April 2021 Greater Edmonton Area Real Estate Activity

The spring market in the Edmonton area is cooking! Sales in April continued the strong trend that began in May 2020 with the Single-Family category the most active selling on average in only 30 days. It’s definitely a “seller’s market” with in some cases homes receiving multiple offers.

We saw a nice increase in the number of new listings over the month providing buyers with more choice. Inventory increased 11.6% when compared to March 2020 but is still less than we’ve seen in the month of April for several years.

The average sales prices in all categories increased year-over-year with the Single-Family category showing the highest gains. If there’s any good news for buyers, its that the prices were relatively flat month over month.

Looking forward, we see the strong sales trend probably continuing through spring and into the early summer. The market is broad and diverse however, so sellers must realize that price, presentation, and location are still the key factors buyers consider when shopping for a home. Just putting a lawn sign in the front yard is no guarantee of a quick sale at a premium price.

If you’re a buyer in this market, we recommend you have your “ducks in a row” with a current mortgage pre-approval letter and a clear perspective of your wants and needs. Utilize the services of a capable, experienced Realtor and remember, “no deal is better than a bad deal”. Don’t let yourself rush into a bidding war unless you’re sure it’s one you can live with tomorrow.

In the meantime, if you’re looking to buy or sell and are seeking some advice, please let us know. Until then, stay safe, healthy and smell the May flowers!