– The average single family home in the Edmonton CMA sold for $439,982 in April 2016, up marginally over March’s average price of $439,815 and April 2015’s average price of $438,641. Listings and sales unit volumes were down for single family detached homes year-over-year, but up over the previous month.
– Condo prices are down less than 1%, likely due to the lower unit sales relative to April 2015. Prices for April 2016 are also down about 1% relative to the previous month. Listings and sales of condominums are up over March 2016, while listings are up and sales are down over April 2015.
“Prices in the Edmonton and Area market remain stable. This is good news for sellers who have been concerned about selling in a ‘buyer’s market’,” REALTORSÂ® Association of Edmonton Chair Steve Sedgwick said. . “Buyers continue to have a great selection of properties to choose from and sellers need to be competitive with their listings. Continued lack of significant movement in the average house price is a good signal that Edmonton’s economy is strong.”
“New listings were slightly down in April, but inventory remains high.” Sedgwick continues, “We expect to see sales continue to rise through the early summer months. It will be interesting to see whether there are many new listings adding to the existing inventory in upcoming months.”
April’s all residential average days-on-market sat at 40 (7 days shorter than the previous year and 13 days shorter than March 2016). On average in April, single family homes sold in 35 days, condominiums sold in 46 days, and duplex/rowhouses sold in an average of 49 days.
If you were thinking about selling your home, or if you or someone you know, are looking to purchase a home, please do not hesitate to call or email.
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