February Market Report - February 2018 Home Sales Values Picked Up Nicely in February
by Stuart Neal
on Tuesday, March 6th, 2018 at 11:35am.
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 total 792 homes sold in February 2018.
Days on Market:
Average days on market was only 63 days and just one more day than last year. Given the high inventory levels available, this is very positive.Homes went under contract in 69 days this December to 66 days in December 2016. This could be significant when the higher levels of inventory are taken into account.
Want more information about our value packed discounted 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 due diligence and should not necessarily take action based on the information contained herein.