Is Edmonton’s real estate market topping? “The advantage has definitely moved from the seller to the buyer,” says CMHC’s Richard Goatcher. Unsold homes number 8,183 in Edmonton, over four times the 1,856 in July 2006.
Oil-rich Fort McMurray, Alberta is still humming, however. It’s population is just 75,000 but it’s average home price is an incredible $605,495.
Older people like condos, and Canada has never had a greater percentage of older people. (See Chart) Could these demographics boost the relative value of condos in coming years? We’ll keep our eye out for the evidence and keep you posted.