September 2017 Real Estate Report

October 6, 2017 4:13 pm Published by

Welcome to my monthly Edmonton Area real estate market report for September 2017. For some reason, on most days when I write these reports the weather in Edmonton is terrific. Today is no exception with a calm, sunny high of +19. To top it off Conner scored a hat trick on opening night and Thanksgiving is this weekend. What could be better?

Well, the area real estate sales perhaps? September saw a slip in overall sales of -13.04% from August and a year-over-year decrease of -6.35%. A closer look reveals that although we saw a drop from August, the sales of Condo’s and Duplex/Rowhouse’s were actually higher than in September 2016. It’s the affordability and selection that works in the favour of many Buyers. In fact, homes priced in the $250,000 – $350,000 range accounted for 31% of the month’s sales.

The average home prices are holding fairly steady year over year with some adjustments month over month. For example Condo prices increased +2.91% over August while Duplex/Rowhouse’s declined -3.52%.

The overall inventory declined a tad from the peak in July but continues to leave Buyer’s in the driver’s seat with a lot of choice.

Quick Stats:

  • Average Prices:
    • Single Family                 $430,644
    •  Condominium              $252,313
    • Duplex/Rowhouse’s       $342,630
  • Total Inventory:
    • 8361 Residential Properties For Sale
    • -1.21%  lower than August 2017
  • Average Days on Market
    • 58 Days

 

In summary, I expected to see a bit more sales activity in September as people typically want to move before the snow flies. Let’s see how October rolls.

As always, I appreciate your referrals and if I may of any service, please let me know.

Happy Thanksgiving!

Chris

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This post was written by Cat and Chris