Congrats to Leigh and Emily on their first home, and Jillian and Martin on their first investment property and Brad on his FULL ASKING price sale!
All residential average sale prices remained virtually the same as June of 2015, up only 0.1%. At $435,366, single family homes experienced a decline in average price of 1.1% from May and 1.8% from June last year. The average condo price was bolstered by the sale of several luxury properties. At $263,326, it was up 3.5% from May and 2.5% from last year. The average duplex/rowhouse sold for $352,7785 (up 4.6% y/y, up 0.7% m/m).
Total new residential listings in June were 3,041, down 6% from May and down 4.7% from the previous year. There were 8,179 residential properties available in the Edmonton CMA at the end of June. That is up from 7,177 in June of 2015 and 5,609 in June of 2014.
“Inventory remains high and buyers continue to have good selection,” Sedgwick said. “This is welcome particularly to those looking in the popular $350,000 to $450,000 single family price range.”
In June, the all residential average days-on-market was 53 days, down 1 day from May and up 4 days relative to June 2015. On average, single family detached homes sold in 50 days in June, while condominiums sold in an average of 58 days and duplex/rowhouses sold in 53 days.
As always, if you have a nice property it will sell when priced correctly, however patience is important.
If you have any real esate questions you can contact me anytime.
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