According to data from the Edmonton Real Estate Board, sales and listings by were up last month. Listings were up 23.5 per cent from February and sales were up 24.5 per cent. The average price of a single family detached home in Edmonton was $380,083, up 1.3 per cent from February. The average price of a condominium in March was $231,629, down 1.4 per cent from the February price.
While our market appears calm, other places have red-hot markets where unconditional offers and multiple offers are common place.
Fear of rising interest rates
There’s continued speculation that interest rates will rise, making it tougher for Canadians who are leveraged too much. Will Canadians try to get their purchases in before these rates come? Will this mean more activity? Or will higher interest rates make it more challenging, particularly for first-time homebuyers? Of course, interest rates may remain unchanged, given Mark Carney’s reluctance to raise them in fear of massive debt levels in Canada.
Source: Edmonton Journal