Here’s the October 2018 Market Report for areas covered by the Realtors Associations of Edmonton (RAE).
According to their most recent press release, year over year residential unit sales, as well as average prices have decreased in the past month.
In a statement by RAE Chair Darcy Torhjelm,
“Some of the market decreases are a result of slower sales coupled with higher inventory and listings, as well, it is also common for both prices and sales to begin to decrease at this time of year due to seasonal market fluctuations. As we move towards the end of the year, we will likely see average days on market grow with inventory remaining higher.”
The following data is a comparison between October 2017 and October 2018 numbers, and is current as of November 2018.
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Here is where the market sits in the Edmonton Area. Our Market is Holding Strong!
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Money Making Investments
Updating Back Splash
Making stategic improvements on your property before selling is the best way to increase value and your final sale price.
If your kitchen cabinets are still in good shape and less than 7 years old, then consider updating just the back splash to create a new wow factor that incorporates current finishes.
This makes a big difference in the overall first impression of your kitchen, it’s like adding great jewellery to a pretty good dress, it really makes all the difference.
Quick kitchen updates also include new handles, faucet and lighting. These don’t impact your bank account too much but do make a big difference.