Low Listing to Sales Ratio Puts Upward Pressure on Edmonton Real Estate Valuations

The month of May is almost over and a review of the number of listings and sales of single family homes in Edmonton proper show a very robust market.

Currently there are 3,094 single family homes listed in Edmonton proper. That is a healthy level of inventory on the market giving buyers ample homes to choose from.

The number of sales has been on the rise. In the previous 30 days there have been 1,062 single family homes sold in Edmonton proper.

With this level of homes available for sale, and the number of sales that have taken place in the previous 30 days this would give us a listings to sales ratio of 2.91:1. This low of a level has not been seen for some time in Edmonton. Also with a ratio so much below the 4:1 that we need in Edmonton for a neutral or balanced market there is going to be substantial pressure for home valuations to rise.

Buyers should not put off buying a home before house prices go up any further.

* Information source: The Realtors Assc. Of Edmonton as of May 30, 2012.

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This entry was posted on Wednesday, May 30th, 2012 at 3:38 pm and is filed under Economic News, Edmonton, Forecast, News, Real Estate, Real Estate Investing, Real estate news, Statistics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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