Unconventional Fall Sales Reported
Monday, October 6th, 2014It is a common expectation for real estate sales to boom in the spring and summer and to then see buyers and sellers retreat for the autumn and winter months. Though certain years have proven to this to be occasionally true, September sales figures show the Edmonton region remaining very strong as it enters the fall season. According to REALTORS® Association of Edmonton president Greg Steele:
“There is a false idea out there that people only buy houses in the spring and summer. People buy and sell their houses when the time is right for them. Consulting with your local REALTOR® is the best way to see if the time is right for you.”
Expectations should remain high as we move towards the winter sales season. There is no reason to believe the economy within the industry will weaken anytime soon, based on recent statistics provided by the EREB. Averages appear to have remained the same, or even increased in some circumstances. Days on market have remained stable (at 49 days on average) carrying over from August to September, while prices, listings, and sales are all up when compared with September of last year.
For pricing details, click the following sales chart to expand:
Changes in the price of various residence styles showed negligible differences, with single family dwellings dropping a mere 0.4%, while duplex and row houses increased 0.3%. Sales of single family dwellings increased from August to September showing almost a 5% increase in total number sold.
Out of 2291 residences listed over the month, 1568 of those were reported sold. Steele commented that “we normally see a decrease in sales and average price when fall arrives. The strong market we saw in August continued on into September with surprisingly little to no changes in prices.”
Into our fall season interested buyers are continuing to snap up houses as quickly as they are listed while sellers continue to list their homes in record numbers. Click Here to view recent listings in your neighbourhood, or find an agent to help sell your home this October.
