Weekly Market Minute: 4 May 2016

(May 04, 2016)

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

As always, we are looking back over the last 7-days and the absorption rates are calculated based on sales activity from February 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: 8,086
Average List Price: $428,534

SOLD Listings: 369
Average Sale Price: $368,300
Median Sale Price: $360,000
Average DOM: 51 days

Absorption Rate: 5.8 months

EDMONTON

ACTIVE Listings: 5,599
Average List Price: $433,569

SOLD Listings: 259
Average Sale Price: $362,558
Median Sale Price: $357,500
Average DOM: 52 days

Absorption Rate: 5.5 months

ST. ALBERT

ACTIVE Listings: 437
Average List Price: $524,481

SOLD Listings: 24
Average Sale Price: $443,841
Median Sale Price: $422,500
Average DOM: 54 days

Absorption Rate: 5.1 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