Edmonton Real Estate Prices Up 2% From Last Year
2013-05-08 | 12:31:39
Edmonton Real Estate Market Snapshot, April 2013
There were 1645 residential sales in the Greater Edmonton area in April. This is about equal to last April when 1656 homes sold, and up from 1501 in March.
The average price is up 2% from last April to $348,535 (compared to $342k last April and $355k last month). It is not uncommon to see the average price drop from May to April - it happened in 4 out of the past 7 years.
The inventory continues to rise, as it should at this time of year, but it is still well below the levels seen in previous years. The current inventory is 5,294 down from 6,040 last year and up from 4,741 last month.
After three months of below average listing activity we started to get into the more normal range in April. 2,769 homes were listing for sale in April - about the same as last year (2,756) and up from 2,422 in March.
Overall we are seeing the same market forces at play that we saw last month; relatively low supply and good demand are keeping prices at higher levels than we've seen for the past five years. We are seeing some areas where homes are selling above their peak value (from 2007) and some areas where the current value of homes is still well below their peak value