Edmonton Realtors® Annual Forecast 2017 in a nutshell:

                                                                                           

Slight sales decline + gentle inventory increase = relatively stable market

 

Total residential sales: -1%

Single family homes:  -2.2%

Condos: - 3.8%

Duplexes/Townhomes: -0.5%

 

Single family homes unit sales will be lower compared to 2016 by 1.7% (the decline should end by the summer)

The prices are expected to decrease by 2.2% and thus  the inventory is expected to stay higher compared to previous years. Single family homes in the price range between $350,000 to $450,000 will continue to be the most desirable segment of the market.

(2016 – the sales were down by 5.3% compared to 2015 but prices dropped only 0.6%, with the hotspots in The Hamptons, Windermere and Summerside.

 

After the condominium sales drop in 2016, this segment should stabilize and the sales should even increase gently (by 0,2%:), but the inventory will continue to grow by 1.1% bringing the average selling price down by forecasted 3.8%.

 

Duplex/rowhouses will continue to be a stable and very popular segment for many first time home buyers, increasing the sales by 0.5% and decreasing the inventory by the same 0.5%.

Yes, the ongoing economic uncertainty impacted the market, but in a more acceptable way than expected. The buyers are cautious and the sellers need to be very careful when taking into consideration their pricing, timing, motivation and urgency.

 

For more info and all presentation slides:

Edmonton Real Estate Forecast 2017   

 

 

 

 

 
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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.