Is the seller’s market coming to Edmonton??
Some of you might have heard how the Toronto market has become a seller’s market. A large number of the new listing coming on the market are receiving multiple offers, and people have even gotten creative by including videos with their written offers pleading for their offer to be accepted.
Well we are a long way from that here in Edmonton. The Edmonton marketplace has been strong in comparison to the rest of Canada for well over 18 months. The listing to sales ratio is hovering around th 3:1 at this time, which indicates that there might me still some upward pressure on valuations, but we are far from becoming a hot market.
The number of new listings coming on the market has kept pace with the sales, and until that changes we can expect the market to remain fairly stable.
