The REALTORS Association of Edmonton released its annual housing forecast. The report indicates that single family homes performed well in 2016, with a slight drop in unit sales and average prices. Unit sales are predicted to continue to decline until the middle of 2017, ending the year approximately 1.7% under 2016 numbers. Single family Edmonton homes prices are expected to decrease by 2.2%. Inventory is expected to remain higher then in previous years. Continued strength in the $350,000 to $450,000 single family home prices category is expected.
Chair of REALTORS Association James Mabey said ,, Edmonton had a positive 2016 despite ongoing economic uncertainty. Buyers are continuing to remain cautious, and sellers are having to set appropriate expectations and evaluate their motivation and urgency,,