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Market Updates

The spring market has SPRUNG! March Market Update

It’s officially Spring!!

Hi there!

The weather is warming up (and so is our market)!

It’s been awards season and although I got a couple special awards (being top 5 in our office and reaching Chairman’s Club with Remax last year) the biggest thing is that I get to help some of the best people out there everyday.

THANK YOU for all your support and referrals over the years. They mean so much to us ūüôā

My monthly SHOUT OUTS / THANKFUL THOUGHTS

  • The 1′ thick layer of ice on our driveway is starting to melt!
  • Jennifer on selling your family home (with 12 offers)!
  • Maria on selling your place here in St. Albert (multiple offers)
  • Rhonda and Moses, great work on getting your home sold!! (now just to find you another one ūüėČ
  • Nick and Sarah, congrats on your new house!
  • Erin and Chantel, you bought a great home and sold yours (pretty quick)! Yay!!
  • Peter, nice work on landing your new build!
  • Megan and Jackson, congrats on your first place together!
  • Lauren and Micah, congrats on getting your first home too…now for the next part of your story together ūüôā
A bunch of new listings popping up

How’s the market?

Spring is spring-y

This has been a VERY busy start to the year. Spring has been “spring-y” and our inventory is in short supply. This means we are seeing homes, as long as they are priced well, come to market and sell within a few days.

Buyers need to be prepared (get pre-approved!) and need to be ready for multiple offers.

Sellers need to be prepared for multiple showings and to have your home in “show-home” condition to gather as much interest as possible.

It’s a busy market, but there are ALWAYS opportunities, you just need to find them (and I can help)!

Now, for the stats…

Last month’s prices for Edmonton and Area:
–¬†Single Family¬†(SF) prices are¬†UP 12.7%¬†year over year, and¬†up¬†¬†10.8%¬†month over month to¬†$493,000
–¬†Condo¬†prices are¬†DOWN 1.8% year over year, and¬†UP 0.9%¬†month over month to¬†$227,000¬†

Inventory levels: SELLER’S MARKET¬†
Total Inventory sits at 4,786 properties for sale, down 19% from last year, and up 1% from January
Total Sales for last month were 2,258 up 41% from last year, and UP 69% month over month (!!)
Days on Market for single family homes sits at 42, down from 51 last month and 47 last year

Months of Inventory are now at 2.1 months of inventory
(down from 3.5 last month)

We are STILL sitting in a¬†Seller’s¬†Market
(anything under 4 months is a seller’s market)
Book a Call
Your Market Update
Your friend,
Kevin Machado
780-935-5762
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