I am please to see that the number of listings on the market is dropping. As of today there is 5604 active residential listings in Edmonton. Also today there were 350 listings that came off the market.
If we can see the number of listings at around 4,000 with our current trend of approximately 1,000 sales per month we might see the market level out and become a balanced market. As long as we see a ratio of more than 4 listings for every sales then we should expect price to possibly continue to drop.
At this time I don't think we are going to see the increase in valuations in the new year that a lot of people are hoping for. We are going to have to watch the ratio of listings/sales to see what we can expect.
To view and search all MLS listed homes visit: www.TeamLeadingEdge.ca
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