Inventory levels have stayed lower for 2 consecutive months. If this pattern continues, we should see a turnaround later this year.
Month End Inventory:
Over the last 2 years we have witnessed a large excess of inventory. This is no longer the case. At the end of March 2019 there were only 2150 condo units for sale across Edmonton compared to over 2500 last year.
251 condos sold in March 2019 compared to 290 units last year, a difference of only 39 units. We don’t see this as significant.
Days on Market:
Condo buyers in March 2019 continued to act with confidence and contracted in 74 days compared to 70 days in March 2018. Again, we don’t this as significant.