Single family home and condo prices and sales in Edmonton have exceeded everyone's expectations this year (except perhaps for some homeowners trying to sell their home). Single family home prices are 1.5% higher this year than they were last year at this time, and condo prices are almost exactly the same ($50 different).
Residential sales were slightly above average in November, topping off at 1261 sales, behind only 2005 and 2006.
Inventory is continuing its seasonal decline. We've seen homes coming off the market, with the intention of re-listing in the new year. Some people find themselves very busy at this time of year and don't want the added stress of keeping their home in showing condition. It will be interesting to see how quickly inventory ramps up in the new year.
The number of new listings are right in the normal range:
Tomorrow we will send out our subscriber only bonus with additional stats and analysis on what is going to happen in the Edmonton real estate market in the new year. Subscribe today and don't miss out!
