Market Update // March 2017

Hello and Happy Spring! It’s Melody Wilson with the reLIFE Team at REMAX Elite – the March market stats are in. The spring market is busy and we’re out there hustling! Inventory levels in edmonton dropped from 5.40 months of inventory (Market Status (13 month history image) to 4.62 months of inventory.

 As you can see the needle is moving closer to a balanced market, last year at this time the inventory was slightly higher. Which means we’ve had more sales this year which is great. The market is definitely not following suit from last year. Optimism is high, fear is starting to subside and consumer confidence is up. You can see this with our higher end sales as you’ve been hearing about on the media. We’ve had 33 sales over 1  million dollars year to date (nmber of homes sold by price range – image) and we’ve had 3370 sales so far year to date.

This last month we’ve had 3080 new listings come on to the market, a 27% increase from last month but similar to last year’s new listings (new listings image)

Your odds of selling (odds of selling image) has increase almost 17% from last month which is great news for sellers! We help our clients be in the 21% of properties sold out of the ones listed with our proprtiary marketing plan. The number of actual sales last month was 1474 out of the 6806 on the market and if you compare to last year we’ve also jumped 10.97%. March was a strong month the single family home price went up to $439,139 (single family home image), Apartments (apartments condo average sold price) up to an average o $242, 632 and townhouse average price (348.806).

Our average days on market went from 65 to 57 which is great, properties are moving a bit quicker and for April we are already seeing that when we are setting appointments to view properties with our buyers a lot of the properties are already pending and sometimes pending with a few back up offers.

So whether you are looking to buy or sell the time is here, the market is starting to climb up so it’s not too late to get a good deal but its also a good time to capture the market with a lot of buyers out for sellers to have your home showcased. We love showcasing our properties for top dollar, call me at 780-945-7821 and we’d be happy to talk to you about the market and how our team can help you!

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