Is it just me or did June just fly right by? It sure was a busy month for us. Anyway, I’ve put together our market trend report which shows some interesting trends. First, and most obvious, the cheaper the property the faster it sells, and the closer to list price it sells:
Lets dig a little deeper though… Compared to last month, the number of sales are down, and the number of listings are up….way up, especially in the higher price ranges!
List price to sale price ratio is very slightly down across the board, and number of days on market is longer in all but one price range. To be honest, I thought the number of days on market would be even higher for June until I realized, all those listings that haven’t sold yet aren’t included in the days on market tally since they are still on the market. So, I would expect to see a larger increase for July’s days on market average.
Overall this looks like a much more "normal" market than what we’ve seen of late, and it looks like we are in a buyers market. It is definitely the best time to buy that we’ve seen in the past two years. These numbers are all preliminary though, because of the way sales are reported and because of the long weekend it could be Wednesday or Thursday before all of June’s sales. We’ll have to wait for the press release from the Edmonton real estate board before we know the full picture. Also keep in mind the market trend report is only for Edmonton proper, while the stats from the board include the entire area.
