Interesting times in the Edmonton real estate market for sure... sales of all property types were well ahead of the past few years, and while single-family prices were up, condo prices are still lagging due to higher than normal supply. The biggest real estate related news this month comes from the Bank of Canada, which gave a surprise warning last week that rates are going to rise significantly next year. We often see an increase in demand before rate hikes, followed, of course, by lower demand. This could move the spring market earlier next year since the hikes will begin in April.
Thanks Sara! Any predictions on next year?Posted by Tom on Friday, November 5th, 2021 at 7:46am
Compared to other Canadian cities, a total increase of 19% in average house prices over 10 years (average 1.9% per year) is pitiful.Posted by GM on Friday, November 19th, 2021 at 6:31am