May Market Stats – Good New/Bad News
Fri, 07 JunGood news, bad news. Which do you want first?
When it comes to the City of Edmonton market stats the good news is absorption rates are moving up. All products except for condos are in a balanced market position. Notably houses are at 4.4 months which is at the low end. Condos are at 6.1 months which is just tipping the balanced to buyer market at .1%.
The bad news is all product categories are down in average prices year over year. Interestingly very close ranging from 3.7% to 4.5%.
More good news is that all product categories are up month over month. All residential is up 2%, houses 2.2%, condos 4.1% and duplex row house 2.2%.
As for the pace at which properties are selling here is another indicator of our current reality. Based on total inventory 1 in 5 properties sold in May. For houses one in 4.5 properties sold. Condos is 1 in 6.25 properties and Duplex Rowhouses one in 4.7 sold.
When it comes to selling, you need to have your property sparkle in order to get it sold! If you want some pre-listing advise on what to do to prepare to sell, call me! I’d be happy to come and take a look and provide some helpful tips.
Whether buying or selling count on me for professional, experienced representation.