After we saw sales values drop in January, they rallied nicely in February. This speaks to underlying confidence that home buyers have in the Edmonton market. We all have to live somewhere and renting is not a long term option for most.
Home sellers witnessed some uplift in January.
Sales values were on average $371,698, an impressive $7,300 UP on February 2017.
Month End Inventory
Compared to the end of February 2017 there was 480 MORE listings for sale this year. This equates to a 6 month supply.
Normally an extremely high supply currently a 3 or 4 months’ supply of homes for sale is preferred to keep the market vigorous.
The actual number of sales dropped by 76 units. In