Edmonton Real Estate Minute - March 20, 2023
Here is your Edmonton single family home Real Estate Market Update for the week of March 20th
We are starting to see modest increase in sales volume. I expect this will continue as we get further into the spring market.
The split market continues at this time with homes under $500,000 still in a seller’s market with upward pressure on valuations. As soon as we cross $500,000 we fall back into a buyer’s market with downward pressure on valuations. If you are thinking about selling in the higher price ranges you need to be listed lower than your competition in order to get your home sold in a reasonable time frame.
If you are planing on buying a home in the lower price ranges you are going to want to do that sooner than later as you will see prices rise and waiting will cost you in having to buy at a higher valuation.
In the short term I expect this trend to continue, but eventually we will see that threshold to start moving into the higher price ranges.
So if you want to know if it is the right time to buy or sell contact us today so we can give you the right advice.