater Edmonton area.  Far too many properties than what is being bought up and the result is a Buyers Market.  This is the strongest buyers market that I have seen in a few years, at 7.14 months of inventory. Last month we only had 5.47 months of inventory and it was still a Buyers Market.

Last December (2014) a total of 1,165 homes sold in the Edmonton area.  This December 713 sold.  About the same number of sales.

Last November (2014) a total of 1,416 new listings came on the market, this year 1,914 new listings arrived.  Compared to last year there are 35% more new listings, and I predict new listings are going to keep high in numbers all through 2016.

Average Days on Market – 62, down 11.3% from last year

Odds of Selling – 713 out of 5,088 listed, down 46.49% from last year

Average Selling Price:

Condo: $248,956, down 2.2% from last month and up 1.5% from last year.

Townhouse: $374,217, up 5.3% from last year and 10.7% more than last month.

Single Family Dwelling: $424,629, down 1.2% from last year and 1.2% from last month and the

Average selling price in the City of Edmonton is $366,221, up 2.3% from last year and down 2.2% from last month.

Home Sales by Price Range: The highest percentage of properties are and have the tendency in Edmonton to sell in the $300,000-$399,999 price range, and this year 34.15% of homes have sold in this price range. Second position goes to the $400,000-$499,999 price range at 20.53%.  Third place is the $200,000-$299,999 and 20.28%. 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 6.98%.

Prices have not gone down in Edmonton since 2011, when we saw a decrease of 1.40%. Prices are up by 1.49% this year.

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Cheers,  Jeanine



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