The Edmonton Market Swings Back to a Seller’s Market!

Just like I have been telling you would happen the market has changed from a buyer’s market to a seller’s market.

As of today there were 2,126 single family homes listed on the Multiple Listing System (MLS ®) in Edmonton proper. That is an increase of 92 listings from last weeks inventory level of 2,034

More importantly there was 535 homes sold on the Multiple Listing System (MLS ®) in Edmonton proper in the previous 30 days. That is an increase of  106 sales from last week’s number of 429 sales.

This gives us a listing to sales ratio of 3.97:1 which is a significant drop from las weeks and is now marginally below the 4:1 ratio that is the benchmark for a neutral and balanced market.

I say we are swinging over to a seller’s market beause I expect that ratio to continue to drop even lower in the next few weeks and we are going to see upward pressure on home valuations.

If you are thinking of buying then the sooner you make that move the better price that you will get.  With all that is driving the Edmonton economy at this time I continue to expect the Edmonton Real Estate market to continue to grow stronger.

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This entry was posted on Wednesday, February 23rd, 2011 at 5:02 pm and is filed under Economic News, Forecast, 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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