In April, sales volume blew through the roof compared to last year, although price gains moderated. With strong buyer demand and lower inventory, we anticipate brisk activity during the next few months.

Sales Values

In April 2021, average sales prices stayed high at $395,567, just below the average price of $396,006 in March. Have we seen the peak for the year? No one knows for sure and certainly in a normal year, we would see sales prices peak in May and June. 

Days on Market

Our days on market stat. continues to amaze. Buyers have been snapping up homes ever more quickly since the start of the year. Average days on market in April was only 39 days, compared to 62 days in 2020 and 57 days in 2019.

Sales Volume

Last year there were 524 total Edmonton sales registered in April and this was the absolute bottom of the market, driven by the Covid 19 pandemic. Here we are at month end in April 2021 with 1595 units reported sold. In other words, the April market was 3 times larger than the year before. My personal view is that this volume cannot be sustained and we should see some moderation over the next few months.

At month end, total available inventory was 5424 homes for sale, equal to an increase 4%, compared to the end of April 2020, when 5205 units were available for sale. In March, the deficit was 7% and there is a SURPLUS of condos.

These numbers don’t give us the whole picture. Single family inventory is still lower than last year by 552 units, whilst Condos are 771 units UP.

The Condo Market is awash with inventory and values are down. Single Family is still very strong because inventory is tight and demand is high, particularly in the suburbs. The suburbs certainly offer more house for the money when compared to central locations, where traditionally people would go for convenience. With more people working from home convenience has lost some of its allure.

Perhaps when COVID is behind us and the boss wants everyone back in the office, those central locations will again become attractive and the suburbs will lose some of their appeal.

Look for my April 2021 report during the first week of May. Thank you.

About the author:

You can read more about the author of this blog by clicking this link – Stuart Neal Broker Owner & REALTOR®.

Want more information about our full service affordable FLAT FEE home selling programs? Please feel free to call our broker owner Stuart Neal at: 780-760-2014 or visit our home sellers page www.FlatFeeRealtyAdvisors.ca


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