As we move further into October, Edmonton’s real estate market continues to show signs of adjustment. Here’s a quick breakdown of this week’s key figures:
Sales Activity
A total of 534 units were sold this past week, reflecting a 3% decrease compared to last week’s figures. While this decline may indicate a slight cooling off, it's worth noting that this level of activity is still relatively steady for this time of year.
New Listings
There were 649 new listings introduced to the market this week, which represents a 15% drop compared to the previous week. This reduction in new inventory could suggest that sellers are holding back, potentially waiting for more favorable market conditions or better pricing opportunities.
Average and Median Prices
- The average home price in Edmonton now sits at $435,000, marking a 5% decline from last week’s average.
- The median home price is currently $408,000, showing a 7% drop from last week.
These downward trends in pricing might be a response to the softer demand and a shifting balance in the market. Buyers could find this an opportune time to explore options, while sellers may need to adjust their strategies to stay competitive.
All statistics are provided by the Realtors Association of Alberta.
