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For those of you looking for this update on my usual Monday morning I apologize as it was a very hectic day yesterday.

Well the market continues to improve.  As of this morning there were 2,458 single family homes on the market in Edmonton proper, while there were 869 sales in the previous 30 days.  That give us a listing to sales ratio of 2.83:1. This ratio is again lower than last week and at this level is a strong indicator that valuations should be rising.

The biggest driver to the market has been the first time buyers as homes have become so affordable since the devaluations that had occured since May 2007.  And these other statistics do support that.  Of the 869 sales that occured in the last 30 days a full 56% of them were for homes under $350,000, 26% were for homes between $350,000 – $450,000, and only 18% were for homes that sold over $450,000.

Based on those kinds of numbers I would expect to see the rebound in valuations in the lower price ranges before we see it trickle up to the higher valued homes.  Again making it all that more important that if you are a first time buyer or a buyer looking to upgrade to a more valuable home to act sooner than later.

Things keep improving for sellers and there is more bad news for buyers.  As of today on the listed on the Realtors Association of Edmonton there are 2,491 single family homes listed in Edmonton proper.  In the previous 30 days there were also 837 single family homes sold.

That would give us a listings to sales ratio of 2.98:1.  This ratio have been dropping every week since we broke the 4:1 neutral market barrier and is telling us that valuations are rising.

You buyers need to get into the market as soon as possible to get the best deal and possibly save yourself thousands of dollars.  Please feel free to  call me on my cell 780-995-6520 if you would like some help finding that next home.

Well I have to say that I am impress with the numbers that I am currently seeing.  As of today there are 2,510 single family homes listed in Edmonton proper.  That number has been holding pretty steady over the last little while which is good to see.

Also the sales in the past 30 days have increased to 811.  This is definitely a trend that most people want to see with the exceptions of buyers.  With those numbers that give us a listings to sales ration od 3.09:1 again much lower than the 4:1  that is needed for a neutral or balanced market.

So look out boys and girls valuations are rising whether we like it or not.

Sales activity on the Edmonton Multiple Listing Service® increased in April as compared to last month and April 2008. There were 3,019 residential properties listed in April with sales of 1,843 (up 33.6% from last month and 1.1% from April 2008).

The average* price of single family homes in the Edmonton area was up 1% from March but, at $353,386, was still 8.5% below the last April price of $386,033. Condo prices were up 2.4% from last month to $236,020 while duplex/rowhouse prices were up 5.2% at $291,068.

“Increased sales activity is evident in most real estate offices and some REALTORS® are reporting multiple offers on select properties,” said Charlie Ponde, president of the REALTORS® Association of Edmonton. “However, inventory is still relatively high and sellers should price their properties aggressively to attract offers.”  

The number of residential properties available through the MLS® System on April 30 was 7,539 – up 1% from last month but well below the glut in April last year when there were 10,606 properties available. The year-to-date sales-to-listing ratio is just 46% but the April S/L ratio of 61% is an indicator of increased activity. Average days-on-market in April was 51 – a number last seen in March 2008.

“REALTORS® are optimistic about the Edmonton market,” said Ponde. “In-migration figures are positive, retail sales in Alberta are still higher than the rest of the country and unemployment figures are lower than other parts of Canada. First-time buyers are entering the market because of historically low interest rates and renovation incentives are encouraging move-up buyers to consider relocation.”

Total sales through the MLS® System for the month were valued at $635 million with a year-to-date total of $1.75 billion. Total YTD sales value is down 23% from the same time last year but sales are off by just 16%

Source: Realtors Association of Edmonton

For all of you that were looking for the statistics yesterday I apologize for being a day late.  I will continue to try and post them on monday morning.

As of today there were 2,529 residential listings in Edmonton proper. A number that seems to be holding fairly stable at the moment.  However the number of sales are on the rise.  In the past 30 days there were 778 single family homes sold in Edmonton proper.

That would give us a listings to sales ratio of 3.25:1.  That is the third straight week in a row that the ratio has been below that crucial 4:1 level.  This is an indicator that valuations are going to be rising.

So if you are thinking of buying do it now and potentially save yourself thousands of dollars.

The market is changing fast… very similar to what we saw when the market had it’s down turn back in May 2007.

As of this morning there were 2,521 residential listings in Edmonton proper.  In the last 30 days there were 684 listins sold which again is an increase over last week.  That would give us a listing to sales ratio of 3.56:1.  Again that is a drop from last week.

For those of you who have been following this blog you will remember that historically in Edmonton we need a listings to sales ratio of 4:1 for a neutral or balanced market.  Now for 2 weeks in a row we have been below that market which supports my comments lasts week that we have probably seen the bottom of valuations.

I wouldn’t be surprised at all if we were to start seeing valuations start to rise again soon.  So if you were thinkg of buying then the sooner the better as they say.

According to a study done by IPSOs REID

Amid Barrage of Bad News,

Most (83%) Canadians Remain ‘Optimistic’ About Canada

Seven in Ten (69%) Think We’ll Come Out of the Recession

Stronger and Better than Before it Started

Toronto, ON – Amid a barrage of bad-news stories dealing with gloomy economic forecasts, deep deficits and job losses, even in this time of recession Canadians remain optimistic, according to a new Ipsos Reid poll conducted on behalf of Canwest News Service and Global National.

 In fact, eight in ten (83%) are ‘optimistic’ (36% very/47% somewhat) about ‘Canada as a nation’, and an equal proportion is ‘optimistic’ (26% very/57% somewhat) about their ‘standard of living compared to others’. It seems that even in tough times, most Canadians believe they’re relatively well-off.

 Further, eight in ten (84%) ‘agree’ (35% strongly/49% somewhat) that they are ‘always an optimist’ and that they ‘see the glass as half full’, an attitude that appears to be in stark contrast to the prevailing mood in the news media – one of impending doom and gloom.

 Focusing on the economy, seven in ten (69%) ‘agree’ (23% strongly/46% somewhat) that ‘we’ll come out of this economic recession stronger and better than before it started’. Just three in ten (30%) ‘disagree’ (8% strongly/22% somewhat). What is unclear is when that will be, as only 44% are ‘optimistic’ (11% very/34% somewhat) that it will be this year. The majority (55%) is ‘not optimistic’ (20% not at all/35% not very) that we’ll get out of recession this year.

 Still, nine in ten (87%) ‘agree’ (40% strongly/47% somewhat) that ‘despite everything that’s going on in the world, they’re still optimistic for a better tomorrow’. However, only a slim majority ‘agrees’ (15% strongly/37% somewhat) that ‘they’re confident that when they grow up, today’s children will be better off than their own generation is today’, while nearly one half (47%) ‘disagrees’ (15% strongly/32% somewhat) with this sentiment.

Health, Arts, Science and Technology…

Setting aside economic issues for now, Canadians appear to be optimistic about a wide variety of things ranging from their own health to advancements in science and technology.  More specifically, nine in ten (90%) are ‘optimistic’ (44% strongly/46% somewhat) about their ‘personal health’ situation, perhaps driven by the fact that eight in ten (83%) are ‘optimistic’ (32% very/50% somewhat) about ‘the advancements in science and healthcare to cure future ailments’.

 Moreover, eight in ten (80%) Canadians are ‘optimistic’ (29% very/50% somewhat) about ‘technological discoveries that will help make our lives better’.  One area where a majority (62%) is still ‘optimistic’ (18% very/44% somewhat), but not to the same degree as the areas above, relates to ‘the strength of arts and culture’ in their community. Fully one in three (34%) are ‘not optimistic’ (8% not at all/26% not very) about the strength of the arts in their community.

These are the findings of an Ipsos Reid survey conducted on behalf of Canwest News Service and Global National between March 24 and March 26, 2009. The poll was based on a randomly selected sample of 1,001 adult Canadians, who were interviewed by telephone. With a sample of this size, the results are considered accurate to within ±3.1 percentage points, 19 times out of 20, of what they would have been had the entire adult Canadian population been polled. The margin of error will be larger within regions and for other sub-groupings of the survey population. The data was statistically weighted to ensure the sample’s regional and age/sex composition reflects that of the actual Canadian population according to the census data.

For more information on this news release, please contact:

John Wright

Senior Vice President

Ipsos Reid

Public Affairs

(416) 324-2002

For full tabular results, please visit our website at www.ipsos.ca. News Releases are

available at: http://www.ipsos-na.com/news/

CAUTION!!

  Buyers should be really aware that the bottom of the real estate market in my opinion has hit, and I am expecting valuations to possibly start rising.  So if you have been sitting on the fence waiting for prices to drop lower, then jump off quickly and start looking.

As of this morning on the MLS system in Edmonton proper there were 2,497 single family dwellings for sale, a number that has been holding pretty stable.  However, the number of sales are on the rise.  In the last 30 days there were 630 single family dwellings sold.  That would give us a listing to sales ratio of 3.96:1, the lowest seen since early 2007.  It is also lower than the 4:1 we need for a balanced or neutral market, and an  improvement over last week.

 If this trend continues you can expect valuations to start rising.  If you have been thinking of  buying in the next year now is the time to act and save money.

Source of listing and sales data provided by the Realtors Assc. of Edmonton

Great news if you are going to be selling your home as it doesn’t look like values are going to be dropping much further if any at all.  Bad news if you have been thinking of buying but want to wait a little longer.

As of this morning there were 2,454 residential single family dwelling listings in Edmonton proper.  In the past 30 days we have had 593 single family dwellings sold.  An increase over the last time I checked it.  This brings the listings to sales ratio now down to 4.14:1.  This is also an improvement over last week.

If this ration drops under 4:1 then we can expect valuations to start rising.

So if you have been thinking about buying this year get on the band wagon now…

Don’t have your downpayment all saved up yet… don’t wait contact Dominion Lending Optimum at www.dlconline.ca  to contact them and ask about their 100% financing options.