Sylvan Lake Market Update – March 31, 2020

Posted by Jay McDouall on Wednesday, April 1st, 2020 at 8:23pm.

Amid the COVID-19 crisis, March home sales in Sylvan Lake are down compared with the past three years, the number of YTD sales in Sylvan Lake overall is most comparable to that of 2016. Though more regulations are implemented on the self-isolation process, we still expect sales to trend slightly higher for April 2020's sale count. The number of new listings in Sylvan Lake is at the lowest over the past 5 years. This isn't the worst news if you're trying to sell, as lower inventory levels mean less competition, likely due to a number of sellers still contemplating whether they want to re-enter the market or stay put.

Sales & overall buyer activity at the higher price points has been slow, especially over $600,000. Sylvan Lake experienced just 1 sale over the $600K price point YTD. We're starting to see a number of buyers scooping up the houses they've been watching throughout the fall. The busiest price range is trending between $270,000 to $300,000 in Sylvan Lake with an overall average of 62 days to sell.

If you've found a property you'd like to get a closer look at Schedule a Viewing today or Contact Us for more information!

Whether you're buying or selling, or you're simply looking for more information, Contact Us & we'll get you some answers.

Information Based on Central Alberta Real Estate Board MLS® Stats 2016-2020

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