It took until the midway point of the year…

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It took until the midway point of the year for us to achieve a particular pair of firsts in the Edmonton Real Estate market. In June, for the first time in 2015, sales were higher than they were for the same period of 2014. At 2,008 reported residential sales in the area, sales were 2.4% higher in June than they were in June of 2014. As mentioned, that’s the first time we’ve beaten last year’s totals this year. The numbers break down like this:

• Single Family homes = 1,243 up 2.1% from June 2014

• Condos = 572, up 1.6% from June 2014

• Duplex/Rowhouses = 156, up 11.4% from June 2014

We said there were two firsts in June. The second, was that our average residential price was down over the same time last year. That’s the first time all year our all-residential prices have dropped below last year’s averages, albeit by less than a percent. We have
been anticipating a small drop, with lower sales
and high inventories. Since sales have started to pick up, we don’t really expect prices to drop
much further at all.

How will these firsts affect you? The first place you should turn to get the answers is your local REALTOR® – here when life happens!

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