June Home Sales Volume Surges

Posted by Stuart Neal on Wednesday, July 1st, 2020 at 7:48pm.

 

The number of homes sales in June 2020 surpassed that of 2019 and 2018.

1288 homes sold in June 2020 compared to 1287 in 2019 and only 1267 homes sold in 2018.

Sales values are lower than for the last 2 years and home sellers are currently allowing about a 5% discount when compared to 2019.

The average price paid for a home in metro Edmonton in June 2020 was $360,346 compared to $378,813 last year.

However, the average price paid in May 2020 was $358,891 and so values have climbed and especially so since March when average prices were only $345,828 which is right when the Covid 19 pandemic really hit home in Edmonton.

For the balance of the year, we anticipate strong pent up demand and due to reduced inventory levels, (there is currently 911 fewer homes and condos for sale compared to last year) values will stay flat and may even increase during the fourth quarter.

About the author:

You can read more about the author of this blog by clicking this link – Stuart Neal Broker Owner & REALTOR®.

Want more information about our full service FLAT FEE home selling programs? Please feel free to call our broker owner Stuart Neal at: 780-760-2014 or visit our home sellers page www.FlatFeeRealtyAdvisors.ca

July 3rd 2020

P.S Due to late reporting of some sales, we can now report that sales for June increased to 1361 units sold which is 106% of last years volume. Average prices settled at $361,345 which is 5% down on last years values.

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