Checking In & Market Stats March 2020
The COVID-19 outbreak has created a new reality for all of us, at least temporarily. Chances are you’re dealing with many new challenges, both personally and professionally. Remember, we’re all in this together. If there is anything I would be able to do for you, please give me a call. You might have immediate concerns about the real estate market. You might be wondering if you should put off moving. Or, you need to move but are worried about all this uncertainty.
Here are the latest City of Edmonton (ONLY) market information. All Residential average price is down 4.6% year over year and down 4.2% month over month. There is a 6.4 month buyer position. Single Family is up 5% Y/Y and down 7.5% M/M with 5.3 months of inventory, a balanced market position. Condos are down 4.3% Y/Y and .5% M/M and has 8.3 months of inventory, a buyers position. Duplex/Rowhouses are down 3.7% Y/Y and up .3% with 6.7 months of inventory, a buyers market. It is anticipated that for the month of April numbers will decline further, as these stats could reflect the transactions of people who having sold their home, needed to purchase in order to have a place to live. Time will tell.
Good information and advice are often the antidote to stress, especially during challenging times. So, please, don’t hesitate to reach out to me at melody@melodykilbank.com or call/text 780-893-9987. Virtual appointments are available.
Take care and know that I’m thinking of you and wish you well.
