What does 2011 have in store?  Well, we disagree with the Realtors Association of Edmonton on the impact of mortgage rule changes on the market, and add the impact of interest rate increases. There is still an overall oversupply of listings and that combined with slower demand as a result of higher interest rates & less qualifying ability will reduce demand even further. That will drop prices on average in 2011.

Home owners need to be aware however, that certain types of properties, in certain areas, and in certain price points are in high demand with limited supply. One & two bedroom condos in the Downtown and Oliver areas under $200,000 are in high demand, as are houses under $375,000 in the South and West areas of Edmonton. Home owners and buyers alike need to be aware of local neighbourhood specific market knowledge that can be provided by your Preferred Group Realtor when considering any real estate moves. If you are considering a move this year, act fast! The best timing this year to sell is immediately, and to purchase the best selection and deals will likely be mid summer.

Preferred Group with RE/MAX River City
Contact us at 780-701-2626 and ask for John Carter or Anu Khullar, or email us here.