Edmonton Real Estate Statistics – November 30, 2009
While the newpapers are happy to announce that maybe the recession is over since we had economic growth in the 3rd quarter of this year, things here might be changing.
We also go a report last week that came out that indicated that the number of unemployment claims in Edmonton were rising, which would indicate a slow down for us here in Edmonton.
As of this morning there were 1,762 single family dwellings listed on MLS in Edmonton proper. That is only a slight decrease over last weeks number1,781. This would be a seasonal norm and not one that I would be concerned with.
The concerning part is the drop in the sales. In the last 30 days there were 509 single family dwellings sold in Edmonton proper. That is a drop from last weeks number of 545, but that also represents almost a 7% drop in sales in one week alone.
You compare that with only a 1% drop in the listing inventory that is a trend of concern. The listings to sales ratio has also risen to 3.46:1 from last week’s ratio of 3.27:1. If this trend continues we might see valuations drop slightly before we see them come back again in the spring marketplace.
