Purrfect Properties Blog

Is the Real Estate Market finally picking up speed in June?


The sun is out, the clouds are gone and summer is finally upon us, a much needed reprieve from winter! Check out our guide for the hottest, most upbeat summertime events that you can’t miss. Check out recent developments in our local real estate market and the latest market reports. As always I am at your call, to help. If you or your clients are looking to buy or sell real estate, please keep me in mind.  Your referral is the best compliment I can receive.

Last May (2016) we had 3,195 new listings come on the market and a total of 8,018 properties for sale.  This May 3,677 new listings appeared for a total of 8,385 homes on market. This is continuing last years trend with an abundance of properties for sale, and 4.53 months of inventory in a Buyers Market.

Last May (2016) a total of 1,906 homes sold in the Edmonton area.  This May 1,853 SOLD.  About the same number of sales.

Average Days on Market – 54, compared to last year we’re even stevens

Odds of Selling -22.10%,  1,853 out of 8,385 listed, down 6.80% from last year, up 13.81% from last month

Average Selling Price:

     Condo Apartment: $250,818

     Condo Townhouse: $344,406

     Single Family Dwelling: $440,906 and the

Average selling price in the City of Edmonton is $379,018.

Down 0.73% from last year and up 0.33% from last month.

*stats as of May 31, 2017

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 33.82% of homes have sold in this price range. Second position goes to the $300,000-$399,999 price range at 20.15%.  Third place is the $300,000-$399,999 and 19.01%.

54 Years average of price increase for the City of Edmonton is 6.79%.

Prices have gone down this year by 0.34%. 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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