Edmonton Real Estate Statistics – February 22, 2010
Well we are off to another good week in the Edmonton real estate market, as the market is getting stronger every day.
As of this morning there were 1.669 single family dwellings for sale in Edmonton proper. That is a slight increase from last weeks inventory level of 1,607. I expect the inventory to continue to increase as we get closer to spring time.
In the last 30 days there were 517 single family dwellings sold in Edmonton proper. That also is a slight increase from last weeks level of 478.
To most important and relevant part is our listing to sales ratio… they are dropping. This week’s ratio is 3.23:1 in comparison to last week’s ratio of 3.36:1. So two things here are important. Number one is the fact that the ratio is dropping and showing us a trend. Number two the ratio is below the 4:1 that we need for a stable or neutral market.
So expect valuations to start rising. If you are a first time buyer don’t wait call your realtor now and see what your options might be even if you don’t have your down payment. Also if you are thinking of moving to a bigger or more expensive home again the sooner you make your move the further ahead financially you will be.
Please call me if you have any questions about this, or anything else related to Real Estate. I would love to help you out. (780) 634-8151
Serge Bourgoin founding and managing partner of Team Leading Edge at RE/MAX Elite
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