The Law of Supply & Demand Prevails

The weather in April left us all guessing if we were going to wake up to sunshine or snow on the ground. kind of weather always affects the real estate market and as such didn't do much to propel the market forward in April, although ComFree saw a 9% increase in listings with 624 new homes listed and a 16% in sales (233 sales) over March 2008. "April is typically the month where real estate launches into with significant increases in sales and listings, although the winter-like conditions we experienced through later part of April may have delayed that change to May". Notes Erin Holowach, President.

"Buyers definitely have more control in today's market than 12 months ago," notes Holowach. ComFree contributed 3,329 houses to Edmonton's real estate inventory at the end of April, compared to 1180 homes at the same time last year when we saw record low inventory triggering the sharp price increases that Edmontonians witnessed. Over the past 12 months, supply has now responded with record high inventories.

"At this time, the law of supply and demand must prevail.” Though the Edmonton real estate market is still backed by a strong Alberta economy, prices will continue to adjust in accordance with the inventory available. Sellers must be realistic in their asking price. They cannot look to the prices of a year ago when they are looking at putting their home on the market," says Erin Holowach. "Instead, they need to think like a buyer – in this market buyers are looking for the best price, and price is the only thing that can answer the question – How can I get my house to sell quicker?

There are 2 key factors when selling a home; Price and Exposure. Whether you sell with an agent or ComFree, you will get the exposure you need, but the ComFree Advantage of not paying commission allows you to price your home lower than those listed with agents, which will result in a quicker sale and put more money in your pocket. Sellers who want a quick sale, and buyers who want the best deals, go to ComFree.com.

- Erin Holowach, President -
ComFree Commission Free Realty Edmonton

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