Wednesday, August 8, 2007

Why are comfree and MLS so divegent in Edmonton?

Comfree in Edmonton reported much lower sales level in Edmonton, just as MLS. There were only 277 sales in July as compared to 454 in July 2006. This is quite a plunge in sales volume.
This is not the whole news though. Comfree also reported a significant slide in average prices with prices falling to
$373,600 from $391,300 in June. They don't report the median prices so we can't assess how the median prices changed. I can't help but wonder if EREB is going to quietly publish an update on average prices.
But total inventory is up to 2696. Which means Comfree now has roughly 10 months of product at the current rate of sales. Despite all the denials, things have changed significantly in Edmonton.

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