Edmonton Home Prices Continue to Climb

Posted by Ambergate Realty Advisors on Monday, April 4th, 2016 at 8:25pm.

Summary:

The big story is that when compared to January 2016, Edmonton home sellers have enjoyed an 11% UPLIFT in values. The Edmonton housing market performed well in March, when measured against our 3 key metrics ie: sales prices, days on the market and sales volumes.

Sales Values

Edmonton home sellers enjoyed a 1% uplift in values over March 2015 for an average of $379,610 dollars. Readers should note that this figure is an impressive 11% UP over January. See this link for details: January Home Sales Report

Numbers Sold:

The market witnessed 99 fewer sales in March 2016 compared to March 2015. However volumes held up well. Approx. 1070 Edmonton home sellers witnessed success.

 

Days on Market

 

Edmonton home buyers were taking their time to make a decision this past March. It took buyers 6 days longer to purchase than in March of last year. However, days on market was still only 50 days.

Outlook:

We expect that sales volumes will continue to build as we move through the year and days on market may come down as Edmonton home buyers start to realize that if they hesitate, they will lose out.

However, we question if prices will continue to appreciate. We are just about to witness the usual ‘Spring Rush’ as the majority of home sellers in Edmonton put their homes up for sale. Inventory levels are already healthy. If supply exceeds demand, then a softening of values is a distinct possibility.

Want more information about our discount and flat fee home selling and purchase programs? Please feel free to call our broker owner Stuart Neal at: 780-760-2014.

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All information was extracted from the Edmonton MLS System on month/date/year. This report is provided for informational purposes only. We do not warrant or guarantee the accuracy of the information in any way. Readers are advised to complete their own due diligence and should not take action based on the information contained herein. 

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