The Status of the Edmonton Real Estate Market – January 03, 2012
I would first like to wish everyone a Happy and Prosperous
New Year! As it can be expected the market of the last 30 days has been slow
because of Christmas and New Years take our focus from real estate and towards
the holiday festivities.
Currently there are 1,790 single family dwellings listed on
the market in Edmonton proper. That lower inventory level that we have seen in
the last few months as people let their listings expire and come off the market
for the holiday season.
In the past 30 days there were 367 single family dwellings
sold. This reflects the season slow down that we would expect.
This gives us a listings to sales ration of 4.87:1 which
normally would indicate that there would be downward pressure on valuation.
However the seasonal slowdown is giving us a ratio that might not really be
indicative of the real market situation. I think that over the next 2 – 4 weeks
we will see this ratio change significantly as the buyers come back to the
market. I also expect that when they do we will probably see increasing
pressure for valuations to rise.
Tags: economy, edmonton real estate, edmonton real estate statistics, housing market
