Purrfect Properties Blog

School is around the corner but did YEGRE fail the grade?

Edmonton Real Estate Market Reports for August 2016

School is right around the corner and with that, comes the end of the push for Edmonton families to get into their new homes by the start of the school year.  The last little bit of holidays and vacations are coming to a close, but is the Edmonton Real Estate market fading?  No, not so much. lol. If you watch the news, local or national you will get some supporting stories and some contradictory stories, but in the end, they are all stories.  Thoughts coming out of someone elses’ imaginations, studies, education and opinions.  However, there’s one thing you can’t change and that’s the facts.  Is Edmonton doing as poorly as they say it is?

Judge for yourself!

If you, your friends or family are looking to buy or sell Real Estate, please refer them to me.  Your referral is the best compliment I can receive.

Last July (2015) we had 2,895 new listings come on the market and a total of 7,226 properties for sale.  This is continuing last years trend with an abundance of properties for sale, at 5.31 months of inventory.

Last July (2015) a total of 1,889 homes sold in the Edmonton area.  This February 1,515 sold.  About the same number of sales.

Average Days on Market – 56, down 8.9% from last year, down 5.4% from last month

Odds of Selling – 1,515 out of 8,048 listed, down 29.14% from last year, down 18.82% from last month

Average Selling Price:

     Condo Apartment: $257,482, down 1.91% from last month and up 0.5% from last year.

     Condo Townhouse: $348,050, down 1.39% from last year and 2.29% less than last month.

     Single Family Dwelling: $450,366, up 3.07% from last year and up 3.51% from last month and the

     Average selling price in the City of Edmonton is $384,504, up 3.33% from last year and up 188% 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 34.17% of homes have sold in this price range. Second position goes to the $400,000-$499,999 price range at 21.10%.  Third place is the $200,000-$299,999 and 20.36%. These haven’t changed very much from month to month as this works in with Edmonton average earnings per family.

53 Years average of price increase for the City of Edmonton is 6.87%.

Prices have gone up for this year by 0.77%. Give it a few months and I predict we will see the same prices as last year, with a small reduction 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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