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May 2016 Update
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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.
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.
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.
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RE/MAX River City