February Average Prices Warmed Up!
Well, February had record breaking cold temperatures, but the City of Edmonton`s real estate average prices warmed up!
The good news for February is month over month the average sale prices rose. For all residential sales it went up by 7.3%. Single Family Dwellings were up 7.8% and Condos were up 3.2%. Duplex and rowhouses remained almost the same softening by .3%.
Now the not so good news…year over year prices fell in each category. All residential is down 5%, single family 3.5%, condos 7%. Duplex and rowhouses are down 9.6% year over year.
More good news is inventory levels for all categories are also down. This means more product is being purchased. Houses and duplex/rowhouses are hovering on the brink of being in a balanced market to buyers market, but condos are still favoring buyers.
If you are in the market to buy, act now. Don’t wait for March prices to climb. Spring will be here soon. We are still in a very affordable market.
Also I have an exciting announcement for all potential buyers. A special incentive being offered by my brokerage. Watch your inbox for further information next week!
Call me for professional representation!
