Edmonton Real Estate Statistics – Sept.01, 2009
Sept. 01, 2009
Well the month of August was pretty similar to what we saw in the month of July. As of this morning there were 2,069 single family dwellings listed with the Edmonton Realtors Association on MLS. In the previous 30 days there were 712 single family dwellings that sold. That would give us a listing to sales ratio of 2.9:1 a slight increase from last month, but still well below the 4:1 listing to sales ratio we need for a balanced or neutral market.
I am not concerned with the slight increase in the ratio as I mentioned it is still below the neutral point and we have to take into consideration that it was August which is typically a slower month as people try the get the last of the summer holiday fun in, and then start to get prepared to get the kids ready for school.
I am expecting to see the sales start to increase in the month of September and October as we get into our normal fall market. Home valuations like most things are dictated by the law of supply and demand. And at this time the lower ratio indicates a fairly high demand.
I expect the balance of the year to continue to be strong, but I do expect that 2010 will be even stronger, and valuations to continue to increase.
So what does that mean to you? Well if you are a first time buyer you are going to want to get into the market as soon as possible. If you are looking at selling your current home to move to a bigger or more expensive home you are going to want to do it as soon as possible. However, if you are downsizing, or moving to a lesser expensive home then you want to wait for market valuations to continue to rise before you make your move.
Please feel free to give me a call anytime on my cell 780-995-6520 should you ever be curious on the value of your home and would like a free no-obligation comparative market analysis of your home.
