 鲜花( 0)  鸡蛋( 0)
|
MLS inventory hits 11,000
' g2 |5 |: c, n8 \; _6 w% v- fRecord number of homes for sale 21/2 times greater than last June's lineup& ]& Y2 _3 {1 u p3 o+ D6 H
4 [. a) ?4 P% W- Y- jBill Mah, The Edmonton Journal$ k' w3 @! x1 Z8 w
Published: 1:33 am( u& ^$ d6 k6 o ~" W
EDMONTON - A record glut of Edmonton-area homes for sale shows no signs of shrinking soon.
& v$ S! o. h8 ^, T. `6 _7 S, B: g! v D9 O: g* ?( W1 B
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.- ?; C0 L8 b8 H5 w; @% U2 S: y
9 | n/ G& O8 Q0 AThat'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.
/ ~/ S. ^8 _* n7 C7 k+ N! @
, w1 B) H1 Z0 {8 ZGood news, if you're a buyer. For sellers, it means waiting an average of 53 days for a sale -- up one day from April.
- `, }7 e7 x/ S5 L k. Y% b
( I8 G2 m% a) g- z* ^0 [( u% F"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.
6 h' O2 v8 m0 Z; s- w" O
- P9 t0 g/ \: C: x9 s3 o+ vPerras 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.
) u% z. x$ p2 }" {; `) ~6 e$ U
3 j! s z: ]8 k5 p+ YIn 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.
) D( F4 W5 C9 c- o. E: l& s& U; D4 {! O/ d. P
Despite plummeting demand, prices have remained relatively stable.+ M( N# J; Z0 T3 v
% @8 Y# Q( M; u$ \* @
Perras forecasts home prices will rise by an average of four per cent by year's end.
; v3 U5 J$ B3 ?. P1 A% c) Z% y& u' b+ G" o
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.
^, F7 e7 l4 n0 m- r
: \! ]# g% P3 j7 PThe May average selling price for a single-family dwelling was $383,167 -- down about 10 per cent from May last year.
$ v- k$ ?" N* N9 Z4 M' x3 d }2 L2 R# K, D& U$ x( o+ M
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., K1 b3 u2 q; S1 U
+ j' q* k# B# JThe average selling price for condos was $260,837 in May, down nearly two per cent from the same month last year.2 O4 N- d1 C8 W* X. z
$ t! ^$ ]% O8 ?0 iPaul 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.
, Z2 P0 q2 W& d! t4 l" w9 g& o( @) |0 p9 R k
Prices are slower to drop when demand falls.
0 X+ C. e1 k/ U* }/ m9 a* [/ V: \0 u& }2 o: V$ g* r; i# ]- c6 C/ q
"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.& s2 ^" n& D/ [- A5 n/ i
) c" o; e3 V% |& R* R! D6 x
"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."
8 k, w+ p; ~ i! f# N' m
2 B. m7 h |- z# F9 K$ J5 T) m5 Ohttp://www.canada.com/edmontonjo ... e-8b7d-c879e1aba77a
8 C3 P0 L5 c% K ]; I0 J9 c) U: w9 `' i! l# U
[ 本帖最后由 circle 于 2008-6-4 08:17 编辑 ] |
|