In Edmonton right now:

  • There are currently 2165 active condo listings
  • Average DOM (Days on Market) is 77 days with an average listing price of $265,375
  • 251 listings sold last month with an average DOM of 74 days and an average sale price of $207,979 (listing price of $216,907)
  • We have 8.63 months of inventory with buyers and sellers negotiating 95.8% sales to asking price

In Zone 12 (Downtown & Oliver)

  • 305 active listing in Downtown with an average DOM of 78 days and listing price of $375,448
  • Only 19 sold last month with an average DOM of 47 days and Average selling price of $246,757 (listing price of $256,530)
  • We have 16 months of inventory with buyers and sellers negotiating 96.2% sales to asking price

What we see:

  1. Inventory levels increased as expected with the Spring market. 
  2. Sales activity overall in Edmonton have picked up but Downtown area has slowed down
  3. Sales to asking price has only changed nominally in general
  4. More buyers have begun their search now and have not been fearful of making lower offers
  5. Selling right now is still going to be challenging in certain markets, positive note is that there are more buyers looking than over the last few months

What we expect:

  1. Sales activity will pick up significantly over the next few weeks!
  2. Buyers making offers right now are experiencing increase time for negotiations to come together but we are seeing better deals being accepted especially for homes that have been on market for a long time
  3. Doing proper research and asking tough questions is super helpful in understanding the motivation of both parties. This is your sale experience, don't be afraid to ask the tough questions so you can know this is the best opportunity for you!
  4. Specialist in certain markets can make a big difference in your real estate experience. Having a good feel of what the market is like can mean a big difference what the outcome will be like in price and time on market!