Edmonton's Housing Market Update, September 2016

How's the real estate market right now in Edmonton, Alberta and who is benefiting? Edmonton's real estate market is still experiencing a Buyer's Market. August has showed that sales have slowed down by a small percentage compared to previous months. This is due to the period in the year where people statistically take their vacation. People who still benefit from this market are those who are upgrading, buying their first home in Edmonton and real estate investors. Sao id you're wondering if its a good time to buy... yes it is! While prices are still low and mortgage rates are great! 

The top sold prices for luxury homes in Edmonton last month was $3,250,000, top sold price for condos was $1,288,000 and the top sold price for a duplex was $815,000. 

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The average selling prices of homes in Edmonton and greater areas have dropped by 4% compared to last month. The current the average price of all residential homes is $369,956. This can be explained by the amount of people who take vacations which always has a cooling effect on the real estate market during this time of year. 

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The average days it takes to sell a single family home is 49 days which is less then the previous month. This is good news for homeowners who are selling in today market. Condos are remaining around the same days to sell at 62 days. In conclusion, the average days to sell a condo or single family home n Edmonton remains he same as 2015. 

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If you're looking for a strategy to sell, buy or invest in Edmonton right now, I strongly suggest speaking with a REALTOR® for expert advise. Free free to call or text myself at 780-490-6730 and please visit my website engineered by RE/MAX to search for homes online. I think you enjoy how great it is to find and save homes for sale. 
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Resources: ereb.com

​​Christian Bailey 
RE/MAX River City
780-490-6730

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