October 2019 Market Update: Seasonal Softening
Thu, 21 NovSeasonal softening is the best way to describe October’s activity for the City of Edmonton.
All Residential inventory numbers are down and average pricing is down 1.6% year over year and .7% month over month. We are just tipping into the buyer’s market with 6.1 months of inventory.
Single Family inventory is also down from September. Average pricing is as well, 2.1% year over year and .2% month over month. However we are in a balanced market at 5.5 months of inventory.
Condominium inventory is down slightly from last month as well. Average pricing year over year is up 3.6% and up 4.1% month over month. The pace at which condos are being purchase lags behind other products and we are in a strong buyers market of 7.2 months of inventory.
Lastly, Duplex/Rowhouse inventory is down slightly and average prices as well. Year over year is 1.3% and month over month is 4.1%. But this product is sitting in a balance market position of 4.6 months.
There are still buyers waiting to purchase the right property, so if you have a good product you need to sell, give me a call. As for buyers, there is still a good amount of inventory to choose from, and I can get you in to most places before Christmas!