Purrfect Properties Blog

The Spotlight is on Fall as Edmontons listings’ are Reduced.

Edmonton Real Estate Market Reports for September 2016

School is in and as the kids focus on their studies, the business world wakes up and the Real Estate market resumes back after the last of summer holidays.  That is the serious folks anyways.  Now is the time where we start to see the listings drop off and the less motivated sellers exit the market.  If you’ve been thinking of selling, now is a great time to get into the market.  Interest rates are the lowest they’ve been and that makes for some interesting shifts in housing. We’ll help you get there. Join our monthly mailing list, send us a quick hello or give us a call and ask your questions.  We’d love to help you.

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Judge for yourself, don’t listen to the news!

Last August (2015) we had 2,930 new listings come on the market and a total of 7,227 properties for sale.  This August  2,747 new listings appeared for a total of 7,908 on market. This is continuing last years trend with an abundance of properties for sale, and folks looking to move around at 5.52 months of inventory.

Last August (2015) a total of 1,555 homes sold in the Edmonton area.  This August 1,433 sold.  About the same number of sales.

Average Days on Market – 55, the same as last year, up 1.8% from last month which had 56 DOM

Odds of Selling – 1,433 out of 7,908 listed, down 15.57% from last year, down 11.83% from last month

Average Selling Price:

     Condo Apartment: $251,526, down 3.41% from last month anddown 1.12% from last year.

     Condo Townhouse: $344,337, down 2.02% from last year and 0.36% less than last month.

     Single Family Dwelling: $434,362, down 0.80% from last year and down 3.21% from last month and the

Average selling price in the City of Edmonton is $369,956, down 0.05% from last year and down 3.62% 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 34.03% of homes have sold in this price range. Second position goes to the $400,000-$499,999 price range at 20.82%.  Third place is the $200,000-$299,999 and 20.62%. 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 6.86%.

Prices have gone up for this year by 0.62%. A small reduction in the high end luxury market in Edmonton, in comparison to what is going on in the rest of our province.

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

Cheers and chat soon,  Jeanine



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