The pace of the market is changing, and many people are starting to wonder if the Edmonton and area market is favouring buyers or sellers at this time i.e., June 2022.
The best metric for gauging this question is supply.
In general, if the number of homes or condos for sale would run out in less than 4 months, that is considered a seller’s market.
When the supply is between 4 and 6 months that is a balanced market and when inventory exceeds 6 months that is considered a buyer’s market.
How do we calculate supply? We take the inventory number at the start of the month and divide the number of homes sold in that month into it. The resulting number is the months of supply.
So, for example in Edmonton at the beginning of May there was 1893…
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