Weekly Market Minute: 27 April 2016

(April 27, 2016 )

Here is your Weekly Market Minute for Edmonton & St. Albert.

As always, we are looking back over the last 7-days excluding today and I’ve calculated 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: 8,192
Average List Price: $428,332

SOLD Listings: 361
Average Sale Price: $387,678
Median Sale Price: $367,900
Average DOM: 53 days

Absorption Rate: 6.8 months

EDMONTON

ACTIVE Listings: 5,689
Average List Price: $433,349

SOLD Listings: 254
Average Sale Price: $380,727
Median Sale Price: $352,000
Average DOM: 53 days

Absorption Rate: 6.5 months

ST. ALBERT

ACTIVE Listings: 444
Average List Price: $522,166

SOLD Listings: 26
Average Sale Price: $439,196
Median Sale Price: $402,500
Average DOM: 41 days

Absorption Rate: 6.4 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