Conservative Market Appreciation For June 2021
The City of Edmonton’s market stats are out and June shows some conservative promise for market appreciation.
The year over year average price increase are still reflective of the early reaction to COVID 19. All products categories were up as follows: all residential 9.4%; single family 9.3%; condo 9.1% and duplex rowhouses 7.2%
The month over month average prices were down for all residential by 1.2% but still favoring a seller’s market with 3.2 months of inventory. For single family average price is up 2.9% with 2.3 months of inventory favoring sellers. Condos increased by 2.9% also but are sitting in a balance market position. Duplex/rowhouses are down by 2.3% but are favoring sellers as well, with 2 months of inventory.
So all the buzz of multiple offers and a frantic market has ultimately produced a conservative appreciation in each category. So the volatility of the market has calmed down and it is still a great time to buy or sell.
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