Are the Edmonton Real Estate Market Improving?
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As of today Feb. 13, 2009 there are 2,514 single family homes listed in Edmonton proper. That is not much different than we have been for the last couple of months.
However what has changed is an increase in sales in the last 30 with 476 sales. That gives up a listing/sales ratio of 5.28:1 which is the lowest ratio since the market started it’s nose dive in valuations back in mid-2007.
And that is getting very close to the 4:1 that we require for the market to stabilize. Considering that last month we were at over 10:1 this is great news and could be indicating that we are close to the market hitting the bottom.
So if you have been thinking of waiting to buy that next home you might want to start looking now.
