It is amazing what a difference a month can make. Six weeks ago the market was still strong and the listings to sales ratio were still below the 4:1 that we need here in Edmonton for a neutral and balanced market.

Checking on the market today I see that we have 2,917 active single family homes listed in Edmonton proper which is only slightly down from last week’s inventory levels.

The big concern is with the number of sales. In the previous 30 days there were 550 single family homes sold. That is a significant drop 612 that we had seen in the previous 30 days last week.

This gives us a listings to sales ratio of 5.30:1. If this trend continues I would not be surprised to see valuation to drop between 5 – 10% in the short term.

Now is a great time to buy and take advantage of this buyers market.

If you have any questions please don't hesitate to give us a call! You can reach us direct at (780) 634-8151

Serge Bourgoin
Founding and Managing Partner of Team Leading Edge
RE/MAX Elite