With the Listings to Sales Ratio or Absorption rate of single family homes crossing significantly over the 4.0:1 ratio or neutral market threshold to the current 5.17:1, we are now in a strong buyer’s market in Edmonton. This will also put significant downward pressure on valuations which is not to be confused with average selling price.
Average selling price is just an average of all the sales, where valuation is how much home you get for your dollar.
So what does this all mean? Well what this means is that this a great opportunity for buyers to now go out and negotiate some really good deals. So if you are thinking about buying a home in Edmonton now seems like a really good time.
If you are thinking of buying or selling a home contact Team Leading Edge to get Leading Edge advice! 780-634-8151
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