Seller’s Market June 2020
Sat, 04 JulI think you’re going to need to be sitting down when you read this short email about City of Edmonton June 2020 market stats.
We are in a Seller’s market for 2 product categories for this past month! This is a first time in many years since we have seen these kind of numbers.
Our overall residential sales are sitting in a balanced position but just about in a Seller’s position with 4.2 months of inventory left if we are selling at our current rate. Average price dropped 2.9% year over year and is up .2% month over month.
The Single Family products have had marginal change in average pricing Y/Y and M/M is less than 1%. But properties have been bought up and there is only 3.3 months of inventory currently putting sellers in a strong negotiation position.
As for condos, even these numbers are improving. Average price is down 9.3% Y/Y but up 5.7% M/M. There is 6.4 months of inventory remaining and this is almost sitting in a balance position.
Duplex and Rowhouses have seen a drop of 2.6% Y/Y and and slight increase M/M of .6%. They are also sitting in a Seller’s market position with only 3.5 months of inventory.p.
I have the latest information and data and can provide you with the answers and advice you need. So, when you have questions, please feel free to reach out to me. I’m happy to help.
All About You. Really.