As 2010 comes to a close, we can reflect on the predictions we made at the beginning of 2010 and look ahead at what 2011 has in store for us in Edmonton’s real estate market.
As above, house prices were down 2.5% at the close of December, and condo prices were down 7.2% year over year. Last January we predicted “That said I believe our market is poised for a 3-4% overall appreciation in prices with an increase in sales volume over 2009 of anywhere from 4-8%”. Although we were off on the average price increase at year end, and volume of transaction, we did accurately predict for many of our clients the unseasonably early market peak in April/May. That allowed them to sell at a time in the year when prices and demand for home sales was the strongest. 
Many factors influence any real estate market, and although signs are again pointing to the positive, home owner’s and the over 3000 Realtors in Edmonton dictate the supply chain which has the largest effect on pricing.
Watch for our prediction coming out in our BLOG later this month, or in our February newsletter after we attend two market forecast seminars and get the rest of the data we need. If you are considering a move for reasons of lifestyle, family growth, or the kids are gone and you want the snowbird lifestyle now, give us a call for the to the minute market information specific to you.