Edmonton Real Estate Statistics – April 12, 2011
April 14, 2011 – Well just when you thought maybe spring was here we are being hit with a snow storm this morning with a forecast with between 5 – 10 cm of snow. I think we might just skip spring and move onto summer.
The spring marketplace continues to be strong. As of this morning there are 2,551 single family dwelling for sale in Edmonton proper. This is a pretty typical inventory level for this time of year. In the previous 30 days there were 661 single family homes sold in Edmonton proper.
This would give us a listing to sales ratio of 3.85:1 just slightly below the 4:1 ratio that we require for a neutral or balanced market. As long as this ratio stays below the 4:1 market expect valuations to continue to have upward pressure to increase.
I am experiencing this first hand as I was trying to sell a property to one of my buyers earlier this week and there were 6 offers written on the property before we could present. Ultimately we had to write an unconditional offer $12,000 over the list price in order to acquire the property.
This is our new reality again. Really good properties listed at a good price are selling within 24 – 48 hours and don’t be surprised to be in a multiple offer situation.
The average list price of a single family dwelling in Edmonton proper is $398,717 and the average selling price in the last 30 days was $386,028. The average number of days on market was 43 days.
Source: Realtors Association of Edmonton
Tags: economy, edmonton real estate, edmonton real estate statistics, Real estate news
