What is a split market???
Serge: Hi Sam...
Sam: Hi Serge... So Serge what is happening in the Edmonton real estate market.
Serge: Sam I am glad you asked. We have a split market which is something I haven't seen in a long time.
Sam: So what is a split market?
Serge: That's a great question. For a segment of the market we are in a balance and even a seller's market with upward pressure on valuations while in another segment we are in a buyer's market where we are seeing downward pressure on valuation.
Sam: To you expand on that?
Serge: Well Sam currently there were 3,398 single family homes listed for sale in Edmonton proper.
In the previous 30 days we sold 726 single family homes with an average selling price of $434,200…