780-893-9987 RE/MAX Real Estate

Every year I look forward to the REALTORS® Association of Edmonton Annual Housing Forecast Seminar. It gives us a picture into the coming year about prices and market activity.

My summary of the predictions is simple. It’s going to be a flat year for Edmonton and area real estate.

 

Here are the predictions.

The NUMBER OF SALES, Single Family Dwellings are up .88% while PRICES are expected to soften by .9%.

Condos are predicted to fall 2.4% in NUMBER OF SALES while PRICES may drop by 2%.

Duplex and Rowhouses are up 3.74% in NUMBER OF SALES while PRICES will only increase by .2%.

All residential, for NUMBER OF SALES may increase by .73% while PRICES are expected to drop by .9%.

The story behind some of these numbers is the INVENTORY, which is expected to increase by 1.96% for Single family dwellings, 4.42% for Condos, and .68% for Duplex and Rowhouses.

 

What does all this mean? 2018 will be a great time to buy a condo. There will be stable prices for houses on both sides of the transaction. If one is downsizing from a house to a condo, you won’t see inflated pricing with your sell, but will get a good deal on your purchase. And the starter home market of duplex and rowhouses will be the hot spot of the market.

Tags:

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the REALTORS® Association of Edmonton. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.