October’s Strong Market Attributed To Low Mortgage Rates
October was a solid month of real estate activity for the City of Edmonton. Record low mortgage rates are causing buyers to act now!
Our numbers look like this:
All residential sales average prices were up 6.4% year over year and .7% month over month, with a balanced market position of 4.5 months of inventory.
Single Family average was up 3.9% Y/Y and a nominal .5% M/M. Houses are sitting in a seller’s market position of 3.2 months of inventory.
Condos suffered a downturn and lost some of what was gained last month. Average prices are down 1.2% Y/Y and down 2.7% M/M with a buyers market position of 7.9 months of inventory.
Duplex/Rowhouses had a very nominal increase of .1% Y/Y and another nominal decrease of .6% M/M. They are also sitting in a seller’s position with 3.9 months of inventory.
Remember, though, real estate is LOCAL and your product and neighborhood values are unique. So call me for your market valuation or help with a purchase.
Because it is all about you. Really.
