- There are currently 2,437 active condo listings
- Average DOM (Days on Market) is 76 days with an average listing price of $264,211
- 339 listings sold last month with an average DOM of 62 days and an average sale price of $235,016 (listing price of $244,659)
- We have 7.2 months of inventory with buyers and sellers negotiating 96.1% sales to asking price
- 377 active listing in Downtown with an average DOM of 75 days and listing price of $349,690
- Only 55 sold last month with an average DOM of 69 days and Average selling price of $250,467 (listing price of $261,379)
- We have 6.85 months of inventory with buyers and sellers negotiating 95.8% sales to asking price
- Overall condo market in Edmonton remain consistent from May to June with average DOM and price remain very close
- Slight increase in inventory making the buyers market strong with selection for potential buyers
- Qualified buyers have the negotiating power with offers taking a bit more time to negotiate
- Even with the high inventory, it's not a bad time to sell as we see sales activity happening as buyers are willing to make offers on the right home (be prepare that they might take more than 1 visit)
- With the higher inventory, majority of the listings feature a higher days on market. As a buyer, it is vital to do proper research on the history of the listing and the building for comparison data to base the offer off of. Having a structured, educated plan going into negotiations will help both sides come to realistic terms of an accepted agreement
- Take your time to look but knowing your limits helps set reasonable expectations. Knowing what is a "good deal" (by doing your research) is the first part of potentially getting a "great deal" on your home!
- Don't be afraid to take the chance, put your foot in the door and make an offer! You never know where it will end up!
