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STATS: Where Edmonton Home Sellers Stand This Q1 2015

We’ve analyzed the charts presented by The Canadian Real Estate Association (CREA) and REALTORS® Association of Edmonton in regards to the real estate activity in Alberta and checked the current outlook for Edmonton home sellers.

Below is our finding. This only represents this blog’s broad opinion on the matter and by no means guarantee the accuracy of the statistics.

 According to CREA, “Residential sales activity reported through the MLS® Systems of real estate boards in Alberta numbered 3,445 units in February 2015, down 27.1 per cent from a year earlier.”

The Monthly Residential Average Prices show that the city of Edmonton has gained +0.8% from year ago prices while Calgary is down -3.6%.

Overall the province of Alberta had an increase of 11.2% as compared to last year on New Listings on the MLS, this translates to a total of 8,750 new properties for sale.

The home prices in Edmonton might have increased but its recorded home sales have dropped down to only 1,073, that is 17.5% lower compared to February 2014.

Total value of home sales reached $383.8 million in February 2015, 16.9% lower year-over-year basis. This tremendous drop might be result of the slumping oil prices to which, as we all know, the city’s economy is virtually tied to.

As you can see in the chart below, Edmonton is still belongs to the top 3 in terms of Residential Average Price ($357,693). A healthy number for both homebuyers and home sellers.

STATS: Where Edmonton Home Sellers Stand This Q1 2015

Courtesy of The Canadian Real Estate Association

Year-To-Date stats also show a positive result with Residential Average Price hovering within the $362,022 margin. No dramatic increase, which means there’s no bubble or hype over real estate prices.

STATS: Where Edmonton Home Sellers Stand This Q1 2015

Courtesy of The Canadian Real Estate Association

REALTORS® Association of Edmonton provides us with a detailed overview of the city’s real estate activity for the month of February. We’ve highlighted the most important stat that you should be concerned of, whether you’re on the selling or buying side.

STATS: Where Edmonton Home Sellers Stand This Q1 2015

It shows that Number of Residential Sales for the month of February 2015 have increased by 39.79% on a month-on-month basis. This figure should give you a hint that home buying is picking up and if you’re on the selling side, its best that you have your home listed now on the MLS. If you’re on the buying side, check out our new and improved Edmonton MLS listings to access all the newly listed homes on the market.

Year-on-year it might be down -17.02%, but of course, there was no oil crisis at that time.

Read the full article related to this chart here: REPORT: Edmonton Spring Sales Pick Up. Home Prices Remain Strong

So, where does Edmonton home sellers stand in this first quarter of 2015? Judging from the statistics from this 2 reliable sources and from Team Leading Edge own experience on the ground, there is reason to believe that home sellers are standing on the good side of things, unlike their counterparts on the other provinces. The market might have slowed, but it’s not going down. Sales are picking up, so you better get that home listed now. Call us at 780-634-8151 so we can get you started.

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