Edmonton real estate prices remain unchanged and average number of sales compared to prior years indicates a stable market. The increasing inventory in the last few month, may indicate the possible market decline, if it continues to rise. However, at this point we should wait and see how much it increases and if it does at all in the next couple of months.
The average price for a single family detached home in May of 2017 was $440,907 up by 0.3% from last month and up by 0.3% from May of 2016. The condo prices were down by 2.7% at 250,818 from $257,740 last month. Total of 1,853 residential properties have sold in the 5th month of 2017, 25% more than in April and 2.8% less than in same period last year. The inventory increased to 8,385 residential properties available compared to 7,612 last months and 8,153 in May of 2016. Average Days-On-Market were up by 2 days at 50.
All the information in this article has been provided by Realtors® Association of Edmonton!
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