Warm weather in early February caused the start of an early spring market!
“It’s expected that the spring market will be busy this year, but when you see detached single family homes are already selling 60.5% more units than last year, it makes you sit up and take notice,” says REALTORS® Association of Edmonton 2023 Board Chair Melanie Boles. “If the month-to month change in sales continues at this pace, then it will be a hot market indeed.”
Here the numbers for the City of Edmonton only for February 2024.
All residential sales average prices are up 9.3% Year over Year and 0.1% Month over Month. The market is in a Sellers position with 2.3 months of inventory
Detached homes prices are up 10% Y/Y and 4.5% M/M. This product is also in a Sellers position of 2.1 months of inventory.
Semi detached homes prices are up 7.9% Y/Y and up 1.1% M/M. They have 1.7 months of inventory, a sellers market.
Row/Townhouse prices are up 8.5% Y/Y and up 0.6% M/M with only 1.2 months of inventory, favoring sellers.
Apartments are down 6.2% Y/Y and 8.5% M/M. However low inventory is making this product line very popular with investors. They are in a sellers market position of 3.1 months of inventory.
This is the perfect time to sell a house/townhouse/half duplex and downsize to an apartment.
Whatever your next transition is, call me for up to date stats and professional representation.
All about you. Really.
