The REALTORS® Association of Edmonton released their monthly report today calling the market stable.
“While prices remained stable through February the increase in sales activity indicates that there is a demand for housing in the Edmonton area,” said Larry Westergard, president of the REALTORS® Association of Edmonton. “Listings also increased in February leading to a bigger month end inventory of homes and relaxing concerns that inventory may be too low to handle the spring buying season.”
Personally I was expecting sales to be higher (that's two months in a row now for those who are counting) and it seems as though sales in the city might be outperforming the surrounding areas.
The average residential sale price was up to $316,765 in February compared to $314,783 January, and $308,970 one year ago:
Inventory is still much lower than the last two years, but above average overall:
The number of new listings is increasing at a higher rate than we usually see and could easily reach last year's levels within a month or two:
Sorry we haven't participated in the discussion for the past week or so, we were on vacation and just didn't have time to join in on the very interesting discussion. Thanks to all of those who've shared their opinions and contributed to this blog!
