Stuart Neal's Blog

Summary:

Wow what an exciting start to the year in Edmonton's housing market. Homes sales volume is up. Prices are way up and homes are selling faster than this time last year.

Sales Values

Home sales prices climbed steeply in January 2017 across Edmonton. Compared to this time last year sellers were receiving about 9% MORE than sellers did in 2016. This represents an uplift of about $30,000. To keep this in perspective, home sales values last January took a deep dive, so this climb is skewed somewhat.

Numbers Sold:

In total 35 more Edmonton homes sold this January than in January 2016. This is a positive sign. However, inventory levels are high. Based on current demand, it would take 7 months to deplete the current supply of homes for sale.

 Days on Market

Edmonton home sellers achieved sales contracts in only 66 days this January. This is 3 days LESS than in 2016. Another positive note.

Outlook:

We don’t think that many predicted such an exciting start to 2017. It must be noted that January last year was especially quiet and therefore any improvement is somewhat exaggerated. However, home sellers should feel confident and buyers may have to consider acting soon to avoid disappointment. If prices continue to climb they may lose out by having to pay more than they bargained for.

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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Flat Fee Realty Services from $3000

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.