Real Estate Update by ARET
Read the Full Market Analysis If you’d like to find out more about your home and neighbourhood, give us a call. “A drop in month-over-month units sold in August is historically normal activity for the Edmonton region,” says Mabey. “But average sales prices were higher this August than in any August over the last five years. This may be a positive sign for the economy overall and for forward price growth in the housing market.” On average, single family detached homes sold in 51 days, condominiums: 68 days, and duplexes/rowhouses: 64 days. ~ Source REALTORS® Association of Edmonton Inventory and Average Sales Price Hold Month Over Month Edmonton, Sept 5, 2017 : Average prices for residential properties in the Edmonton Census Metropolitan Area (CMA) in August 2017 were up 0.78% relative to August 2016. The number of all residential units reported sold was 1,542, down 2.03% over last August. 930 single family detached units and 398 condominium sales were reported. 184 duplexes and rowhouses sold in August 2017. The average sale price for single family homes was $438,325 for August 2017, a year- over-year increase of 0.83%. Average prices for condominiums in August 2017 was $245,184, a year-over-year decrease of 3.76%. The average price for duplexes and rowhouses was $355,134, a 3.98% increase from August 2016.
*SFD = Single Family Dwelling *DOM = Days on Market Source: REALTORS ® Association of Edmonton Market values stated are of the average of Edmonton and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to- date evaluation of your home. Average Price SFD* $438,325 UP 0.83% (YOY) Average Price Condo $245,184 DOWN 3.76% (YOY) Average DOM 57 Sales to Listing Ratio 52%
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