Market is Starting to Recover from COVID19 Lockdown
Friday, June 12th, 2020These past few weeks have been challenging to say the least, but here in Edmonton, it feels like we are coming back to the new normal.
May was a month which showed some recovery from April’s hit. The unit sales are on the upswing. Average prices have dropped for some products but not as much as we anticipated.
All Residential sales are down 3% year over year and down only .4% month over month. We are still favouring a buyers market at 7.2 months of inventory.
Single Family has been the most robust retaining average price M/M with a slight uptick of 1.3%, down 3.4% Y/Y. Currently there is a balanced market position with 5.5 months of inventory.
Condos are still taking a big hit. with a decrease of 13.1% Y/Y and down 6.2% M/M. With 11.9 months of inventory condos are still favouring buyers.
Duplex/Rowhouses are down 2.4% Y/Y and down 2.3% M/M. There is a balanced market with 5.9 months of inventory.
With new showing protocols for both buyers and sellers, you can still buy or sell.
Call me for your specific statistical analysis for your neighbourhood. I will provide professional representation with all the protection provided for consumers.
