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Anu Khullar - RE/MAX River City
282 Calgary Trail NW, Edmonton, Alberta
P: 780-439-7000
F: 866-293-5424

Wednesday, June 23, 2010 - June Preferred Market Interpretation

We wish we were wrong… we predicted an early peaking sales year in previous newsletters this year. And although it’s nice to be able to provide an accurate prediction for our clients to make decisions based on, it is also not great news for the Edmonton Real Estate market overall. That said, houses under $400,000 and 2 bedroom condos or 3 bedroom townhouses under $250,000 are still selling strong. There is a significant variance in the market of properties selling well with high demand, and most of the inventory being overpriced or not in desirable price ranges for the buyers looking.

Return of a buyer’s market… we should have a maximum of about 6000 listing for a balance market in summer in Edmonton, and we have over 8000. It will be a buyer’s market for the balance of the year as we currently have over 5 months of inventory and fall sales volume historically falls. This combined with interest rate increases, and mortgage rule changes will have an impact on demand.

It’s now or next year!! If you are considering selling, then do it NOW; the sooner the better. If you are on the fence still about buying or moving, don’t wait. This is perhaps the best buying time we’ve seen in many years with a ‘perfect storm’ of circumstances: lots of inventory to choose from, historically low interest rates but on the rise in the future, steady housing prices, and a generally strong and recovering economy with positive future outlook. Contact us today to discuss your specific situation and we can offer you more detailed advice to “make a smart move” for you!

posted in News at Wed, 23 Jun 2010 22:34:05 +0000

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