“2017 was a steady year for real estate in Edmonton and many of the surrounding municipalities, where sales and prices were quite stable for the majority of the year,” said Darcy Torhjelm, Realtors Association of Edmonton Chair.
“For most of the year we continued to see home buyers take advantage of low mortgage rates and a slightly increased inventory, while sellers enjoyed solid prices for their properties.”
The Edmonton CMA saw 16,441 sales in 2017, up 1.5% from the previous year with modest average price rises of 0.77% for single-family homes ($437,774), 0.12% for duplex/rowhouses ($348,225) and 0.96% for condos ($248,130).
As is seasonally normal, sales dropped in December from November, but were up year over year from December 2016 in all categories.
“Now that the holiday season is over and a new year is here, we expect listings and sales to begin to ramp up again,” said Torhjelm.
More market update:
There were some positive signs for the Edmonton housing market in 2017 and Realtors are optimistic that the New Year will bring continued improvement.