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Well the listing inventory contiunes to rise. Currently on the Edmonton Real Estate Board we have 14,342 properties listed. Which consist of 7,112 residential homes, 3,699 condominiums and 1,436 acreages.
In Edmonton proper we have 7,001 active listings. In the last 30 days we have had 1,134 sales. That give us a listings to sales ratio of 6.17:1. With that high of a ratio I will expect the see continued downward pressure still on home valuations.
We are still expecting the market to stabilize and even possibly see an increase in valuations before the end of the year.
The current market trend makes our current situation a perfect for a buyer to pick up tremendous deals before we see the market turn around.
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