Blazing through the first month of 2016, Team Leading Edge brings you good news!
As you will see in the chart below, it provides evidence that the Edmonton real estate market is showing signs of recovery. Except for Total Sales, the important market indicators that we follow are on the green.
See previous report here: Edmonton Real Estate Market Update: Nov 20 - Dec 4 2015
For the week covering January 21 to 28, New Listings of Single Family Dwellings increased to 294. That's a solid increase of 32% compared to Nov 20 - Dec 2015 records. This translates to 22 new home sellers entering the Edmonton real estate market.
Average List Price hit $314,744 while Average Sale Price is $302,382, a difference of $12,362. Not a bad discount. Average Days on Market is pegged at 52 from 56 a month ago.This is the sad part, Total Sales slumped to 125.
The stats for Jan 28 to Feb 4 2016 compliments the achievements made the previous week. New Listings jumped 29% to 380, that's additional +86 new home sellers on the market!
Average List Price reached $329,195 and Average Sale Price peaked at $317,791. This is translates to a drop of -7.7% or $11,404 from the price difference compared to the previous week. That saves you $958!
Average Sale Price/Sq Ft went up by $4.92 and Average Days on Market almost stayed the same at 53. Total Sales plunged to 107 from 125 the previous week.
By all accounts, we have now entered the buyer's market. We briefly explained the buyer's market here: Edmonton Home Sellers: How To Sell In A Buyers’ Market
If you're looking to sell, now is the right time to put your property on the market and if you're a buyer, well, things are looking up for you. With the number of inventory on the rise, you and you're family have the ability to pick and chose Edmonton homes without restraint. 380 New Listings is quite a big number. Good luck!
Note: Remember, you can access all our available Homes For Sale in Edmonton through our Edmonton MLS Listings page.
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