The resale market for Edmonton has been robust all year and December was no exception. Sales volumes remained strong, sales prices virtually identical to the year before and only a slight increase in days on market.
As we rounded out 2016, the Edmonton market remained robust. Around 15 MORE homes sold in December 2016 in Edmonton than in December 2015, for at total of just under 610 homes sold. This excludes the periphery markets i.e. Sherwood Park, St Albert and Spruce Grove etc.
Days on Market
It was taking home sellers just 4 more days, i.e. average days on market was 66 days to put a buyer under contract in the Edmonton market compared to December 2015.
Don’t be confused by the slant on the graph. Home sales values in Edmonton remained strong and the average sales price was $365,055. Home sellers in December were receiving 99.6% of the value that sellers received in December 2015. This represents a difference of only $1,422 per home sold.
Homes sales values for December was therefore virtually flat.
With 3815 homes and condos for sale, there is currently a 6-month supply based on demand levels experienced in December.
In general, there is a sense that the Edmonton market for 2017 will be similar to 2016, although by the third quarter, if oil prices remain strong and interest levels low, all bets are off.
Want more information about our 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 own due diligence and should not take action based on the information contained herein.