Spring has NOT sprung in Edmonton as yet! Typically by April we start to see a lot of buying and selling activity in the real estate market. This year seems to be an exception. Anecdotally, the cooler temperatures, snow falls, and early Easter seem to be the causes.
That being said, the City of Edmonton has seen a small drop in the number of months of inventory, month over month, in all product categories for March 2018.
Also prices have soften in all product categories year over year. And all product categories have softened month over month with the exception of Single Family Dwellings. Average prices have increased by 1.3% for houses from February to March 2018.
What does this mean for sellers? You still have time to get your home on the market if you were hoping for a Spring 2018 sale.
For Buyers this means there is still lots of inventory to choose from and prices haven’t caught up with the typical up tick in Spring. You still have time to buy your home at Winter prices.
Make sure that whatever you do in buying or selling you are represented by a professional real estate associate. Choose me and I will save you time, money and relieve much of the stress of making these kinds of transitions.