Bi-Annual Market Report – for Highlands, Bellevue & Virginia Park
by Stuart Neal
on Thursday, July 16th, 2020 at 6:18pm.
Highlands & Bellevue*
Jan to June 2019
Jan to June 2020
# Homes Offered
# Homes Sold
Average Sold Prices
Days on Market
+ 2 days
* Source Edmonton MLS® System Highlands & Bellevue – Single Family
Fewer homes were offered, & far fewer homes sold when compared to the same period last year, but given we were in the middle of Covid 19, that might not be such a surprise.
The absorption rate, that is the percentage of homes sold in relation to the number offered was also down. However, sales prices were UP by 4%when compared to the same period last year & that will surprise many. Does that mean there was a ‘flight to quality’? Or it could mean we have too few sales to be clear.
As for the future, we expect interesting times as mortgage deferrals come to an end & whilst the experts continue to figure out how to get us through the COVID 19 crisis.
Perhaps, its never been more important to pick an EXPERT REALTOR® to sell your home, particularly where the ‘product mix’ of homes is as varied in our community, where we have million-dollar homes situated next to potential teardowns.
If you know someone that would be interested in a pre-sale consultation, please let me know.