Edmonton Real Estate Stats You Need Now!

17May08

Wonder what’s going on with the Edmonton real estate market? A lot, actually. Edmonton is experiencing a surge in the number of people buying and selling property. Over the last few years, property listings and sales have increased significantly, leaving Edmonton with a booming, yet balanced, real estate market. Interestingly, some of the major contributors to this market surge are the ones you may not at first suspect –the female entrepreneurs make up a HUGE sector of the real estate industry. Here’s what’s happening with the other buyers in your area:

· Sales in Edmonton were down a bit in the spring of 2008, but were still higher than typical, previous years.

· Real estate values in the area are generally increasing month to month.

· Sellers are typically getting 97 percent of their asking prices.

· Residential listings were up 12 percent in May 2008 as compared to the previous month.

Consider the following stats…

Single family dwellings sold on average* for $386,033 in April just 0.4% down from the previous month. SFD prices are still 6.6% lower than April 2007. Condos sold on average for $256,947, a decrease of 2.3% from last month. On the other hand, duplexes and rowhouses sold during April were priced 2.3% higher at $316,065 on average. Overall, the average price for all types of residential property was down 2% at $336,931 when compared to March and down just 2.1% from a year ago.

There are 10,606 residential properties currently available on the MLS® (up 12% from last month’s record inventory). The average days on market was just 52 days; up one from March. There were 4,471 residential listings during the month and the sales to listing ratio is a low 41%. Total residential sales were $1.99 billion and total MLS® sales were $2.3 billion.

For the women working in this industry, statistics like these are vital bits of information that factor heavily into their investment decisions. Understanding current market fluctuations and conditions is key to making wise choices that will give you the biggest return on your investment.

Filed under: Edmonton Real Estate Market   |  2 Comments
Tags: Edmonton properties, Edmonton real estate, Edmonton Realtor, Edmonton REMAX, female entrepreneurs, investing, Kerri-lyn Holland, REMAX River City