Based on our 3 metrics, the Edmonton real estate market, is holding up extremely well, despite all of the doom and gloom we hear in the media:
For example, 719 homes and condos sold in Edmonton this past February. That’s only 52 units less than in 2015.
Days on Market
Its took 9 days longer for homes to sell in February this year than in 2015, which is not surprising given the current economic uncertainty. Still, at only 52 days average days on market, sales are occurring incredibly fast, when compared to other markets.
As the graph indicates, selling values are down, but not by very much. What’s the actual dollar difference? Average values were $362,240 in February.
Compared to February 2015 that’s ONLY $363 LESS. This is insignificant.
Sellers are holding firm on their prices. Buyers are ultimately capitulating and paying full market value.
What does this mean for home sellers? Enter the market with full confidence that you will sell quickly and for full value.
What does this mean for buyers? If you are in the market for a home now don’t wait. You may not gain any advantage by postponing your decision.
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 March 2, 2016. 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.