According to the latest market report from REALTORS® Association of Edmonton, the average selling price of a home in Edmonton climbed 2.2% to $335,187 in the first three months of this year, compared to $328,094 during the first three months of 2011.
“Other markets, such as Toronto, are reporting feverish real estate activity involving multiple offers and unconditional offers but our market is calm, orderly and slowly evolving,” commented Doug Singleton, President of the REALTORS® Association of Edmonton. “Listing activity is up when compared to last year but sales and inventory are down which could indicate that market activity will pick up markedly as the summer progresses.”
Other Edmonton housing statistics for March were:
- A 23.5% surge in listings compared to February
- A 24.5% climb in total sales compared to February
- A 14.6% boost in inventories (residential properties available for sale) compared to February
- A 1.9% drop in the average days-on-market compared to February
- The average selling price of a single family detached home climbed 1.3% from February, to $380,083
- The average selling price for a condominium dipped 1.8% from February, to $231,629
- The average selling price for duplexes and rowhouses jumped 4.1% from February, to $319,020
“April is the start of the real estate season when people who want to buy and sell real estate are most active,” added Singleton. “There is speculation that mortgage rates will start to rise which makes it more difficult for first time buyers. However, there is lots of choice in our market with new properties coming available daily.”
If you’re planning on transitioning from or to your next home, then I’ll help you make sense of these statistics, so that you can maximize your opportunity and enjoy a satisfying, stress-free experience.
Contact me today at (780) 709-0811 with your questions. Remember, I’m here to help!