Having a great weekend? We hope you do because in our Edmonton Real Estate Market Weekly Updateyou can expect to have a roller coaster ride in the next week ahead (that is, if you're selling your Edmonton home).
This Saturday, we present to you the real estate stats that matter.
We crammed 2 weeks worth of data into this single post to keep you up to speed. In the first graph covering the October 9 to October 16, almost all the key real estate indicators are on the red while the most important is up on the green. Average days on the market is now only at 45 days. That's just a month and half for your Edmonton home to get sold off the Edmonton MLS.
The following week covering October 16 to October 2015, new listings, average list and sale price and total sales are all still plunging. Average sale price per sq ft on the other hand grew by merely $1.89, from $279,09 to $280.98. Average days on the market took a hit, from 45 days extending to 54 days (that is 6 days short of 2 months on the Edmonton MLS, and that is not good).
If you're thinking of buying, now is the right time since prices are going down. If you're on the selling side, it's still a great time to sell your Edmonton home before the holiday seasons. Based from our previous experience, the holiday season tend to create stagnation in the market. You wouldn't want to get your home stuck in the Edmonton MLS for more than 3 months so the sooner you start selling, the faster you'll start earning. Good luck!
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