Looking to buy a home in Edmonton? There are plenty of options

EDMONTON – The number of homes for sale in Edmonton has increased significantly over the past year.

The numbers released by the Realtors Association of Edmonton show there were 6,681 listings in the city at the end of February, which was a 33 per cent increase compared to the same time in 2015.

READ MORE: Real estate sales in Edmonton expected to slide slightly in 2016

Despite the spike in properties for sale in February, there was a 10 per cent drop in homes sold compared to 12 months earlier.

“Relative to 2015, potential buyers have more inventory to choose from. Despite this inventory growth, prices have moderated only slightly compared to last year, so home owners and sellers can maintain some confidence that housing prices are remaining,” Realtors Association of Edmonton chair Steve Sedgwick said.

Tweet This Click to share quote on Twitter: "Relative to 2015, potential buyers have more inventory to choose from. Despite this inventory growth, prices have moderated only slightly compared to last year, so home owners and sellers can maintain some confidence that housing prices are remaining," Realtors Association of Edmonton chair Steve Sedgwick said.

The average price of homes in Edmonton rose 6.9 per cent over the previous month but was at par with sales a year prior.

READ MORE: It’s now a buyer’s market when it comes to Edmonton real estate 

The average days on the market was 57 days in February, down from 71 days in January but up from 48 from February 2015.

“Buyers are still taking their time to consider all of their options before purchasing a new home,” Sedgwick said.

“But with warmer weather just around the corner, clients are reaching out to their realtor for support as the busy spring buying season approaches.”