Edmonton Home Prices Are Strong And Takes Less Days To Sell! May 2016

​Photo by realinbox.com

May 2016 Update 

Click Here to see how much your home is worth.

An average home sells within 40 days in Edmonton and areas compared to 45 days in 2015. In March 2016, the average days to sell was 53 days. This suggests that Buyers confidence is back and the housing demand has increased. Home prices have been steady when compared to year or year and month over month despite the oil industry's economical effects on Alberta's market place.

Success Ratio
Less then 19% of listing sell, in 2015 this time 25% of listings sold. This suggests a 6% decrease in homeowners successfully selling their home.

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The decrease in sold listings and the increase of inventory at 18.41% does in fact, show our real estate market is down compared to 2015 despite the stable prices. 

As a REALTOR®, I find the good homes sell quickly and the average listings seem to stick around longer or don't sell at all. Pricing and condition needs to be above average to out perform this market.

For a true value of what your home could sell for in this market Click Here and receive a full report.

What Type Of Market Is It? 
​Currently, we have 5.6 months of listing inventory for sale in Edmonton, Alberta. This means, if no other homes are listed for sale it would take 5.6 months to sell all of them. There is more supply then there is demand, we call this market a Buyer's Market. The people who are purchasing a home have the advantage due to the amount of homes for sale and the prices that are driven down due to Seller competition. However, we do see prices are very stable despite the amount of inventory. That's the good news for homeowners looking to sell!

Resource: www.ereb.com

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

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