Bi-Annual Market Report – for Highlands, Bellevue & Virginia Park

Posted by Stuart Neal on Thursday, July 16th, 2020 at 6:18pm.

Highlands & Bellevue*

Jan to June 2019

Jan to June 2020

Change

 

 

 

 

# Homes Offered

75

62

-13

 

 

 

 

# Homes Sold

40

22

-18

Absorption Rate

53%

36%

-17%

 

 

 

 

Average Sold Prices

$368,362

$382,961

+4%

Days on Market

63

65

+ 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.  

All the best & enjoy your Summer

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