Despite of Rate Worries, Low Inventory Causes Increase in Average Sale Prices
Everyone is talking about it:
1) interest rates are up[when will they go down]
2) total sales are down- came to 1812 decreasing from September 2023 by 12%, but showing an increase of 21% over October 2022
3) Total residential average prices came on at $396,550, a 0.6% increase from September 2023, and a 0.7% decrease from October 2022
But, don't believe everything you hear. The sky isn't falling [ Homes are still selling, I was in multiple offer situation with 8 competing offers]. here is what is actually happening in the Edmonton real estate market.
Sellers who [ price right / stage right / are flexible with viewings ] are still selling.
Buyers have time to [ do inspections, shop, negotiate, get what they want ]
IF YOU ARE LOOKING TO BUY OR SELL, I AM HERE FOR YOU!
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Edmonton Market Data,
Price
Detached Houses - down 1.4% from September 2023 [but up 1.8% year-over-year]
Semi-detached sold for an average of $385,895 -Up 9% from the previous month
Apartment Condos - average price hit $203,663 Up 11.8 % from last month
Supply
Total Inventory - Down 4.9% from September 2023
Demand
Total residential sales in the Greater Edmonton Area[GEA] real estate market for October came to 1812, decreasing from September 2023 by 12%, but showing an increase of 21% over October 2022.
If you are thinking of selling your home or buying one send me an email/text/call and let's get started 780 919 0201
