Ending October beginning Novermber

 

Even while the economy is ebbing and flowing in a sea of uncertainty, right here in Edmonton Alberta the average price of a single family home stood its ground and made some headway, creeping up from October's reported average price of $362,097 to Novembers reported price of $363,274 (a .33% increase).

The condo market that has been fairly stable, experienced its largest single month drop this year resulting in condo prices down by 5.8% with an average price of $237,590 during October.

As it is now for every 10 properties listed 4 have sold resulting in a 40% sales-to-listing ratio - which denotes that we are still in a buyers market. 

Housing starts are dramatically down this year.  Lot prices are still high resulting in builders pulling back.  Now is the time to buy a new home.  Once this supply runs out there will be a shortage in about 6 months.

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