In January it took around 55 days to sell a house in Edmonton and there were 11% fewer sales when compared to December. The average price was $427,128 while the median price was $394,000. Only 390 houses sold and there was 1298 active listings. The average price per square foot was $284.95. Prices are hanging in there with a decline of just .5% compared to December's average price.

Condos took an average of 61 days on the market to sell and the average price was $247,116 which was almost identical to the average price in December.While prices held steady, the amount of sales fell by 21% when compared to December. The median price was $235,000 and the price per square foot was $235.80. There were 723 active listings and 201 condos sold in January.

The impact of low oil prices is being felt in Edmonton's real estate market and we can expect more listings to come on the market. This can be a good thing for buyers as they will have much more to choose from and they will have more negotiating power with the downward pressure on prices.

Posted by Robert and Shawna Eskiw on
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