I often get asked, “what is the market like?” and although I invariably add my own spin on it based on what I’m experiencing at the moment from a “in the trenches” perspective I thought I’d relay what my higher ups have to say about it, specifically the Alberta Real Estate Association (AREA).
There have been 3,170 homes sold on the MLS® in Alberta by February’s end, which is down 8.0 % compared to last year February.
With an increase to the average price $388,037 of only .6% from the same time period last year.
Now as for Edmonton and area, the average price went down
The monthly residential average price decreased only .4 % compared to last February but the year to date figure was down 3.9%.
Hope that helps answer that question for you. Keep in mind Edmonton’s numbers will be slightly different as will your specific area that you are either selling in or buying in.
Let me know if you’d like more specific details.