July was a pleasant surprise for home sellers in Edmonton. After witnessing a slight decline in June home sale values, prices jumped back up significantly in July 2016. Sales volume remains lower and it’s still taking longer to sell a home however.
Home sellers across Edmonton enjoyed a 4% uplift in values compared to the same period last year. Homes sold for an average price of $387,916 compared to $373,809 in July 2015, or $14,107 more.
Days on Market
In July it took on average 52 days to sell a home compared to only 49 days last year. We have seen this gap shrink as the year has progressed.
Only 228 fewer homes Edmonton homes sold in June 2016 compared to June of last year.
If you need to sell a home or a condo this could be the right time. There is strong demand and values are holding.
If you are buyer looking for a home don’t wait for that mythical market correction. It would seem that the home sales market is very much ‘business as usual’. Wait and you will almost certainly pay more.
Want more information about our discount and flat fee home selling and purchase programs? Please feel free to call our broker owner Stuart Neal at: 780-760-2014.
All information was extracted from the Edmonton MLS System in early August 2016. 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 own due diligence and should not take action based on the information contained herein.