Here’s the statistical snapshot:
- All-residential average price decreased $310
- Single family home prices decreased $425
- Condo prices rose $1,305
- Residential sales were down 7.8%
- Residential listing activity rose 9.8%
- Inventory of homes on the Multiple Listing Service® increased 4.6%
- The average days-on-market in April was 49 days.
- The residential sales-to-listing ratio was 45% in April
So what do all these numbers mean for buyers and sellers? Well, it means a few different things.
If you’re a buyer, the increase in new listings means that inventory is strong and there are many great homes to choose from.
If you’re a seller, it means that it’s very important to have a pricing strategy so that your home doesn’t get passed over; especially if you’re looking to sell in the short term vs. the long term.
If you’re looking to buy or sell in this stable – but still very active – Edmonton housing market, contact me at 780-709-0811. I’m here to help!