Wow what an exciting start to the year in Edmonton's housing market. Homes sales volume is up. Prices are way up and homes are selling faster than this time last year.
Home sales prices climbed steeply in January 2017 across Edmonton. Compared to this time last year sellers were receiving about 9% MORE than sellers did in 2016. This represents an uplift of about $30,000. To keep this in perspective, home sales values last January took a deep dive, so this climb is skewed somewhat.
In total 35 more Edmonton homes sold this January than in January 2016. This is a positive sign. However, inventory levels are high. Based on current demand, it would take 7 months to deplete the current supply of…