How's the Edmonton real estate right now? Is it good to sell or buy?
Edmonton's housing market still remains to be a buyers market which means there is more inventory of homes for sale then those who are buying. However, we're seeing homes selling much faster especially if they are above average condition and price well. We do find some areas are considered a "Sellers Market"This shows very good signs of real estate going into the right direction for recovery but May and June are typically more active then other periods in the year. Its still a good time to buy since there are lower prices compared to the real estate peak in 2014. The good listings sell fast. Foreclosures and homes with basement suites have also picked up a lot of interest in the market.
Its a great time to sell your home in high desired areas like St. Albert, Sherwood Park, and neighbourhoods in Edmonton like Twin Brooks, Schonsee, Blue Quil, and others. Get a free estimate on your house value and neighbourhood now by following here.
How are home prices right now?
All residential home values decreased by -.78% year over year and an increase of .33% month over month! Single family detached homes are steady with little increase in price, However, condos have decrease by -.67% year over year and -2.7% from last month. Duplex and townhouses experienced a large increase in average price with a year or year decrease by -1.52% and month over month at -3.75%. The proof is in the pudding, its still a good time to buy!
How long does it take to sell your house on average?
Right now in Edmonton's real estate market it takes the average home 54 days to sell. Detached homes take 48 days and duplex/townhouses 61 days which is less from the previous month. Condos take even longer to sell compared to last month at 62 days.
What's a REALTOR® opinion?
Is a great time to upgrade to a larger home and to sell your current home! Why? Because the market is hot with buyers who are willing to move fast on a home with an above average experience and also values are still down dramatically compared to the last real estate peak in 2014.
Investors, invest! I do find the good deals move very fast! I've bought may investments for clients on the first day or week since they recieve so much interest. The west end and areas like meadowlark park, and west jasper sell quickly with inventory like bungalows with basement suites. You can get a great investment property at $350k-$375k and cash flow up to $500 or more a month. If you're buying your first investment property feel free to get in touch and I'll find you a deal!