Where is the decline in Edmonton's real estate market that everyone is anticipating? From clients, friends, colleagues, and social media, we have all heard about housing market plunging down in Alberta. I have to admit I have been sceptical myself. I still think the prices will stabilize lower from where we are now, having said that, who really knows. So I think I will just stick to raw data, here we go:
Edmonton's single detached house prices and inventory are up slightly in March of 2015, while number of sales are down!
The average price for a single family detached home in March was $438,880 up by 1.85% from last month, and up by 1.5% from March of 2014. The condo prices were almost unchanged at $249,841 from $250,088. Total of 1,453 residential properties have sold in the 3nd month of 2015, 6.5% less than same period last year. The inventory increased to 5,944 residential properties available compared to 5,008 last months and 4,413 in March of 2014.
All the information in this article has been provided by Realtors® Association of Edmonton!
Below you will find five graphs that correspond to the above statistics:
Brought to you by: Edmonton Homes For Sale Web
Blog Author: Derek Hulewicz, REALTOR® at RE/MAX Real Estate Edmonton phone: 780-220-4224
