Well 2010 started out soft, it definitely didn't start with a bang. The sales were just above last years' numbers. The major points are here:
1) JANUARY sales were low (884). We did exceed the 730 sold in January 2009.
2) The listing Inventory level is much lower than last year. Our current inventory is 4864 properties, in Jan 2009 the level was 6573.
3) Months of inventory has moved up to 5.5 (still a sellers market, as it is under 6)
4) SFD Prices Flat, CONDOS prices are falling
5) Days on market average was 57, up from 50 in December 2009. But, much better than Jan 2009 (68 days on market).
I've attached a graph showing the price of a single family dwelling in the metro Edmonton area over the last 2 years. As you can see, we bounced up from the bottom in Feb 2009, and have basically been moving sideways over the last few months.
1) JANUARY sales were low (884). We did exceed the 730 sold in January 2009.
2) The listing Inventory level is much lower than last year. Our current inventory is 4864 properties, in Jan 2009 the level was 6573.
3) Months of inventory has moved up to 5.5 (still a sellers market, as it is under 6)
4) SFD Prices Flat, CONDOS prices are falling
5) Days on market average was 57, up from 50 in December 2009. But, much better than Jan 2009 (68 days on market).
I've attached a graph showing the price of a single family dwelling in the metro Edmonton area over the last 2 years. As you can see, we bounced up from the bottom in Feb 2009, and have basically been moving sideways over the last few months.
