Edmonton Real Estate Statistics For May 2014
The month of May was pretty active for the Edmonton Real Estate Market. The average price of a single family home rose to $371, 871 - 1.6% higher than what we saw in April, and reflective of the steady activity in the market. Once again we noticed that the sweet spot was between the $300,000 - $400,000 price ranges.
There’s less movement when we zoom in on the condo market - an average price of $251,688 as compared to last month’s $251,300. The infographic below shows that there were a total of 3,388 residential properties for sale on the MLS®®, and 58% (1,979) of those listings sold. If your property was on the market longer than 41 days than it was listed above the average days on market.
An interesting trend we’ve noticed that isn’t fully captured in the infographic is that a lot of large suburbs/towns surrounding the Edmonton area such as St. Albert, Sherwood Park, Fort Saskatchewan, Leduc, and Beamount etc. are seeing larger than average rises in sales - this is due the dwindling number of listed residential properties in Edmonton itself. Who knows what next month will bring, but it’s summer - so get out there and enjoy it while you can. And a friendly reminder - whether you’re buying or selling real estate in Edmonton, The Best Edmonton Real Estate team are at your service!