Market Update – Nov 22, 2008
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As of this morning we have 3,200 single family homes listed on MLS in Edmonton proper. In the last thirty days there has been 439 sales. That gives us a listing to sales ratio of 7.29:1 which is slightly better than what we had just a few days ago.
It is however a far cry from the ratio of 4:1 that we need for a balanced market, and I therefor expect continued downward pressure on valuation.
