Finally! We’re starting to see that snow melt! It’s been a long winter but we’re ready for spring. As of the end of February, we’re seeing some strong unit sales and average price increases in the Edmonton real estate market.
As of the end of February, year over year average unit prices increased across all categories. The average price of a single family home was $442,206, which was an increase of 3.73% compared to February 2017. The average price of a condo was $236,808, an increase 1.48% year over year.
“February turned out to be a busy month for REALTORS®, which was reflected in the increases in sales activity and average prices across all categories of residential properties,” said Darcy Torhjelm, Chair of the REALTORS® Association of Edmonton.
Inventory increased 10.90% compared to January 2018 and was up 8.67% compared to February 2017. Listings also increased, up 4.03% month over month and 5.92% year over year.
Overall the average days on market for all residential properties was 65, which was identical to February 2017.
Our team at Royal LePage Noralta is ready to work with you. We are Canada’s Real Estate company. We have 5 offices located in Spruce Grove, West Edmonton, South Edmonton, Sherwood Park, and Fort Saskatchewan.
Call us today and get in on the Spring real estate market.