 鲜花( 0)  鸡蛋( 0)
|
MLS inventory hits 11,0008 G; y1 R" J; y& Q1 ^ u
Record number of homes for sale 21/2 times greater than last June's lineup+ x/ h# z. A# [% K- C x/ z$ @
: E& p5 V% U$ d. eBill Mah, The Edmonton Journal
/ y; ^9 k: D* ~, v5 o* p; b$ q& e0 `Published: 1:33 am
5 p9 f3 J" ^& F" V4 [1 R0 q, ^EDMONTON - A record glut of Edmonton-area homes for sale shows no signs of shrinking soon.
: w/ t/ A$ c5 G9 N' ]. |: ?! }8 \, Q& P3 t$ |6 [5 i
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.
8 I" g! W0 C) e4 Y! P, Q) O) v8 Y1 S% t h
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.3 S1 K. l% T3 o6 D8 {$ Y
* C7 j4 \. X# D6 O o
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.
! D d3 n+ O% q7 |
' j ~+ f4 M8 ]( @"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.
- h6 D: \9 R2 g6 j/ i4 @5 n3 g& u+ N6 N J7 A F* N
Perras 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.
7 R/ z/ m' w$ _$ f# ~9 o" K! W2 d- \
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.5 u' L' J# D8 }8 |! ~4 e
) j1 P3 @/ t6 g) ]& A6 {Despite plummeting demand, prices have remained relatively stable.
" {9 l! k' j/ r# H9 Z* w% c$ o6 ^$ Z& y9 T8 ~: ?* t
Perras forecasts home prices will rise by an average of four per cent by year's end.' l0 H( _/ _" x2 f" n4 m- o
$ z3 d3 c: y- M1 |In May, the average (mean) price for all types of homes rose one per cent from April to $340,499. That price is down about four per cent from a year ago.$ A+ G5 \) C1 [2 Z$ J% q* z0 F
9 S3 H5 z/ `2 D* qThe May average selling price for a single-family dwelling was $383,167 -- down about 10 per cent from May last year." Q5 ]( ^" I0 Y: T3 s7 K
: o2 P5 j8 \8 s
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.4 H& \. `. o v( d3 A
$ [$ ~0 {1 o6 B/ ^" J) F$ x
The average selling price for condos was $260,837 in May, down nearly two per cent from the same month last year.# B- X% |5 O0 c: z5 r
$ {/ @" \* o4 q" Q( X
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.# [8 v& D9 v4 r& F: y
0 O- v* j+ {3 mPrices are slower to drop when demand falls., S, {8 x0 F& T
0 | W9 v: @, F! O) h8 x- i7 A. ~
"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.
$ N: \" n2 |: |' U) [& x1 }" l c- ?: H
"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."
: y$ n; L |4 A) [9 i% u# W5 m6 L' N) X* P( G2 \7 g. V
http://www.canada.com/edmontonjo ... e-8b7d-c879e1aba77a3 S1 b3 T" c. I! m3 D2 B
4 C$ y6 N4 [7 W# b( Z( v1 M
[ 本帖最后由 circle 于 2008-6-4 08:17 编辑 ] |
|