Edmonton Real Estate Statistics – October 05, 2009
I have to let you all know how excited I am. I just came back from a 3 day course in Calgary on real estate investing and I have to tell you even for an old dog like myself that has been in this industry since before computers I learned so much. It is amazing what you didn’t know that you didn’t know!!
Let’s get back to what is happening in the Edmonton Real Estate Market. As of this morning in Edmonton proper there were 1,936 active single family dwellings listed. That is almost an 8% drop from last week. In the last 30 days we have seen 674 single family homes sold in Edmonton proper, which is an increase of 2.4%
Well it doesn’t take a rocet scientist to know that if supply is going down and sales increasing that valuations are probably rising. As a matter of fact the current listings to sales ratio is down to 2.87:1 in comparison to 3.21:1 last week.
As long as that ratio stays well below the 4:1 needed here in Edmonton for a neutral or balanced market valuations are going to continue to rise. So if you are a first time buyer you cannot afford to wait till you have more downpayment you need to make the more now. If you are thinking of buying a more expensive home from your current home again you cannot wait as your next home will go up more in value than your present home. For those that are downsizing then maybe you want to wait as long as you can, because you will pur more money in your pocket.
Well that is it for me right now. Keep checking here on the blog when I will be sharing some of what I learned in my course over the weekend, otherwise I hope that you have a terrific week and I will see you here next Monday with the statistics of the week.
