Home prices in Edmonton are continuing to be strong with minor decreases from June, but small gains from July of 2014.
There were 1,111 single family houses sold in July which is down 4.2% when compared to July of 2014. It took on average 48 days to sell a house and the average price was $436,948 which is down 1.8% compared to last month, but up 2.4% from July of 2014.
For Condos, there were 534 sales which is a sharp decline of 20% compared to July of 2014.The days on market was an average of 54 days with an average price of $256,708 which is up slightly by .4% from last month, and up .8% from last July.
Geneva Tetreault, Chair of the REALTORS® Association of Edmonton explains why we have seen some decreases in prices:
“This small dip in prices is expected due to our higher inventory and lower sales numbers. We continue to be surprised by how strong prices have been this year compared to last when we had higher sales and very tight inventory. The ‘wait and see’ attitude of buyers seems to be diminishing, but people continue to be cautious,”
Here is our infographic
We’d love to hear from you, send us your questions or comments.