Edmonton Real Estate Blog

This has been a year of ups and downs as we saw house values increase in value from January until the beginning of June. We did however see valuations drop about 10% since that time giving back any gains that we might have made in the beginning of the New Year.

The good news is that the listing to sales ratio has drastically improved in the last month. As of today December 13th, 2010 there are 2265 single family homes for sale in Edmonton proper. In the past 30 days there have been 525 single family homes sold in Edmonton proper.

This would give us a listings to sales ratio of 4.31:1. That is a significant improvement over the ratio hovering around the 6:1 that we saw last month and is basically at the 4:1 ratio that we need for a balanced or neutral market.

The window of opportunity is closing for people thinking of buying. With the oil and gas industry going so strong right now I am fully expecting this ratio to drop over the next 3 months and we will start seeing valuations increase.

If you don’t buy now you will probably have to pay more money for your next home come the New Year.

That is my last two cents until the New Year. I would like to wish everyone a Happy Holidays and a prosperous New Year.

 Make sure to read our BLOG every week to see how the trend changes.