Edmonton Community Reviews

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September sales reached a new record high in the city. While the gains reported over the past three months have not offset pullbacks occurring earlier in the year, year-to date sales remain nearly 16 per cent higher than long-term trends. At the same time new listings reported further pullbacks this month and inventories trended down compared to levels seen earlier in the year and levels reported last year. Adjustments to both inventory levels and sales caused the months of supply to fall below three months in September. Both semi-detached and row style properties are facing the tightest conditions in the city. However, there also has been a noticeable tightening in the relatively affordable apartment condominium sector that saw the months of supply go from nearly eight months last September to just under four months this year. With a steady decline in the months of supply since the start of the year, we have seen some shifts in home prices. While prices remain below the peak levels reported last year, recent adjustments have narrowed the spread. On average this year, year-to-date benchmark prices are six per cent lower than last years levels.