Welcome back to the Market Update with Mani & Azra Bagga. We take a look at the Market Statistics for April. Things look to be on the Raise. Inventory is high and houses are selling quicker than Last year.
Watch the fill video at: https://youtu.be/xVL_o2AKExw
Upward Movement for April Real Estate Numbers
Edmonton, May 2, 2019
When compared to March 2019, unit sales across most categories increased, with single family home unit sales increasing 43.68%, condo sales increasing 38.31% and duplex/rowhouse sales increasing 34.06%. Year over year sales are up in all major categories, with single family homes sales increasing 1.91%, condo sales increasing 2.77% and duplex/rowhouse sales increasing 3.93%. Year to date sales for all residential categories were down 8.44.% compared to April 2018.
Average unit prices rose from last month but are still down from April 2018. The average price of a single-family home was $427,657; an increase of 0.96% compared to March 2019 but down 0.82% compared to April 2018. The average price of a condo was $228,933, an increase of 7.05% from March 2019 but a decrease of 7.93% year over year.
Prices for duplex/townhouses saw a decrease from March 2019, with the average price down 1.09% to $330,795, but a 1.87% increase relative to April 2018.
“Spring tends to see more activity in the market with this year being no exception,” says REALTORS® Association of Edmonton Chair Michael Brodrick.
Inventory rose 8.78% higher compared to March 2019 but was down 1.78% over April 2018. Listings were also up, climbing 11.14% month over month but down 1.92% year over year.
Days on market decreased for most home types compared to March 2019. Single family homes spent an average 55 days on market, condos averaged 71 days, and duplex/rowhouses averaged 67 days.
Overall, the average days on market for all residential properties was 60, which was six days shorter than March 2019 but three days longer over April 2018.
Article courtesy of the EREB, view the article here: https://realtorsofedmonton.com/…/…/Monthly_Market_Stats.aspx
Behind the Camera: Brandon Mattice