Low Inventory Continues To Drive A Seller’s Market!
Saturday, December 9th, 2023“In real estate, the rhythm of the market often shifts with the seasons. As we transition into the colder months, it’s not uncommon to witness a predictable decrease in available listings. Yet, what’s remarkable about Edmonton’s current housing landscape is the continual demand despite this seasonal ebb,” says REALTORS® Association of Edmonton 2023 Board Chair Melanie Boles. “Buyers continue their search for their dream home, eager to secure properties even amidst a tighter inventory.”
Here is what happened in Edmonton in November.
All residential sales average price was down 1.4% year over year and down 4.6% month over month. Low inventory continues to drive a seller’s market in every category.
Detached homes’ average price was down 1.5% y/y and down 1.9% m/m.
Semi detached were down a marginal .5% y/y and down 9.8% m/m
Row/townhouses were up 14.2% y/y and up 4.7% m/m.
Apartments were down 11.6% y/y and down 16.5% m/m.
Edmonton still continues to draw buyer interest as one of the more affordable cities to live. As well, out of province buyers are looking to invest. It still is a good time to buy/sell. If you need any professional advice. Please reach out.
Wishing you a very merry Christmas and a prosperous 2024!
All about you. Really.
