Edmonton Real Estate Statistics – March 02, 2010
Well, it looks like we are going to have an early spring this year and the real estate market is reacting accordingly coming on strong early as well.
As of the morning there were 1,727 actives single family dwellings on the market in Edmonton proper on MLS, which is a slight increase from last week’s number of 1,669. More and more people are putting their homes on the market on a daily basis. This gives buyers more selection, but I am concerned that the increase in supply will start to surpass the demand at which point that will negatively affect valuations.
At this moment we are just fine. The sales are increasing at a faster rate than the supply. In the last 30 days there were 584 single family dwellings sold in Edmonton proper – an increase from last week’s number of 517. More importantly, the listings to sales ratio is now below 3:1 at 2.96:1. With that kind of ratio I expect to see valuations to start to increase immediately. That is bad news for buyers and they will need to buy right away before prices rise again.
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
Team Leading Edge… Leading the way with extraordinary service
Tags: buying, economy, edmonton real estate, edmonton real estate statistics, getting ready to sell, home sales, Homes For Sale Edmonton, housing market, Real estate news
