Don't call it a comeback

by Justin da Rosa06 Jun 2016
Agents in this one hard-hit market enjoyed a busier month than they have grown accustomed to, according to recently released stats.

Edmonton agents enjoyed an 18% month-over-month uptick in home sales in April, with a total of 1,771 homes sold.

Single-family detached home sales increased 19.3% month-over-month to 1,119 sales; duplexes and rowhome sales increased 37.2% to 203 sales; and condo sales were up 5.3%.

“Consumer confidence amongst home buyers in Edmonton and surrounding areas remains strong as is reflected by increased unit sales in the single family detached and duplex/rowhouse categories, Steve Sedgwick, Realtors Assocation of Edmonton char, said. “Relative to other markets in Alberta, Edmonton’s resale housing market is solid.”
The average sale price increased to $440,573 in May, up from April’s average of $439,982. However, that was down year-over-year from May 2015’s average of $453,748.

New listings were down in May.

“While new listings coming onto the market were down this May compared to 2015, inventory continues to remain strong with more than 8,000 residential properties on the market at month’s end,” Sedgwick said. “The fact that we haven’t seen a significant decline in prices is giving buyers more assurance. They are making purchases based on market stability and good selection.”

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