It’s about that time in the summer when we wish look at the calendar and think, “Yikes, it’s almost September!”
September means back to normal schedules, back to school, and back to people buying homes.
The summer is typically one of our slower periods in the real estate calendar. With people on vacations and preparing for September, we typically see a drop in sales before things pick up again in the fall.
This year’s market has been an interesting one, to say the least, so I am anticipating the fall to be strong this year as well!
My monthly SHOUT OUTS
The Kings, congratulations on your Lake House!
Dave and Jodie, you’re a duplex lighter in your real estate portfolio 😉
Victoria and Luke, way to go on landing your dream home!!
Andrew and Cindy, we won out in multiple offers and now you have a beautiful home to raise your family in!
Cody! You did it! You sold your place super quick and now you can move to Hawaii …take me with you!! 😉
Megan and Kyle, congrats on landing a great home in St. Albert. Welcome to the neighbourhood!!
AlI of you that have referred me and passed my name along to family, friends, and “rand-o’s” (as Mercy would say)…THANK YOU! 🙏
As you’ll see the market is slowing a bit over the summer, which is to be expected. We typically see a bump back up from September through November (until it gets really cold and people decide to wait until the spring).
There’s opportunities out there right now for buyers, and seller’s need to position themselves strategically to succeed (ie. market right, list at a competitive price, and negotiate wisely all terms – not just the purchase price).
Now, for the stats…
Last month’s prices for Edmonton and Area:
– Single Family (SF) prices are UP 6% year over year, and down slightly -1.3% month over month to $466,000
– Condos prices are UP 6% year over year, and nominally down -0.8% month over month to $240,000
Inventory levels: SELLER’S MARKET Total Inventory sits at 8,015properties for sale, down 0.5% from last year, and essentially the same as last month (0.1% down) Total Sales for last month were 2,208, up 2% from last year, and down 18% month over month Days on Market for single family homes still sits at 33, up from 28 last month and 49 last year
Months of Inventory are now at 3.6 months of inventory (up from 2.9 last month.
We are STILL sitting in a seller’s market (anything under 4 months is a seller’s market)
What does this all mean anyway?
Be smart.
Buyers have opportunities right now that they haven’t had for the majority of this year.
Sellers need to make wise decisions to be prepared for the fall run up.Book a time with me and we can chat 🙂
