HOW FAST ARE HOMES IN EDMONTON SELLING?

The Edmonton Real Estate Market is always changing. Stay on top of what's happening in the Edmonton Residential Real Estate Market by following the Real Estate Insider by me (Jenn McPhillamey, REALTOR® with RE/MAX River City. 

When we look at how fast homes have sold, it is typical for homes to take longer to sell in the winter than in the rest of the year. In the spring, homes will sell the fastest. If homes are selling in less than 10 days on market, they likely have had multiple offers and fewer buyer conditions or no buyer conditions. The typical time for buyer conditions is 10 to 14 business days after an offer is accepted. currently, it's normal for a seller to allow a few days before looking at offers. 

The days on market is a good indicator for sellers to see how long it will take for their home to sell. The clock stops and the home is considered sold once the buyer has completed their due diligence and removed all conditions. This is not the same day the buyer gets possession of the home.

I won't be surprised to see the average days on the market increase through the summer and into the winter. If it increases substantially, this is an indication that demand has changed. 

Watch this video for the stats or read below.