Residential Statistics Greater Edmonton Area- March 2021

RESIDENTIAL STATISTICS – GREATER EDMONTON AREA MARCH 2021

Residential Statistics – greater Edmonton area* have been released by the REALTORS® Association of Edmonton. March proved another strong month reported for home sales in the greater Edmonton area. Residential home sales up 109.9% over March of 2020. Average home sales price up 3.5% from February of 2021 and up 13.7% from March 2020. Average days on market has dropped from 60 days in 2020 to 42 this year.

Acreage home sales are up by 180.5%. The sales volume (money spent) on rural homes up 218.3% from last year. The average average selling price of acreages with homes was $702,832. Noting that 27 homes sold over $1,000,000.

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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Residential Activity Greater Edmonton Area. * Greater Edmonton Area includes Beaumont, Bon Accord, Bruderheim, Calmar, Devon, Edmonton, Fort Saskatchewan, Gibbons, Leduc, Legal, Morinville, New Sarepta, Redwater, Rural Leduc County, Rural Parkland County, Rural Strathcona County, Rural Sturgeon County, Sherwood Park, Spruce Grove, St. Albert, Stony Plain, Thorsby, Wabamun, Warburg.

ACREAGE STATISTICS – GREATER EDMONTON AREA MARCH 2021 vs MARCH 2020

Rural Statistics of the greater Edmonton area. Left column 2021 numbers, right column 2020.