by Doris Jolicoeur, CD Associate Broker, Professional Realty Group Mortgage Associate, Verico Brokers for Life
Some of us thought spring was here, and some of us thought we’d never see another political party with a majority. Well, spring is here when it comes to the Town’s housing market, with less days on market, inventory is moving faster.
Last month, Morinville saw 17 single family homes and four condos sell at average prices of $346,252 and $253,350, respectively. This is a 9.9% decrease over March’s average single family home price of $384,295, and a 1.6% increase over February’s. A year ago last month, the average price was 4.6% higher and 1.7% lower in 2013. Morinville’s average home is now priced at 21.3% less than Edmonton and 29.1% less than St Albert’s. The average price in the whole of the Greater Edmonton Area in April was 21.1% higher as it is most months.
Homes took 49 days to sell, which is a decrease of 24 days from March, 49 days shorter than in February, but they took ten less to sell than in April. It took Morinville homes nine to 16 days longer to sell than average Edmonton and St Albert homes.
In April, the MLS system reported 1,964 new listings and 1,001 units sold giving us a 51% ratio in the Greater Edmonton Area. Like most springs, our saturation rate seems to be increasing once again.
It’ll be interesting to see how different leadership will affect the housing market, or if it even will.