December 2019 Edmonton Area Real Estate Report

January 9, 2020 3:41 pm Published by

Welcome to 2020 as we say goodbye to another year of interesting real estate activity in the Edmonton Area. The good news from 2019 is that we saw an increase in the overall sales and a reduction in inventory levels when compared to December 2018. Condominiums which were on a downward trend managed to increase in price by an average of 7.93% year over year while the Single Family and Duplex/Rowhouse prices dipped -3.99% and -5.73%.

We start the year with a mixed sense of optimism. TMX construction has begun but government budget cutbacks and economic uncertainty suggests slow growth in 2020 but with a nice pickup in 2021.

I’m thinking that we might see sales continue to show some growth in the under $350K market as renters take advantage of good prices and reasonable interest rates. I don’t see much reason for prices to rise however unless the inventory declines a bit more in certain segments of the market. I believe this will be more specific to certain neighbourhoods.

With my foggy crystal ball, I wish everyone a Happy and Prosperous New Year!

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This post was written by Cat and Chris