“As we head into the spring buying season with stable prices, coupled with increases in unit sales and seasonally-appropriate inventory levels, it seems like a positive sign for our market,” says James Mabey, REALTORS® Association of Edmonton Chair.Here's our snapshot on the real estate market in the Greater Edmonton area, showing all the arrows pointing in the direction we've been hoping to see for a couple of years, except one - average price. The average price remained quite stable while inventory soared and sales slumped ever since oil prices tanked, so even if demand continues to rise, I don't expect to see prices follow suit for quite some time.
The first two months in the bag, and it looks exactly as expected- stable. There's still plenty of listings, and inventory is still quite high, but sales seem to be creeping up on a historical sales:new listings ratio. So long as oil prices remain above $45, we're through the worst of it. I am going to make a new prediction though: Spring is going to be busier than usual (but not crazy by any means) due to people trying to catch the final days of the lowest rates in history. Money will still be cheap, but the nearly-free is ending and there will be a recognition that now is the time to get in at cheap rates. Prices, however, will remain very flat due to high inventory, healthy listings, and continued weakness in Alberta's economy and consumer confidence.Posted by Trev on Thursday, March 2nd, 2017 at 8:33pm
Worst investment since 2007-2008, considering inflation, taxes and maintenance.... Vancouver and Toronto rock...Posted by Bubu on Friday, March 3rd, 2017 at 1:14am