October 2019 Market Update: Seasonal Softening
Seasonal softening is the best way to describe October’s activity for the City of Edmonton.
All Residential inventory numbers are down and average pricing is down 1.6% year over year and .7% month over month. We are just tipping into the buyer’s market with 6.1 months of inventory.
Single Family inventory is also down from September. Average pricing is as well, 2.1% year over year and .2% month over month. However we are in a balanced market at 5.5 months of inventory.
Condominium inventory is down slightly from last month as well. Average pricing year over year is up 3.6% and up 4.1% month over month. The pace at which condos are being purchase lags behind other products and we are in a strong buyers market of 7.2 months of inventory.
Lastly, Duplex/Rowhouse inventory is down slightly and average prices as well. Year over year is 1.3% and month over month is 4.1%. But this product is sitting in a balance market position of 4.6 months.
There are still buyers waiting to purchase the right property, so if you have a good product you need to sell, give me a call. As for buyers, there is still a good amount of inventory to choose from, and I can get you in to most places before Christmas!
