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ComFree Statistics - November 2007
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5 n1 t8 _ W4 R' N8 H2007 November Year to Date
. L: R6 y4 F: aNew Listings 356 8153
+ _3 N4 L6 ~" q0 o/ [+ G7 R( |Sales (units) 124 3707 ) I/ Z$ U7 T; w0 R) E( U% w X9 o
Value of Sales $44.8 M $1.30 B & Z. K: }; q9 _
Ave. Days on Market 59 3 P: D7 _5 N- [) N) F" z5 I
Average Sale (single family) $388,400 . U0 Y. q! T2 v) h
Average Sale (condo) $258,200 ; z: f4 z. R# P( S( T
Current Inventory 3060
y2 W8 G% H3 i9 k! ^& n l) F) PCommission Saved* $1.65 M* Total: $54.9 M*
$ Q% l8 z3 R; E X* \*Based on a 7%/3% commission split $ G8 B X1 n) r* G/ q& x
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Inventory Finally on the Decline& \8 H& O2 }2 V8 d( a& H( p* K) E( B
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For two consecutive months, housing inventory in Edmonton has been on the decline. Inventory levels had been on the rise since January and hit a record high in September with over 13,000 homes for sale in the Edmonton area. At the end of November, ComFree's inventory of 3060 listings contributes to Edmonton's total inventory of 11,727 listings.
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After an exciting 2006, with record low inventories and record high prices, anyone following Edmonton's real estate market wondered what would be the ceiling? Where would things stop - or would they? 2007 started strong, but inventory levels were on a steady climb. The law of supply and demand meant that increased inventory would trigger a decrease in prices. Thus, 2007 saw a price correction as market forces worked to find equilibrium.) C$ N- f% G$ I6 G. k* d& ]+ T8 n
# X! G3 \. s! k"What we are learning from many of our clients is that they are changing their mind about selling. Many are deciding to hold onto the property, rent it out or simply wait until a later date to sell. They are waiting to see what 2008 looks like for the Edmonton real estate market," says Erin Holowach, President.
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"With Edmonton continuing to lead the nation in economic growth, homeowners can rest assured that Edmonton's real estate outlook is strong." Erin believes, "The market is going through a correction and with spring we expect a more balanced market. A more balanced market will allow both buyers and sellers to take the necessary time to be successful in any real estate transaction."/ H% @. w: ?0 j& P' ]0 j) ^
* W/ z! X; O6 o- Erin Holowach -
& J! O& l! |( Q& N) YPresident, ComFree Commission Free Realty |
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发表于 2007-12-5 12:03
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发表于 2007-12-6 15:38
