Edmonton Real Estate Market Report for the month of March, 2017
Emonton, April 4, 2017:
In March, 1,474 MLS® system listed properties sold in the Edmonton Census Metropolitan Area (CMA), which is an increase of 31.8% over February 2017, and an increase of 1.8% relative to March 2016. New listings were also up this month to 3,080, an increase of 26.7% compared to February 2017 and increase of 1.4% in March 2016.
“We generally see activity in the housing market start to increase at this time of year,” says James Mabey, REALTORS® Association of Edmonton Chair. “Buyers can look forward to more inventory to choose from and sellers can count on more buyers in the marketplace.”
Average prices are increasing in all categories compared to February 2017. The all residential average unit sales price was $371,680, which is up 3.1%. The average price of a single family home was $439,139, which is an increase of 3.0%. Duplexes and rowhouses increased 0.41%, to an average sale price of $348,806. Relative to March 2016, the average selling price of a single family home increased 0.49% and the average selling price of a duplex/rowhouse increased 3.2%. Condominium average prices increased to $242,632, an increase of 3.86% compared to February 2017. Unit sales of condominiums also increased, from 357 in February to 398 in March.
“It is promising to see positive movement in the condo market. We have seen a large increase in both new and resale inventory, so it is good to see sales starting to follow suit,” says Mabey.
Overall, average DOM for all residential properties in March was 57, which is a decrease from 65 days in February 2017, and an increase compared to March 2016 at 53 average days. Condominiums average DOM decreased from 74 days in February 2017 to 67 days. Duplex/rowhouses average DOM decreased as well, from 80 days in February 2017 to 62 days in March, which was identical to March 2016. Single family homes decreased from 58 days in February 2017 to 50 days in March, which was one day longer than March 2016 at 49 days.
Simply fill out this form to receive your free home evaluation. Our experienced real estate team from Realty Executives will review your home's details, and provide you with an up-to-date Comparable Market Analysis.
Get a Free Home Evaluation!
Edmonton Realtor Robert Fyfe on your side when Buying or Selling Edmonton Real Estate 780-700-4075
Interested in more information about All Edmonton homes for sale? Contact Top Edmonton Realtor ® Robert Fyfe of Realty Executives Progressive via email, phone 780-700-4075 or try a custom Edmonton Area MLS ® Search. In today's market it is so important to have the best Realtor on your team when buying or selling Edmonton Real Estate. Protect your largest investment and go with a team you can trust.