Purrfect Properties Blog

How Awesome is the Edmonton Real Estate Market in Spring?

It’s on fleek…  

Hi Folks,

Here’s spring and here’s the spring market.  Lots of listings and a good number of sales which can be expected in this traditional moving season. I’m personally looking forward to planting flowers around the may long weekend, Cannas’ please, I love those.  Along with the flowering buds, blue skies, babies and marriages comes spring cleaning, space planning and relocation.  The weather is nice folks, and so is our market.

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.

Now, the Edmonton Real Estate Statistics for April 2016.

March of 2016 ended with a total of 7,294 properties for sale in the Greater Edmonton area.  3,082 New listings came fresh to market this month.  Last March (2015) we had 3,152 new listings come up for sale and a total of 5,944 properties for sale.  That buyers market we’ve been talking about had reduced a bit, and it’s sitting at about 5.35 months of inventory, down afew months inventory from just last month.  That means, PROPERTIES ARE SELLING AND FOLKS ARE STILL BUYING.

Last March (2015) a total of 1,532 homes sold in the Edmonton area.  This March 1,364 sold.  About the same number of sales.

What are the Average Days on Market in Edmonton? –

53, up from 45 days in 2015 (15% slower)  and down from 57 days in February 2016 (7.6% faster)

What are your Odds of Selling your house in Edmonton?

1,364 out of 7,294 listed – or 18.7%

What is the Average Selling Price of homes in Edmonton?

     Condo Apartment: $251,093 up 1.8% from last month and up 0.6% from last year.

     Condo Townhouse: $337,986  down 4.3% from last month and 5.0% less than last year.

     Single Family Dwelling: $439,815  up 5.5% from last month and up 0.6% from last year and the

     Average selling price in the City of Edmonton is $379,524 up 5.31% from last month up 1.9% from last year.

What price range of homes can most Edmontonians afford? 

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 34.04% of homes have sold in this price range. Second position goes to the $200,000-$299,999 and 21.44% Third place is the $400,000-$499,999 price range at 12.5%.  This is the first month in about six that I have seen the $200,000 price bracket land in second position, rather than third.  The four hunderd range switched places with this group, a sign of things to come?

53 Years average of price increase for the City of Edmonton ijust dropped to 6.81% from 6.83% previously recorded.

Prices have gone down for this year by 2.11%, statistically speaking, much of the average price ‘decrease’ would be due to the fact that we haven’t seen the sales from the full spring and summer market enter into the stats.  Give it a few months and I predict we will see the same prices as last year, with a small exception in the high end luxury market in Edmonton

Want market information about listings in your area or a free market anaylsis for your home?  Sign up here.

To download your full copy of this report – click here.

Cheers and chat soon,  Jeanine



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