June Sees Cooling Down Of Real Estate Market!
“We continue to see a gradual decrease across the board in the Edmonton real estate market,” says REALTORS® Association of Edmonton Chair Paul Gravelle. “As interest rates and inflation continue to rise, we anticipate that we will see further impacts on the housing market in the days to come.”
For the City of Edmonton specifically, average prices have marginal change, with all residential sales by going up 1% year over year but down 1.1% month over month. We are still in a Seller’s market with 3.5 months of inventory.
Single family dwelling average price has gone up 2.6% year over year and .9% month over month. It too is in a Seller’s market position of 3.0 months of inventory.
Condominiums have gone down 2.5% year over year and down .8% month over month with a balance market position favoring neither buyer or seller at 4.7 months of inventory.
Duplex Rowhouses have gone up 8.6% year over year and down 5.2% month over month with a Seller’s market of 2.5 months of inventory.
Just to remind you as well, all real estate is local. Some areas are hot, some neighborhoods or complexes are not. To ensure you get the best representation for your sale or purchase, make sure you work with a professional.
I’m always available to help with any questions you my have. Call or text or email 780-893-9987 or melody@melodykilbank.com.
All about you. Really.
