Like January, February showed strong signs that 2014 should be a busy year for the Edmonton Area Real Estate market. In all residential areas we have seen a increase in average selling prices compared to January, average days on market has decreased, and the total number of listing and sales on the MLS service have increased significantly.
Here is a look at the numbers;
February 2014 (Edmonton Area) Monthly/Yearly Change
Single Family Average Selling Price $425,782 +2.7%/+6.3%
Condominium Average Selling Price $238,854 +1.6%/+3.2%
Duplex/Rowhouse Average Selling Price $335,625
Residential Listings this Month 1955 +7.3%/+0.3%
Average Days on Market 54 /-5.2%
Residential Inventory at Month End 3906 +10.4%/-6.6%
Total MLS Reported Residential Sales 1122 +24.4%/+5.6%
Single Family Average Selling Price $444,282
Condomininium Average Selling Price $333,104
With all the positive signs in this mouths stats, low interest rates, and new job creation in Alberta one can assume it is almost a sure thing to be a very busy year with likely some fairly significant price increases.
Stats obtained from www.ereb.com