Everyone keeps saying the market is crashing but I see prices still climbing in my area

I live in the southeast part of Edmonton near Ellerslie and every day I see people online yelling about a big crash coming. But last month my neighbor sold his 3-bedroom duplex for $415k and that's $20k more than what the same model went for in January. I think folks are just repeating what they hear on national news without looking at local numbers. The inventory is still low here and buyers are still offering over asking on decent properties. Has anyone else noticed this gap between the online panic and what's actually happening when you go to showings?

2 comments

2 Comments

reed.eva25d ago

Ellerslie still seeing $20k over comps here too.

the_fiona25d ago

Notice the same thing at my grocery store - people online are screaming about inflation cooling down but my weekly bill keeps going up. It's like there's this echo chamber on social media where national trends get repeated, but real life moves way slower and more local.