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MLS inventory hits 11,0002 ]6 N- M9 ]$ _/ [) A
Record number of homes for sale 21/2 times greater than last June's lineup
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Bill Mah, The Edmonton Journal
/ O$ L, I0 A7 k! L6 b" v8 E3 GPublished: 1:33 am
. G% ~$ w3 }# _2 j7 A& H6 E0 Z- LEDMONTON - A record glut of Edmonton-area homes for sale shows no signs of shrinking soon.4 q& @- x. d5 F$ w- Y& ~9 c
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At the end of May, 11,006 residential properties sat unsold on the Edmonton Multiple Listing Service, according to monthly statistics released Tuesday by the Realtors Association of Edmonton.. L2 v$ @9 {! ~/ c5 c
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That's up 400 homes from a month ago, and 21/2 times the inventory of the same time last year. At the current pace of home sales, that amounts to a six-month supply, twice the normal inventory.; t. Y& U, m# x
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Good news, if you're a buyer. For sellers, it means waiting an average of 53 days for a sale -- up one day from April.
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3 n* f: W! p! a3 G% S2 ^" k& J"It's a great time right now to be purchasing, because the selection has never been better and the interest rates are low," association president Marc Perras said.) a$ @( @ N) L2 b/ z
0 v0 X$ [8 ?0 MPerras predicted the surplus will shrink to about 8,000 by the fall as homes sell or multiple homeowners rent out extra homes instead of trying to sell them.
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In May, 4,294 homes were added to the listings inventory and 1,821 homes sold. May sales were higher than same-month sales in 2003 and 2004, but fell short of May sales for 2005 to 2007, during a real estate boom.. q/ Q' s' S l' k$ E
# e# Q, r" _5 e- ?9 C5 n- PDespite plummeting demand, prices have remained relatively stable.5 F: J2 J! l/ |
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Perras forecasts home prices will rise by an average of four per cent by year's end.3 Q. E" M, N# H; N* Y! J; c
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In May, the average (mean) price for all types of homes rose one per cent from April to $340,499. That price is down about four per cent from a year ago.. F" H' H! y6 l
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The May average selling price for a single-family dwelling was $383,167 -- down about 10 per cent from May last year.
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The median -- middle figure in a list of all sale prices -- selling price for a single-family home in May was $365,000, down 8.75 per cent year-over-year.
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The average selling price for condos was $260,837 in May, down nearly two per cent from the same month last year.1 h7 \( M+ ^- \& W8 o
6 T/ _+ X2 D6 G: `; M9 h) ?Paul Messinger, a University of Alberta marketing professor, said the Edmonton real estate market appears to be following an economic model that says in times of high demand, prices get bid up rapidly.6 r: C' p! |( R$ _
+ u( n) a6 u9 x( L+ \# N$ KPrices are slower to drop when demand falls.9 M# ]! ^4 c% P2 A
' J1 B E$ l( z ]"Now, when we are back closer to historical patterns, we see an adjustment where the slack is taken up not by price but by the inventory," Messinger said.
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( X% S$ t4 K; |) A* t, q% n"For years, Edmonton was one of the best real estate values in the country. Now we are much more in line with the rest of Canada in terms of price."% E, F( c9 ^7 d0 Y$ q* H. ~
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http://www.canada.com/edmontonjo ... e-8b7d-c879e1aba77a
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; f# r, l9 U5 ^' c+ F[ 本帖最后由 circle 于 2008-6-4 08:17 编辑 ] |
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