The COVID19 Hit On The Real Estate Market For Edmonton
Fri, 08 MayWondering how COVID19 has effected the residential real estate market in Edmonton? Here’s what happened in April 2020.
Average prices have gone down year over year by marginal amounts. But month over month prices have increased. The inventory numbers are causing a strong buyers market which we anticipated.
All residential average price has decreased by only .8% year over year but increased 4.6% month over month. There is 10.1 months of inventory currently.
Single Family average price has decreased 2.7% Y/Y but increased 2.1% M/M. There is 8 months of inventory.
Condo average price decreased 1.2% Y/Y but increased M/M by 1.9%. There is 15 months of inventory.
Duplex/Rowhouse average price increased Y/Y by 2.1% and 5.5% M/M. There is 10.3 months of inventory.
So it appears that sellers weren’t willing to sacrifice price for COVID 19. Buyers were still willing to offer close to list prices.
As a real estate professional, I have access to the latest data and information, and can give you a clear picture of what’s going on in your specific neighborhood. I can offer you some clarity, which is so important in a time of so much uncertainty.
So, please, don’t hesitate to reach out to me. I’m here to help.