Edmonton Housing Prices Steady, but Sales Dip During Downturn

  • edmonton-home-sales-aaron-acceptanceThe news reports there is a downturn in Alberta’s economy; however, Edmonton’s residential housing prices have remained virtually unchanged. For the first quarter of 2016, the realtor’s association is reporting the following:

    ⦁    Residential Unit Sales Down 6%
    ⦁    Condo Unit Sales Down 12%
    ⦁    Eight-day increase in time a residence spends on the market

    Despite the decline in unit sales, the median price has remained stable; however, the numbers were bolstered slightly by the sale of two $3-million homes says Steve Sedgwick, chair of the Realtors association of Edmonton. Condo sales have been the hardest hit this past quarter with a 12% decrease in unit sales, despite a 16% increase in the number of condos for sale.  Overall, the quarter has seen a drop in residential units sold but, the trend is turning upwards with 1,300 homes being sold in March – almost 63% more then the previous month. If you wish to read more of CBC’s article please click HERE.

    If you wish to access the equity you have built in your home, please give us a call at Aaron Acceptance…you can bank on us.

    Article from CBC NEWS by Mark Blinch/Reuters

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