Expect More Pressure on Valuations
To view and search all Edmonton MLS listed homes for sale visit us at: www.FindMyHouse.ca
As of today in Edmonton proper there are 3,244 single family homes listed for sale. That is a number that has remained fairly stable for the last few weeks.
In the last 30 days there has been only 457 sales of single family homes. That is approximately a 10% drop in the number of sales since last month. Not totally unusual for this time a year when sales have a tendency of slowing down.
That does however give us a listings to sales ratio of 7.098:1, an increase since last month. The ratio that we need for a balanced or neutral market we need a listings to sales ratio of 4:1.
With this in mind I expect that there is going to be continued downward pressure on the valuations of homes.
