Edmonton Real Estate Statistics and Forecast – June 10, 2011

It sure feels like summer time is finally coming to Edmonton. The weather is getting hotter, grass is turning green, flowers are out and real estate is in full swing…finally!!!

The real estate market continues to be strong with good sales activity. As of today June 10th, 2011 there are 3,127 single family homes listed on MLS® in Edmonton proper. The number of listings has been holding fairly steady of the recent few weeks.

The number of sale of single family homes listed on MLS® in Edmonton proper has increased to 855 in the past 30 days. With this many listings and sales we end up with a listings to sales ratio of 3.66:1 which is lower than we have seen recently.

This ratio is also lower than the 4:1 ratio that is needed for a balanced or neutral market. With a ratio of 3.66:1 I would expect slight upward pressure of valuations. If this trend continues expect prices to start rising.

If you are thinking of buying I would not hesitate and look at buying now before prices do go up and there is still the threat of interest rates going up this fall. Now might be the best opportunity to buy.

Tags: , ,

This entry was posted on Friday, June 10th, 2011 at 3:05 pm and is filed under Economic News, Edmonton Real Estate Forecast, Real estate news, Statistics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the REALTORS® Association of Edmonton. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.