June 2017 Real Estate Report

July 7, 2017 2:37 am Published by

Oh the joy of July summer heat…..l love it!

What also warmed up a bit in the Edmonton area Real Estate market last month was the average price of homes sold. Compared to May, Single Family homes increased 2.91% to $453,735, Condo’s by 3.69% to $260,084 and the Duplex/Rowhouses 1.75% to $350,431.

The overall residential sales numbers were comparable month over month and year over year. BUT the sales of the Duplex/Rowhouses jumped 53.5% compared to May and a whopping 68.86% compared to June 2016! WOW!

Overall, the inventory of available homes is still offering buyers great choice but it’s encouraging to see homes priced right are selling with an average days on market of 53 days.

What does July look like? Who knows? Perhaps Buyers will want to take advantage of the great choice and lock into a home before the anticipated mortgage rates rise. For Sellers, they might want to be competitively priced to sell sooner rather than holding into the post summer season.

In the meantime let’s get out there and enjoy all the great summer activities the Edmonton area offers us!

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