Lots of Choice for Home Buyers – Values Stay UP!

Posted by Ambergate Realty Advisors on Wednesday, October 5th, 2016 at 12:14pm.

Summary:

The supply of homes for sale remains stubbornly high. Based on current demand, if no other home sellers entered the market it would take 5 months to sell out. However, sales values in September were impressive compared to the same time last year.

Sales Values

 

Sales values increased in September by more than $10,750 over September 2015. This represents a 3% INCREASE.  

Days on Market

 

Days on market has slowed slightly. 51 days on market for September 2015 compared to 54 days this year.

Numbers Sold:

 

124 fewer homes Edmonton homes sold in September compared to last year. This could be concerning. The drop in numbers for August was only 7.

Outlook:

So far this year, home sellers have continued to do well. In most cases, they have sold for the same or MORE than they would have received last year.

We also know that typically, values should  CLIMB in October and November as pre-Christmas buyer demand stays strong and unmotivated sellers leave the market.

Beyond that, will the strength continue? Inventory levels remain high. There are 5 months of supply. If inventory levels grow (unlikely at this time of year) then values could be threatened.

For buyers there are plenty of homes to choose from, many of which are available to move into right away. You could be home for Christmas.

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. 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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