Have you wondered how the Edmonton housing market has been doing lately? Well, good news: new home construction is up, up, up! What does that mean? It means more people want to move to Edmonton than want to leave it. This means Edmonton is a growing, thriving place. Maybe it’s time you moved to Edmonton.
During the first eight months of 2017, new Edmonton-area home construction soared 29 percent higher than the same period of 2016. From January to August 2017, single-family housing starts numbered about 3,350 units, according to data from the Realtors Association of Edmonton.
If the pace continues, Edmonton will have about 5,000 new single-family homes built in 2017. That’s a lot to choose from, right?
Interestingly, prices on new homes have actually decreased since the same time last year, down five percent to an average of $554,989. So, now’s a good time to buy new.
As for the resale market, which are essentially “used” homes versus “new,” the market was just about the same as last year– stable.
So how many homes were available for sale in Greater Edmonton in the month of September 2017? About 8,300, which is up more than eight percent from the year before.
If new homes in the Edmonton area have been selling for around $555,000, you might be interested to know “resales” have been going for about $440,000. Duplexes/rowhouses come in around $349,000 while condos have been going for about $251,000.
From condos to castles, AlexisHomes has more than a dozen years of experience in the Edmonton housing market. Realtor Alexis Hlady can help you find the best houses for sale as well as the most attractive condos currently on the market. Since it’s the largest investment you’ll probably ever make, Hlady works hard on your behalf to get you what you want at the price you want. She’s a reputable agent who can help make your dreams become a reality. When you’re ready to search for your new Edmonton home and you want to work with the best residential real estate company around, please call AlexisHomes at 780-483-4848.