The Spring Real Estate Market in the Greater Edmonton Area
- Black Label Property Group
- April 8, 2023
The Numbers
Every month, the REALTORS® Association of Edmonton shares the latest statistics for the real estate market in the Greater Edmonton Area* and in turn, we share some of these numbers with all of you – but with a little more commentary. Check out the Edmonton Real Estate Statistics Overview on the Black Label Property Group Blog (or head over to RealtorsofEdmonton.com for the full set of statistics published each month).
We recognize that the numbers can be be both less exciting and complicated to those outside of our industry, but we happen to love diving into them to share what going on in this Spring Market.
The Overview
Acreages are in sky high demand consistently blowing assessed values out of the water. If you own an acreage, now is an excellent time to jump in the market.
With the grass starting to green up and homes beginning to look their best, even if your not selling at the moment consider having all your exterior photos done. Best to have summer shots and not need them then to need them and not have them.
And finally, be prepare to fight for any detached single family between $350,000 – $450,000 if it is priced right.
As a Buyer
We always recommend you get your pre-approval in place before starting to look. Additionally, if you need to sell, get your home on the market. Subject to Sale offers won’t fly in this competitive market.As A seller
The market is swinging back towards you.
This starts in the lower price points and works its way up in pricing tiers.
As an Investor
Date the mortgage rate, marry the house. As soon as rates start falling near the end of this year, anticipate resale prices to jump up big. Savvy buyers are scooping up (relatively) discounted homes on short term fixed rates and plan on refinancing when rates fall again.
The Most Recent Real Estate Statistics
We post an overview each month on our website covering the average sale price, average days on market, total listings and sales, and highest sales—this includes our thoughts on what these numbers mean for our real estate market.
