The Price-Time Balance

As 2008 begins, many wonder what is in store for Edmonton's real estate market. Over the past 18 months the market has been on a roller-coaster ride - record low inventories resulted in escalating prices; escalating prices were quickly followed by record high inventories. Edmonton quickly moved from a buyer's to a seller's market.

Today, we are in a more balanced market, but whether it remains so will depend a lot on the stratgies employed by both buyers and sellers in the upcomong months. After witnessing some of the difficult lessons learned in 2007, ComFree knows that the key to a successful sale in 2008 will be the price-time balance.

The latter half of 2007 saw unrealistic price expectations of many sellers, combined with increased inventory levels giving buyers far more choice. Although inventory levels have begun to decrease from the all-time highs reached in September of 2007, they are still higher than what is normally experienced in the Edmonton area. Sellers must remember that any property can and will sell -- if sellers are looking for a quick sale, their price must reflect this. If price is the higher priority, patience must be demonstrated.

Regardless of the market conditions, choosing to buy or sell a home commission free is a win-win alternative for both parties.

- Erin Holowach, President -
ComFree Commission Free Realty Edmonton

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