๐๐๐ญ๐ฎ๐ซ๐ง ๐ญ๐จ ๐๐จ๐ซ๐ฆ๐๐ฅ ๐๐จ๐ซ ๐ญ๐ก๐ ๐๐๐ฆ๐จ๐ง๐ญ๐จ๐ง ๐๐๐๐ฅ ๐๐ฌ๐ญ๐๐ญ๐ ๐๐๐ซ๐ค๐๐ญ
Mid-Month Market Update and the Bank of Canada Rate Announcement
The first half of 2022 in brought:
1) a red hot real estate market from February to April
2) a final push to lock in low interest rates in May into June
3) a return to a balanced market, tipping to a buyer’s market
My prediction for the second half of 2022 is:
– prices will soften
– supply will increase
– the market will feel more like what we’ve been used to in the last few years
๐๐๐ ๐๐๐๐๐๐จ๐ฉ ๐ค๐ฅ๐ฅ๐ค๐ง๐ฉ๐ช๐ฃ๐๐ฉ๐ฎ ๐๐ค๐ง ๐๐ช๐ฎ๐๐ง๐จ is anything central. Downtown, Oliver, and the U of A area essentially went “on sale” with covid shut downs, and work from home. Now that the Universities are open, work from the office is back, and fuel prices are sky high, I am predicting the core will be sought after once more, so these lower prices won’t last.
Sellers will see major opportunity for finished, accurately priced, and beautifully staged homes. Because cash will be tight for buyers, the sellers who take the time to finish the work in their homes – from furnace servicing to roof replacement – will have the upper hand.
If you are looking to buy or sell, we are here for you!
Your Realtor,Sara Kalke & Ferdinand Maingat
RE/MAX Real Estate
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Edmonton Market Data, The Numbers – June 2022 from 2021
๐๐๐๐ซ ๐๐ฏ๐๐ซ ๐๐๐๐ซ
PricesDetached Houses – Up 8.8%
Attached Homes (Townhomes & Duplexes) – Up 8.0%
Condos – Up 0.9%
Supply – Total Inventory – Down 3.5%
Demand – Total # of Sales – Down 4.6%