I have had a lot of people ask me lately if the market is doing poorly because oil prices have dropped. My short answer: it isn’t. I can see no real slow down in the market so far. People may say that they’re concerned, but their actions suggest that it’s business as usual for home buyers and sellers in Edmonton.
So what is the Edmonton real estate market really like right now?
The average selling price of a house in Edmonton in March, 2015 was $433,400
The average selling price of a condo in Edmonton in March, 2015 was $249,800
Here’s a chart of what the last 13 months has been like for houses:
And here’s a chart of what the last 13 months has been like for condos:
So you can see that the prices have not really dropped in the last few months – condo prices are down slightly from January to March, but house prices have climbed. Slight fluctuations are normal in the house and condo market. There was a spike in house prices in November of 2014 and then a correction in the following December and January. The real estate market in Edmonton fluctuates depending on many factors. In both cases when comparing March 2014 to March 2015 condo prices are up since last year and so are house prices. Whatever you hear out there, be sure to check the numbers and before worrying too much about house and condo prices in Edmonton.
Statistics are gathered from the Edmonton Real Estate Board’s Residential Sales Activity online publication.
by +Alan F Macdonald REALTOR® | Copyright © – gimme-shelter.com
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