Edmonton Real Estate Market Insight – July 2015
A Recap of What Happened During the Month of June 2015:
A first for 2015, the REALTORS® Association of Edmonton has recorded an increase in year over year sales for the month. Over 2008 sales occurred for residential real estate, up 2.4%, compared to June 2014. The number broke down as follows:
- 1243 Single Family Homes (2.1% increase from 2014)
- 572 Condos (1.6% increase from 2014)
- 156 Duplexes/Row Houses (11.4% increase from 2014)
Compared to last month (May 2015), sales were also up by 13%. The average days on market for June was 49 days, resulting in an average increase of 3 days more to sell.
“The reality of what we are seeing in the market is that the slight hesitation from buyers that came with the drop in oil prices is lessening. Edmonton has not been hit nearly as bad as what many predicted and buyers are becoming more confident that our market won’t plummet. This renewed confidence coupled with low mortgage rates and a healthy selection means that people are realizing that this is still a good time to buy.” [EREB] continues, “People move when their lifestyle warrants a change. This will always be true. There are always buyers and sellers, no matter what the market looks like or what analysts predict. REALTORS® are here to help you decide what move is best for you.”
Choosing to buy or sell is really about making the right lifestyle decisions for yourself. Remember, Elisse Moreno and the HomeTribe.ca team are here for you when you are ready to buy or sell.
