September Slow Down

Posted by Maxwell Progressive on Tuesday, October 4th, 2016 at 10:17am.

but the Edmonton market continues to remain stable during economic uncertainty.

The sales of single family homes in Edmonton for the month of September are down 8.9% from this time last year. 734 homes were reported sold on the MLS® in Edmonton last month. 

278 condos were reported sold in September also down from the 397 sales we seen in 2015 in the Edmonton area. 

 

The average sale price of single family homes for the city was $429,325 

The Median price was $389,450

Average days on the market was 51 for single family homes and 59 days for Condos to move. 

9 properties sold that were over 1 million dollars. The most expensive being sold in the neighbourhood of Glenora.

The average price of Edmonton condos was down 1.7% to $250,952 and the median was down 0.5% $230,350.

Edmonton Housing market

“We expect to see listings and sales slow as winter approaches. We may begin to see the effects of slight downward pressure on prices, but do not expect to see any drastic movement as our market continues to remain stable,” said Sedgwick. “Sellers can expect to wait a little longer than previous years for their property to sell.”

“We are moving into the quieter real estate months with a healthy inventory, strong prices and slower listings and sales,” said Steve Sedgwick, Chair of the REALTORS® Association of Edmonton. “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.”  source Edmonton Real Estate Board 

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