May 2017 Real Estate Report

June 5, 2017 1:38 pm Published by

The trees are in bloom, the flowers are planted and the days are getting long; it must be June!

Spring and early summer is an active time to move and the sales trend proved this correct. Overall sales of Residential properties jumped +25.4 % over April 2017 and year to date, we are +2.7% stronger than 2016. That said, May 2016 was a pretty good sales month and we saw the May 2017 overall sales decrease -2.8% in comparison.

Don’t believe all the media reports, Edmonton is not Toronto with runaway prices and a bubble about to burst! Price stability is evidenced in the Single Family category with the average home sale at $440,907. There was even a bit of a decline in Condo’s at $250,818 and Duplex/Townhouses to $344,406. This reflects a surplus inventory and a Buyer’s market.

Our experience is still the same old theme. If it’s priced right and it reflects good value, the Buyers will come and in some cases with multiple offers!

Fun fact: The highest priced home sold in May went for $2,638,800!

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