Surge in Sales - Low Inventory - Get your House in Order

January 2024 Real Estate Round-Up

3 Things Happening in the Edmonton Real Estate Market.

1.  Sales are up 17.5% from last month and 46.8% from last year January

2.  Inventory is down from last month by 1.9% and down year over year by 12.1%

3. Condos, Townhomes and Semi Detached homes saw the biggest increases in prices.

2 Key Takeaways from the market update.

1. The Edmonton market started 2024 as a seller’s market.

2. All signs point to an increase in prices and a competitive market for buyers.

1 Piece of advice for buyers

• As a buyer in a market like this, I’ll have all my ducks in a row: pre-approval, wishlist, contingencies and a strategy for multiple offers.

1 Piece of advice for sellers

• There’s an opportunity to get top dollar for your property. Being complacent because the market favours sellers could be a rude awakening. The highest level of marketing will give you the highest level of return.

“By failing to prepare, you are preparing to fail.” - Benjamin Franklin

If you are a buyer or seller looking for some advice and a strategy to win in today’s market, I’d be happy to help!