Weekly Market Minute: 11 May 2016

(May 11, 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 today minus 90-days.

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: 8,335
Average List Price: $430,752

SOLD Listings: 355
Average Sale Price: $387,170
Average DOM: 51 days

Absorption Rate: 5.6 months

EDMONTON

ACTIVE Listings: 5,805
Average List Price: $438,304

SOLD Listings: 245
Average Sale Price: $384,758
Average DOM: 49 days

Absorption Rate: 5.5 months

ST. ALBERT

ACTIVE Listings: 445
Average List Price: $517,816

SOLD Listings: 24
Average Sale Price: $415,914
Average DOM: 56 days

Absorption Rate: 4.7 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