Market Update // April 2017

Hi everyone it’s Melody Wilson with the reLIFE Team at REMAX Elite and I am happy to report some great market stats for Edmonton this past month. Spring is always a good time to buy and sell and even with the snowier than usual April we still had a really great month. All average prices across the board have moved up which is great news, this hasn’t happened for awhile and a good sign for a great start to the spring market.  The Market Status has moved to 5.15, slightly higher than last month but I am sure it will readjust itself here in May as we have had a lot of activity just in the first week. In April we had slightly higher inventory levels, we had 3164 new listings over last month . The average days on market went from 57 days in March to 55 in April. Last year it was very similar at 54. Our reLife Team’s average last year was 44 days on market so its just a general benchmark as some properties and some areas sell really fast and the slower properties to move are the ever challenging condo market.  With buyers we’ve seen things become very active and competitive in the single family home market. A lot of houses our buyers want to see are already pending or even sold, however, if you work with a professional realtor we are on top of finding a home for you and ensure that we understand exactly what you’re looking for. In the perspective of the seller it is a really great time to sell, the buyers are out and the market doesn’t have a lot of great homes priced well out there so it allows you to stand out, compelling prices are selling and we do many things on our end to help with that – we’ve seen this past week a few of our newer listings get  a lot more activity. The market is picking up and I suspect May will be one of the strongest months this year in sales – I am guessing May and June this year will be really strong especially compared to last year. Consumer confidence has increased and consumers are getting educated about the mortgage rule changes and understanding and being able to make decisions on purchasing their home.  Sellers who also understand the market and are pricing well and displaying their home to stand out are able to take advantage of this market – we would love to discuss with you further for any of your buying or selling needs to help you take advantage of the market. Call me at 780-945-7821 Thanks for turning in and we will see you next month!

Team Lead, Selling Specialist
reLife Team
RE/MAX Elite

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