Mid June 2009 Edmonton Real Estate Market Market update

Sales continue to be strong. Currently we are on pace to sell over 2300 homes. That is even stronger than May (2161). So, unless things tailoff, we may beat May's numbers. As for listing inventory, we are currently sitting at 7562 properties for sale. The number of new listings is keeping the inventory level constant and close to what we ended May with (7435 properties). I expect the inventory level to drop to close to 7000 by the end of the month. This follows seasonal trends of the listing inventory peaking in the month of May.

The market is very brisk under $300,000. In above average areas the market is also very strong up to $400,000. Multiple offers are fairly common, but it is rare to see unconditional offers. Good well priced properties aren't lasting long, on average they are going pending in the first week on the market. I'm working with a couple buyers in the lower price ranges tonight, and hopefully we can find something to offer on where we are not in competition with other buyers.