Spring Market has Sprung!
Sun, 14 Apr“It’s great to see an increase of just over 30% for new listings last month, but our overall inventory is still lower than last year by 15%.” says REALTORS® Association of Edmonton 2024 Board Chair Melanie Boles. “Unit sales numbers are still strong, but not outpacing the new listings; they’re actually very balanced with each other and that’s positive for both buyers and sellers.”
Here are March statistics for the City of Edmonton only.
All residential average price is up 8.3% year over year and up 4.2% month over month. All product categories are sitting in a SELLERS market position.
Detached home average price is up 5.7% Y/Y and up 1.6% M/M.
Semi Detached (duplex) average price is up 12.4% Y/Y and up 6.3% M/M.
Row/Townhouse average price is up 16.9% Y/Y and up 1.7% M/M.
Apartment average price is up 0.8% Y/Y and up 13.4% M/M.
Every category showed an increase in average price both year over year and month over month. And every category is in a sellers market position. Low inventory and lower mortgage rates are creating a very active market.
It is still not too late to realize your dream of transitioning your home or starting out in home ownership.
Call me for professional representation.
All about you. Really.