“It’s expected that the spring market will be busy this year, but when you see detached single family homes are already selling 60.5% more units than last year, it makes you sit up and take notice,” says REALTORS® Association of Edmonton 2023 Board Chair Melanie Boles. “If the month-to month change in sales continues at this pace, then it will be a hot market indeed.”
Here the numbers for the City of Edmonton only for February 2024.
All residential sales average prices are up 9.3% Year over Year and 0.1% Month over Month. The market is in a Sellers position with 2.3 months of inventory
Detached homes prices are up 10% Y/Y and 4.5% M/M. This product is also in a Sellers position of 2.1 months of inventory.
Semi detached homes prices are up 7.9% Y/Y and up 1.1% M/M. They have 1.7 months of inventory, a sellers market.
Row/Townhouse prices are up 8.5% Y/Y and up 0.6% M/M with only 1.2 months of inventory, favoring sellers.
Apartments are down 6.2% Y/Y and 8.5% M/M. However low inventory is making this product line very popular with investors. They are in a sellers market position of 3.1 months of inventory.
This is the perfect time to sell a house/townhouse/half duplex and downsize to an apartment.
Whatever your next transition is, call me for up to date stats and professional representation.
All about you. Really.
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