Big Lake Communities Real Estate Update - June 2022
The Starling, Trumpeter, Kinglet, and Hawks Ridge real estate stats continue to defy the Edmonton and national statistics, proving once again that these "bedroom" communities are a smart investment.
The average sale price in Big Lakes is up 15.26% which is monstrous compared to Edmonton's 3.83% in the same timeframe. This is likely highly influeced by the large volume of new home sales that have occured.
A more reliable indication is how quickly the homes are selling. In the Big Lake neighbourhoods home are selling in an average of 35 days where in Edmonton they are selling in 46 days. That's approximately 24% faster. On average in 2022 homes in Trumpeter, Starling, Kinglet, and Hawks Ridge are selling 12.7% faster than they were last year.
When times are uncertain, the strong neighbourhoods shine the brightest. That's what we are seeing right now. The rising interest rates are raising serious questions, and they will have an impact on the real estate market. But their impact will be felt less in the Big Lake neighbourhoods than elsewhere.