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Edmonton Real Estate Market Reports for March 2017

Spring is finally peeking around the corner after a drawn-out winter and with it comes the promise of sunny afternoons, blooming flowers and a slowly defrosting Real Estate Market.

Now is the time to harness the spirit of spring and tick off items fromt he to-do- list around the house: spring cleaning, taking advantage of renovation sales and freshening up the homes’ vibe.

The weather might not be quite warm enough yet to put on the gardening gloves, but seedlings, yes! Check out some of our ideas on how to bring the benefits of a fresh garden right to your kitchen counter.

The highest compliment you can give me is a referral for your friends and family. Thank you for your referrals!

Don’t forget, REALTOR® services for home buyers is free, so why would you do it on your own?

And now for the reports:

Last March (2016) we had 3,037 new listings come on the market and a total of 7,406 properties for sale.  This March 3,080 new listings appeared for a total of 6,806 homes on market, at

4.62 months of inventory.

Last March (2016) a total of 1,448 of 7,406 homes sold in the Edmonton area.  This March 1,474 of 6,806 SOLD.  Your odds of selling have gotten better!

Average Days on Market – 57, last year we were at 53 days, compared to last year homes are selling 7.02% more slow.

Odds of Selling –21.66%,  compared to last year, your odds of selling increased by 10.97%, compared to last month 16.97% better

Average Selling Price:

     Condo Apartment: $242,632

Condo Townhouse: $348,806

Single Family Dwelling: $439,139 and the

Average selling price in the City of Edmonton is $371,608. Down 1.36% from last year and 3.17% more than 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 33.09% of homes have sold in this price range.

What’s new for our city is where second place is.  With the mortgage changes in October, averages for Edmonton families in loan amounts have dropped, while debts have remained the same, squeezing out both ends of the price ranges.  Last year, more folks were buying in the $400-$499,000 range, but this year it has changed.  Second position goes to the $200,000-$299,999 price range at 21.66%.  Third place is the $400,000-$499,999 and 17.48%.

Luxury Market Positioning: Only 14.32% of Edmonton homes have sold over the $500,000 price bracket.

54 Years average of price increase for the City of Edmonton is 6.76%.

Prices have decreased this year by 2.23%. A small reduction in the average market in Edmonton, in comparison to what is going on in the rest of our province.
*stats as of March 31, 2017.

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