If you’ve been watching the Edmonton real estate market throughout the past few months then you already know it’s been unpredictable!
It’s no surprise to real estate agents in Sherwood Park that residents are reaping the benefits of an increased demand for real estate in the Greater Edmonton area. Homes for sale in Sherwood Park are selling at a quip. Stats suggest that the area is in the top 3 for fastest sales; with most homes averaging a quick 42 days on the market. This is great news for sellers in the Sherwood area, because they won’t have to wait long to move. This is especially convenient for both buyers and sellers, since everyone is feeling the urge to move and shake as the pandemic wears on.
The great news is that while the initial start to 2021 might feel reminiscent of 2020, the latter half should see us on the other side. As Tom Shearer, chair of the RAE recently remarked to the Calgary Herald:
“We are hopefully on the tail end of real tough times here in Alberta, and people have done things to save money and be more cautious and really stabilize their financial situation.”
Real Estate Sales Benefit From Albertans Financial Discipline
It could very well be due to Albertans ability to buckle down, that we are seeing housing sales in Greater Edmonton jump to record levels. In fact, December’s sales were up 31 percent from the year previous. The average home price was also up from the year prior. It clocked in at $362,000 on average, which is up 2.6 percent from last year.
With low interest rates to stimulate the economy, we can expect to see home sales in Edmonton continue to soar in 2021. Especially in areas like Sherwood Park.
If you’ve been considering a move within the Edmonton area then give the local experts at Re/MAX Elite Edmonton a call first! We are here to answer any questions you might have about real estate.