Current market update
Our Edmonton market has generally held strong amidst the low oil prices and struggling Alberta economy. However, we are starting to see the effects on the market and as we get into the summer months expect to see the volume of sales to continue to decrease. Although historically we have seen moderate growth in sale prices year over year, the last 2 years have reported a small dip in house prices.
The Alberta Real Estate Association have released the latest stats for June. Here is a quick summary for Alberta as a whole:
- total of 6059 units solds, this is down 9.2% from the month of June/2015
- the average mls sale price is also down 1.4% from last june, averaging $397,269
The good news is that the Edmonton Region saw one of the smallest year-over-year changes of only -0.6%. Calgary and Lethbridge regions saw the only positive changes (of .2% and 2% respectively) in Alberta, while the South Central Alberta and Fort Mcmurray regions saw the greatest decreases; between -19.8% and 32.3% respectively.
