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Edmonton Real Estate Market Continues Downward Trend

I don’t think anyone would be surprised to hear me say that the Edmonton real estate market continues to be weak, and continuing it’s downward trend.

The month of September has not been kind. So far with a couple days left in the month there has only been 332 single-family homes sold.  That is a 14% drop in sales from September 2018.

Year to date we have had 3,702 in comparison to 3.953 last year.  With that in mind based on the number of members of the Realtors Association of Edmonton that would equal to just one home sale per agent.

The other significant number is the average selling price, which this month has been at $362,000 a drop of 6.85% from the same time last year. But remember that average sales price is different from home valuations. Based on my experience valuations have dropped closer to 10%.

So what does this all mean??? This is a great time to buy a home while the market is down and great deals are to be had.  Thinking of buying a home call me today at 780-995-6520

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