Edmonton saw its sales spike and its prices hold steady in October.
“The housing market in Edmonton continues to experience relative stability, with increased sales and steady prices year-over-year for October,” Steve Sedgwick, chair of the Realtors Association of Edmonton, said in a report shared with REP. “We typically see the market slow during the colder months, so it is encouraging to see us moving into late fall with strong numbers.”
The stats are a bit of good news for agents in an area that has seen its market take a hit due to a struggling oil industry.
Sales were up 5.5% year-over-year and single-family home sales jumped 7.1%. A total of 1,265 homes exchanged hands in October.
“We’re seeing buyers who are confident in the future of the Alberta economy, and we are heading towards a solid finish to 2016,” Sedgwick said. “Residential unit sales across all categories are down 6% year-to-date compared to last year, however, our prices remain stable.”
Last month, single-family homes sold for an average of $423,755, which is down a slight 1.75% year-over-year. Condo prices were up 0.5% year-over-year and homes, overall, sold for an average of +0.64% year-over-year.
One hard-hit market may be rebounding, according to recently released statistics.