The whole world felt the whirlwind of October come and go with economic turmoil the likes of
which many haven’t seen since the early ’80s. To add to the unrest there was election fever in Canada and the U.S.
and a plummet in the price of oil and the Canadian dollar. Despite all this, Edmonton real estate remains surefooted,
with sales activity consistent with yearly averages.
New listings were at 256 with sales of 155 up slightly from 146 in 2007, giving a sales-to-listings
ratio of 61%, which is superior to any other system or service in Canada. Average days on the market is sitting at 64
for ComFree over all, and only 38 days for those pricing within their appraisal range.
As of June 5, 2008 each listing within the greater Edmonton area receives an independent licensed
appraisal for FREE with their ComFree listing. This has helped sellers determine a fair asking price and has proved
superior to the free market evaluation offered by real estate agents. ComFree sellers also make fewer price changes
because their starting price is more inline with current market conditions.
Visit www.comfree.com or call 780-444-3131
for more details.
Current inventory of homes on ComFree is 1781 listings, as the overall inventory moves toward normal
levels, which should encourage sellers to hang on a little longer and their property will eventually sell.
Curiously, those who aren’t selling in this market because they have decided to pull their homes off the market have
done so with the intention of selling in the spring. But this could lead to a flood of houses hitting the market again
in March and April. This increase in spring competition could mean you are better to try to sell today at the right price
than be mixed in with the thousands who plan to wait
