In Edmonton right now:

  • There are currently 2,437 active condo listings
  • Average DOM (Days on Market) is 76 days with an average listing price of $264,211
  • 339 listings sold last month with an average DOM of 62 days and an average sale price of $235,016 (listing price of $244,659)
  • We have 7.2 months of inventory with buyers and sellers negotiating 96.1% sales to asking price

In Zone 12 (Downtown & Oliver)

  • 377 active listing in Downtown with an average DOM of 75 days and listing price of $349,690
  • Only 55 sold last month with an average DOM of 69 days and Average selling price of $250,467 (listing price of $261,379)
  • We have 6.85 months of inventory with buyers and sellers negotiating 95.8% sales to asking price

What we see:

  1. Overall condo market in Edmonton remain consistent from May to June with average DOM and price remain very close
  2. Slight increase in inventory making the buyers market strong with selection for potential buyers
  3. Qualified buyers have the negotiating power with offers taking a bit more time to negotiate
  4. Even with the high inventory, it's not a bad time to sell as we see sales activity happening as buyers are willing to make offers on the right home (be prepare that they might take more than 1 visit)

What we expect:

  1. With the higher inventory, majority of the listings feature a higher days on market. As a buyer, it is vital to do proper research on the history of the listing and the building for comparison data to base the offer off of. Having a structured, educated plan going into negotiations will help both sides come to realistic terms of an accepted agreement
  2. Take your time to look but knowing your limits helps set reasonable expectations. Knowing what is a "good deal" (by doing your research) is the first part of potentially getting a "great deal" on your home!
  3. Don't be afraid to take the chance, put your foot in the door and make an offer! You never know where it will end up!