January 2017 Real Estate Market Update

February 3, 2017 3:53 am Published by

Wow, January 2017 was a pretty good start for the Edmonton Census Metropolitan Area (CMA) residential real estate sales with an increase of 19.2% year over year! While one month doesn`t make a trend, it leaves me thinking that consumer confidence is showing some strength. If nothing else, the market shows some positive signs with price stability.

While sales in Single Family homes and Townhouses increased compared to January 2016, Condo sales declined about 11%. If there is a positive note regarding this segment, the average Condo price increased 8.7% to $246,727. The average Single Family sold for $416,859 in the CMA ($433,856 in Edmonton), on par with January 2016. January doubled the number of new listings brought to market over December 2016 in line with expectations. While the overall inventory level favours buyers, it decreased about 3% year over the year.

With January behind us and the days getting longer, join me in hoping those groundhogs are wrong and spring, springs early!

As always, please give me a call if you have any questions or if I may be of some service.

Cheers,

Chris Keeler

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This post was written by Cat and Chris