Market Continues To Soften
Tuesday, August 13th, 2019The City of Edmonton statistics are showing us it has been another month of softening prices. Inventory numbers are swaying us toward a balanced market.
All product categories were down from July 2018 averages; All Residential 3.2%, Single Family 3.1%, Condos 11.8% and Duplex Rowhouses down 2.5%.
June 2019 to July 2019 showed an average drop by 1.4% with All Residential sales. Single family was up on average of 1.2%, while condos took another hit of 8.1%, Duplex/Rowhouses stayed fairly flat at a decrease of .3%.
With the exception of condos, all other categories are showing a balanced market position, with months of inventory ranging from 4.6-5.5. Condos again are favoring buyers with 6.9 months of inventory.
Some pockets of the market are showing a more positive outlook. Call me for a free professional consultation, if you are thinking of buying or selling.
