Prime Edmonton Real Estate - The Realtors Association of Edmonton (RAE) recently released the Edmonton real estate sales report for March 2015 - and the 'doom and gloom' forecast for housing predicted by many has not taken hold yet. However, there are more indicators that a market correction may be in the near future. In the month of March over $540 million in Edmonton and area real estate was sold - which is down 12% overall from March of 2014. However, average sale prices are higher than both March of last year as well as compared to last month.
The average Edmonton home sale rose in March after being stable in February. Single family homes were sold on average for just over $438880. This is an increase of over 1% over March of last year and up 2% from February. That means the average home increased in price $4500 in the last 12 months.
Here are some more March sales facts:
- For those of you interested in Edmonton luxury real estate, there were 8 sales of more than $1 million, and 1 sale of a property over $1.5 million. For those of you who are looking at getting a bargain, there were 58 properties sold for under $150000. The greatest number of home sales in March occurred in the $350000-$374999 range - there were 123 sales in that particular range.
- The average single family home price in Edmonton was $438880, an increase of 1% from last year. The average Edmonton condo for sale sold for $249841, which is a 5% increase from last March. The average duplex/rowhouse in Edmonton sold for $373005 in March, an increase in price of almost 4%. The total number of residential properties sold in Edmonton was 1453, down 12% from last March.
- So far in 2015, there have been over 3200 residential home sales worth more than $1.1 billion in the Edmonton area. This is almost 14% less in sales than at this time last year
- There were 3152 new residential listings in Edmonton in March, a 24% increase from last year at this time.
Please remember that these statistics are a general guideline; you should talk to me as a real estate professional and Realtor to see how it affects you as a home buyer or home seller. These sales statistics include all Edmonton MLS listings but do not include properties that were sold by owner. I am able to supply your with sales stats as broad as the entire Edmonton area to as specific to up and down your street or in your particular building. Please contact Jerad Cox from Sterling Real Estate today if you have any questions about this Edmonton real estate sales report in general or about your particular situation. - I'd be glad to help!