Edmonton Inventory of Homes for Sale is Dropping!
According to the Realtor Association of Edmonton daily activity report published today, the number of residential homes for sale is now below 6,000! This is good news for the market and leads me to anticipate a very busy spring next year. Today’s report shows an inventory of just 5,981 homes for sale – this is lower than any month-end inventory number reported by the Realtor Association of Edmonton in over two years! The low inventory point was July 2006 at just 1,856 properties available. This climbed to 4,485 in May 2007 and then leaped up to 6,367 in June and climbed steadily from there to a peak of 11,006 in May 2008.
There were over 3,000 homes added to the market in October 2008 compared to October 2009 so far, where there have been less than 2,000 new listings. Sales in October 2008 were very close to current levels (1,251 Oct 2008 vs 1,269 so far in Oct/09).
This indicates an overall tightening of the market.
Fewer homes are coming up for sale. Buyer activity is good. Inventory is coming down.
SO WHAT DOES THIS MEAN FOR YOU…?
You might want to think about purchasing sooner rather than later…
« Do I need mortgage insurance??? | Home | Local Realtors High on Hugs and Pie! »
Comments are closed.