Homes Prices Remains Solid In Edmonton

For the month of September, there were 1,339 units reportedly sold in Edmonton, according to the real estate agents. The sales figure for homes slowed down for last month and declined by 6.56 per cent from a month earlier, and decreased by 8.41 per cent over the year. Nonetheless, the average sale price went up by 1.1 per cent in that month and 1.5 per cent over the previous year as the price stayed solid.

Steve Sedgwick, the Chair of the Realtors Association of Edmonton said; “We are moving into the quieter real estate months with a healthy inventory, strong prices and slower listings and sales. It continues to be a good time to buy. We usually see less inventory coming into winter months, so it is beneficial for buyers to have a respectable selection and reassuring for sellers to see continued stability in average sale prices.”

The sales of detached homes went down by 3 per cent, followed by row house/duplex sales which decline by 5.59 per cent. Condo experienced the largest drop in sales, down by 20 per cent year-over-year. For the month of September, inventory went up to about 10 per cent, compared to the previous year. Steve said that sellers should be ready to be on hold longer than expected for homes to be sold off. Prices will be faced with plunging pressure in the upcoming months, however, the stable condition of the market has no cause to instill fear in agents when it comes to the price level.