No we aren’t breaking any records but I know I’m sounding a bit like a broken record! (Now there’s an expression out of my youth!) Not much has changed with respect to the residential market in Edmonton.
Price averages are down year over year in all categories with the exception of condos. But they are up only .3%. All residential sales are down only 2.5% year over year which is a better stat than May which was 4.1%.
As for month over month all product price average remained flat and an increase of .2%. Single family average decreased over May by 2.2%. Condos increased 2.2% over May as well. Duplex/Rowhouses stayed flat at .7% increase.
Again, and this is where I sound like a broken record…We are sitting in a balanced position in all categories except condos. They are sitting on 6.9 months of inventory which is the lowest we have seen in over a year OR more!
So the two bright spots in this month’s numbers are the condo market is shrinking. And balanced markets are a great time to buy or sell, as there is no volatility to be concerned about long term.
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