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Your Top Real Estate Questions Answered: Question 2

Blog by Sara Kalke | May 12th, 2011

Here's the next big question: Where is the market going to go? 

Great question. Without a crystal ball (do tell me if you know where I can get one)... this is just my opinion, a stab in the dark given the info we have now.  Here goes: my best guess for the Edmonton real estate market is that prices will remain stable for the next couple of months (through summer), and take a slight downward hit as interest rates increase (the next Bank of Canada announcement is scheduled for July, but with banks around the world raising interest rates to combat inflation, we are already seeing banks increase their rates).  Some people think the Edmonton market is heading for an upswing (like the head of the Real Estate Investment Network - granted, their upswing refers to long-term investment holdings) - due to market fundamentals, job demand, etc., and others worry that the Canadian real estate market is headed the same direction as our neighbours to the South.

The good news is that properties are still selling, and well priced properties (i.e. the best priced properties in their property class) are selling fast.

Stay tuned for the answers to Question 3 (Is now a good time to buy? Or sell?), and a tribute to all those renters out there with Question 4 (Should I rent or buy?)

If you have any questions, please call me anytime!  Everyone's situation is different and I'd love to help you with whatever your real estate needs are.

- Sara Kalke
(780) 710-7669
On Twitter @sarakalke
On Facebook at http://www.facebook.com/sarakalkerealtor