Despite the rising inventory, and a “buyer’s market,” prices remain stable in April. This is great news for sellers who have been concerned with selling in this type of market.
REALTORS® Association of Edmonton Chair Steve Segwick 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."
The average SFDH prices in Edmonton sold for $439,982, which was slightly up over March’s and April 2015’s sales price. Listing and sales volume were down for SFDH were down year-over-year, but up from the previous month.
“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.”
Here's a great explanation of what's going on in the Alberta market, from CMHC President and CEO Evan Siddall: "You see that especially in the Edmonton area, there’s more government-oriented jobs there. That market is a little bit stronger than in Calgary. But we are still experiencing growth in educational services, health care and social services. That area is still growing in Alberta. The government of Alberta has purposely decided to have an expansionary fiscal policy and are borrowing money right now to stimulate the economy. The trade-off is down the road, as a province we have to pay back that debt, but the current policy now for the government is to try to stimulate the economy while it’s in a period of contraction."
If you're looking for a home in this buyers' market, don't hesitate to call me at 780-709-0811 or contact me here!