RESIDENTIAL STATISTICS – CITY OF EDMONTON March 2021

RESIDENTIAL STATISTICS – CITY OF EDMONTON MARCH 2021

The REALTORS® Association of Edmonton has released the March 2021 Residential Statistics – City of Edmonton. Another strong month reported for home sales in Edmonton. Residential home sales up 103% over March of 2020. Average home sales price up 4.6% from February of 2021 and up 14.4% from March 2020. Average days on market has dropped from 62 days to 43.

The biggest jump in March 2021 home sales is the selling price of single family homes up 13.9% from last year, averaging out to $470,381. Duplexes and row housing prices are up 11.5% to $360,093. Finally Condo sales are up slightly by 2.8% to an average of $221,855.

The rates on home loans are being nudged higher by a rising interest rate, on Canadian five-year government bonds. Several of Canada’s major banks hiked their fixed-rate mortgage rate. As a result, the rates most borrowers pay are now higher by as much as .25% on loans with five-year terms. There are expectations rates will continue to rise, so homebuyers and homeowners may need to move fast to lock in the best rate. If you’re looking to purchase a home, try to lock a low rate now because you’ll be able to hold onto it for up to 120 days.

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A very strong residential market in the City of Edmonton as the March 2021 numbers are released by the REALTORS Association of Edmonton.

2021 vs 2020 RESIDENTIAL STATISTICS – CITY OF EDMONTON. Left Column 2021 Numbers, Right Column 2020