Edmonton Real Estate Board News Release

I've included part of the news release from our Real Estate Board, including a quote from our President.

“As the current listings become sold or are withdrawn the current inventory will drop. As we move into the spring with a more normal inventory, we expect that prices will again begin to rise slowly," said Carolyn Pratt.

Typically, homes sold more slowly with the average days-on-market up a week to 51 days. The sales-to-listing ratio was higher than October at 45% and total residential volume for November was $397 million; down 10.6% from the same month last year. The total MLS® sales figure for the year to date was $7.9 billion and will be a record setting $8 billion by the end of the year.

Highlights of MLS® activity

November 2007 activity Record for the month* (% change from November 2006)

Total MLS® sales this month 1,373 (-22.90%)
Value of total MLS® sales – month $462 million (-15.30%)
Value of total MLS® sales – year $7.9 billion* (26.80%)
Residential¹ sales this month 1,223 (-32.50%)
Residential average price $325,060* (15.10%)
SFD² average selling price – month $376,267* (12.60%)
SFD median³ selling price $355,000* (10.90%)
Condo average selling price $252,277* (18.70%)

Source: EREB Monthly News Release