The Fall Edmontont Real Estate Market Softening

Well it is good to be back from my extende holiday from China. However I am a little sad to see how the market has changed since I left back in July. The market has soften significantly and has me somewhat concerned.

As of this morning there were 3,256 single family dwellings for sale in Edmonton proper on the Edmonton Multiple Listing Service. That is in itself is not a bad number and shows healthy inventory levels.

What has me more concerned is the number of sales that we have had in the last 30 days which is 646 single family dwellings that have sold in Edmonton proper.

This gives us a listing to sales ratio of 5.04:1 which is higher than the 4:1 needed in Edmonton for a neutral market. This indicates to me that we are going to see some downward pressure on valuations in the incoming weeks.

If you have a home listed currently you are going to want to make sure that you are very competitively priced if you want to sell.

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This entry was posted on Monday, September 26th, 2011 at 10:40 am and is filed under Economic News, Edmonton Real Estate Forecast, Real Estate, 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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