Super cute house backing a park in Sturgeon Heights in St. Albert under $400k!!
2023 Market Update
Still Moving Up…
We are nearing levels we saw last year. Our average single family home price is back up over $500k (first time since last year’s highs). The market was moving fast and I’m curious to see if we still get this escalation in the coming months.
I THINK (and yes it does hurt to think 😉 that we will continue to see values trend up but not at as quickly as we have been seeing. We are in the heart of our real estate market (spring summer are our peaks) so we’ll see how things play out.
Now, for the stats…
Last month’s prices for St. Albert, Edmonton, and Area:
– Single Family prices are DOWN 4.6% year over year (remember last year hit historical highs), and UP 3.1% month over month to $501,000 ($485,000 last month) –Semi-Detached are DOWN 3% year over year, and UP 3.4% month over month to $379,000
– Townhomes are DOWN 3.7% year over year, and UP 5.5% month over month to $261,000 – Apartment condos are DOWN 5.8% year over year, and EVEN % month over month to $192,500
Inventory levels: BACK to a SELLERS’ MARKET Total Inventory sits at 6,923 properties for sale, UP 7% from last year, and UP 9% from the previous month Total Sales for last month were 2,028 , DOWN 30% from last year, and UP 11% from the previous month Days on Market for single family homes sits at 42, UP from the same time last year at 25 and DOWN from 46 last month
Months of Inventory are at 3.41 MONTHS OF INVENTORY
Down from 3.45 last month
We are sitting in a SELLERS’ Market (0-4 months is Seller’s; 4-6 months is Balanced; 6+ is Buyer’s)