“This is good news for sellers who have been concerned about selling in a ‘buyer’s market’,” REALTORS® Association of Edmonton Chair Steve Sedgwick said. “Buyers continue to have a great selection of properties to choose from and sellers need to be competitive with their listings. Continued lack of significant movement in the average house price is a good signal that Edmonton’s economy is strong.”
For individual property types prices also remained strong with single-family detached homes selling for an average of $439,982, up slightly from March while condos dipped less than 1 per cent on a lower sales volume.
“New listings were slightly down in April, but inventory remains high.” Sedgwick continues, “We expect to see sales continue to rise through the early summer months. It will be interesting to see whether there are many new listings adding to the existing inventory in upcoming months.”
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Fabreville, Elderbank, Nixon, Rivière-Ouelle, Cereal
There was an 18 per cent rise in the number of homes listed in Edmonton in April but prices held steady at $377,283, a drop of just 1 per cent compared to the previous month and 1 per cent higher than a year earlier.