May 2011’s monthly stats update from the Edmonton Real Estate market:
Our average days on market (50 days) are the lowest that it has been in 4 years. The sales-to-listing ratio is 53% and is the highest it has been in 4 years. Both the days on market and the sale-to-listing ratio are good indicators of markets conditions and both have improved from 4 years ago.
Average Condo Selling Price -2.96% from May 2010
Medium Condo Selling Price +3.64% from May 2010
Average Single Family Home -2.48% from May 2010
Medium Single Family Home + 2.19 from May 2010
The summer is historically a busy time for sellers putting their homes up for sale. Slightly above average levels of inventory for the Edmonton real estate market at 8,180 in the month of May, gives buyers a good selection. With an increase of interest rates scheduled for the end of the summer, there is good chance we will see an increase in buyers getting their purchase wrapped up before the interest rates erode their purchasing power. Source: Edmonton Real Estate Board