The REALTORS Association of Edmonton and the Edmonton Real Estate Blog have posted January statistics. Just like in Calgary seasonally adjusted sales are very weak. In fact, while we would normally expect sales to increase 18% in January they fell by 7%.
Despite slower sales new listings are following the same rate as the 2nd half of 2009 seasonally adjusted.
The seasonally adjusted sales/new listing ratio has decreased to 51% (non-adjusted is 40%). A sales to new listing ratio of 50% indicates a market with no price appreciation.
The weaker market is due to sales not increasing with listings last month.
Below are the charts for sales and listings seasonally adjusted.