Edmonton Real Estate Market update Mid October 2010

Well things are getting a bit better. The sales pace is picking up a little bit. Last week we were on pace to sell only 943 homes, now we are on pace to sell 1000 (there were 452 sales in the last 14 days in the Metro Edmonton area). Another positive development is that the new listings pace has slowed. We were on pace last week to list 2800 homes this month, this week we are on pace to only list 2480 (1120 listings in the last 14 days). This is still a high number of new listings, but hopefully the slowdown continues. There are 8035 properties for sale as of October 14, 2010. 60% of this inventory is single family, 30% are condos, and the balance is made up of duplexes and other (mobiles, rowhouses etc).
I have noticed more offers coming in on my listings in the past 7 days, and it definitely "feels" busier out there. Have a great weekend!