Weekly Market Minute: 30 March 2016

(March 30, 2016 )

Here are your weekly market stats going back 7-days from today… As always, we are looking back over the last 7-days excluding today and I include the absorption rates based on sales data beginning January 1 of this year.

Remember, the absorption rate reflects the length of time it would take to sell all of the current inventory on the market if no new listings were posted and the current market conditions remained the same. An absorption rate of between 5 and 7 months is generally considered to be reflective of a balanced market; in other words neither buyer nor seller is favoured.



CMA EDMONTON

ACTIVE Listings: 7,792
Average List Price: $438,815

SOLD Listings: 251
Average Sale Price: $410,202
Median Sale Price: $366,500
Average DOM: 52 days

Absorption Rate: 7.61 months

EDMONTON

ACTIVE Listings: 5,462
Average List Price: $440,604

SOLD Listings: 176
Average Sale Price: $415,434
Median Sale Price: $360,000
Average DOM: 48 days

Absorption Rate: 7.31 months

ST. ALBERT

ACTIVE Listings: 420
Average List Price: $531,348

SOLD Listings: 20
Average Sale Price: $450,600
Median Sale Price: $429,950
Average DOM: 61 days

Absorption Rate: 7.84 months

I welcome you to reach out to me if you have any questions about anything I’ve presented or would like to discuss the market in further detail.

Depending on your circumstances there’s rarely a bad time to buy or sell real estate so if you’re thinking about making a move I encourage you to contact your favourite REALTOR® without delay and of course if you don’t have a favourite REALTOR® I’d love the opportunity!

///…CP