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MLS inventory hits 11,000* `4 i0 Z3 ^# U9 p3 H" ?
Record number of homes for sale 21/2 times greater than last June's lineup; F) i& Z4 V" }3 H' `6 r
" {' n! q; c- d1 h/ Q5 H$ kBill Mah, The Edmonton Journal9 J1 O+ K# O z9 ?) P V
Published: 1:33 am
) k" d+ g5 L: c. Z# KEDMONTON - A record glut of Edmonton-area homes for sale shows no signs of shrinking soon.7 ~' |' D5 D+ K5 A1 f3 x' u3 s
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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., J( w5 J! W- l' U$ V+ s
' t7 `% @5 D( _& G" wThat'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.7 ]/ m7 N! ?8 ]5 [
, y4 z9 M! f- H9 H& e) O4 fGood 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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4 }9 ?9 b. g) L' S/ Z- c! N"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.
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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.
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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.2 o) R/ p! F$ L; [$ ?& I$ g
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Despite plummeting demand, prices have remained relatively stable.
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Perras forecasts home prices will rise by an average of four per cent by year's end.
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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.
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+ W8 X) W I% E) FThe May average selling price for a single-family dwelling was $383,167 -- down about 10 per cent from May last year.# ?2 O: b9 t2 ~! [4 ~$ x+ i; m
* `/ U4 u# r' C6 c+ K0 D1 Z7 Y4 c) \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. c4 j" ~1 T# z! x" {
7 v% f# q4 S% l' [0 B" wThe average selling price for condos was $260,837 in May, down nearly two per cent from the same month last year.0 z3 y1 O8 P/ i7 k9 C# E" p3 y
6 g+ D) f1 @1 d2 Y2 r/ vPaul Messinger, a University of Alberta marketing professor, said the Edmonton real estate market appears to be following an economic model that says in times of high demand, prices get bid up rapidly.# o% W8 R' W, W) _% n! M( W$ L
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Prices are slower to drop when demand falls." b8 B! W2 a8 ]6 `% }
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"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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"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."5 `2 U5 B9 P/ F1 L
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http://www.canada.com/edmontonjo ... e-8b7d-c879e1aba77a: T; o9 d' s4 L
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[ 本帖最后由 circle 于 2008-6-4 08:17 编辑 ] |
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