So the Realtor’s Association of Edmonton released their monthly report yesterday emphasizing the strong sales in July (just like we did on Friday!). The official release always fills in a few missing pieces of the puzzle and although it took me a bit longer than usual (we were working until 1am last night) I’ve got it together now.
So, looks like inventory is on a downward trend, lets hope it continues that way:
The price drop in July was felt in the condos more than in single family homes. Condo prices were down 3.5% from June with slower than normal sales, and homes were down .5% with stronger than normal sales.
As you can see, demand has been quite steady since April, and don’t expect this to change until September, when sales tend to drop:
I posted this chart on Friday, but the inventory was adjusted so I thought I’d post it again with the final numbers.
All in all it’s been very busy for the past week and a half. Perhaps the buyers are coming back from sitting on the side lines? Maybe it’s just a fluke but a number of Realtors I’ve talked to have noticed an uptick.
