According to the latest numbers, it’s still a good time to buy or sell as we enter the fourth quarter in our market.
Here are the latest numbers from our Greater Edmonton area market and what they mean for buyers and sellers.
Last August, 52% of all single-family homes sold, which was on par with the previous month and down 3% compared to August 2017. The average sale price for single-family homes was $441,000.
As with single-family houses, we saw 52% of duplex and row houses sell last month, which was a 5% increase compared to the month before and a 2% decrease compared to August 2017. The average sale price for these homes was $359,000.
In the condo market, we saw 40% of all units sell, which was a 4% decrease compared to the previous month but a 2% increase compared to August 2017. The average sale price for condos was $243,000.
For buyers, this means everything’s looking good as we enter the fourth quarter and it’s still a good time to buy and get into a home before the holiday season. There are a lot of great homes available, so don’t feel pressured into buying just anything. The right product is out there for you.
For sellers, this means that the market is set up for strong fall sales numbers. The chances of your home selling right now are about the same as they were during the summer, which is better than most years’ fall markets. As always, pricing your home right makes all the difference. Pricing it correctly right when it’s listed will bring you a quick sale before the holiday season.
As always, if you have any other questions about our market or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d be happy to help you.