Is the Edmonton Real Estate Market Slowing Down? – June 20, 2011
We might be seeing the first signs of our summer seasonal slowdown. As of this afternoon there are 3,195 active single family homes for sale in Edmonton proper. This is fairly consistent to what we being seeing as of late. However the number of sales in the last 30 days has dropped off somewhat with only 795 sales.
This is having an impact on our listings to sales ratio. This week it has risen to 4.02:1 bring us back into a neutral or balanced market. In previous weeks that ration was a little lower and was putting upward pressure on valuations. That is now gone. Let’s hope that the ratio doesn’t continue to rise where we would see downward pressure on valuations.
