Edmonton Real Estate Statistics For April 2014
The Edmonton real estate market is in full force, and seems to be moving at a very fast past. We have noticed that homes priced between the $300,000 - 400,000 ranges are selling well below the recorded average days on market.
The following infographic indicates that 62% of residential properties listed on the MLS®® in April sold. This is fantastic news for Sellers, many of whom saw multiple offers placed on their listing. With an average of just 42 days before a listed property is sold, Buyers will have to act fast when looking for a place - or risk missing out.
The average sale price of a Single Family Dwelling increased 4.5% from April 2013. The average price of $365,045 for April 2014 is still very reasonable when compared to other major Canadian cities. On a side note, the median selling price for all residential properties in Edmonton was $349,000.
Here’s the thing: real estate can change without notice. Currently Edmonton seems to be in what REALTOR®S®® would call a “Seller’s Market”. The demand is high and the supply is low. But one thing that we have noticed is that prices aren’t increasing at a rapid rate, so whether you’re Buying or Selling, now is a great time to be in the market - and if you have any questions, The Best Edmonton Real Estate team is always here to help.
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