The Edmonton Real Estate Market is Always Changing!
That is one thing we can always depend on is the market to continually change.
Only last month I was telling you that based on the listings to sales ratio that we had upward pressure on valuations. Well that is now changed.
As of today May 15, 2011 there are 2,945 single family dwellings for sale in Edmonton proper. That is an increase from last month. In the past 30 days there were 733 single family dwellings sold. This would give us a listing to sales ratio of 4.02:1. A 4:1 ratio is a neutral or balanced market with valuations remaining stable.
Many people were waiting for the snow the melt and spring to finally arrive to put their homes up for sales which explains the increase in inventory that we currently have and why the market has balanced out.
But in my opinion over the next few weeks as buyer start to eat away at the current inventory level we might see ourselves back in a seller’s market again soon. There is too much positive economic drive in the Edmonton area for this not to happen.
We also know that in the next few months we are all expecting some interest rate hikes. Now is a perfect time to buy before valuations go up and interest go up. Call me today to help you find your dream home while the window of opportunity is open.
Tags: edmonton real estate, edmonton real estate statistics, Real estate news
