COVID19 Effect on July’s Market
Tue, 18 Aug“It feels like a Spring market in July.” This is what I have been saying to people as I interact with them about real estate in Edmonton and area.
Here is a rundown of the City of Edmonton ONLY statistics for the month of July 2020.
We are in a Seller’s market for all product categories, except condos. They have now moved into a balanced position for the first time in MANY months. There are 3 months of inventory of single family dwellings and Duplex/Row houses have 2.7 months. Low inventory is driving this seller’s positioning in our market.
As for average prices, they are on the upswing month over month in all categories. Single family dwellings have seen the highest increase of 3.4%, condos a conservative 1.1% and 2.4% in duplex/rowhouses.
Year over year average prices have increased modestly at 1.6% for SFD and .1% for Dup/RH. Condos remained flat with a .7% decrease.
Currently one in 4.5 properties are selling.
If you have been postponing your decision to sell or buy because of COVID19, let’s talk. Now could be the opportunity and the best timing for a transition. I can give you more specific market information on your neighborhood sales. Call me at 780-893-9987.
All about you. Really.