There was a sharp increase in home sales in Edmonton in February. Despite the year-over-year figure being 10.1 per cent down, sales were up 36.54 per cent compared to January 2016. The 837 sales came from an inventory that increased to 6,681, up 16.7 per cent from January.
“Sales numbers are increasing consistent with seasonal trends,” REALTORS® Association of Edmonton Chair Steve Sedgwick explains. “Relative to 2015, potential buyers have more inventory to choose from. Despite this inventory growth, prices have moderated only slightly compared to last year, so home owners and sellers can maintain some confidence that housing prices are remaining stable.”
The stronger sales pushed prices higher, to roughly the same level as a year earlier, with the average selling price rising 6.93 per cent month-over-month to $363,266.
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