The Edmonton Real Estate Market is picking up as we head into spring. In February, we had 1,825 homes sold across the greater Edmonton area. This is a 14.3% increase from January, but still a 7.1% decline from last year.
New Listings also rose 13.2% from last month alone, helping to slightly increase inventory, though overall supply remains lower than what it was last year.
Here’s a quick breakdown:
Detached Homes – 1,015 Sales
Semi-Detached Homes – 215 Sales
Rowhomes/Townhomes – Sales are up 23.4%
Average Home Price – $449,554
Detached Homes Avg. Price – $567,913
Condos Avg. Price – $217,373
With the bank of Canada, lowering the interest rates, buyers are getting into the market and gaining more purchasing power and sellers seeing higher returns.