Edmonton Real Estate Statistics – January 25, 2010
Hello everyone,
I am back from the holiday from hell and ready to get back to work. By the way just a hint never loose your wallet with all your bank cards and credit cards in China.
I see that since I have been gone the market has really stabilized. As of this afternoon there are 1,409 single family homes listed in Edmonton proper. That is a slight drop from it was before I left on my holiday. However the number that has dropped the most significantly is the number of sales which dropped to 326 in the last 30 days.
That would give us a listing to sales ratio of 4.32:1 the highest ratio that we have seen in almost a year. Normally with that kind of ratio I would expect a downward pressure on house valuations. However we do have to take into considertation the time of year we are in right now.
If this number doesn’t improve by the middle of February then I will start to get concern about valuations dropping. But with the the threat of interest rates going up this year I think that we will start seeing people come off the fence and start buying again.
So lets see what the numbers start to look like by the middle of February before we get excited one way or another.
