Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New listings: 558 (686, 627, 757)
# Sales: 321 (310, 257, 280)
Ratio: 58% (45%, 41%, 37%)
# Price changes: 563 (693, 628, 617)
# Expired Listings: 72 (74, 202, 625)
# Canceled/withdrawn/terminated listings: 163 (290, 62, 62)
Net loss/gain in listings this week: 2 (12, 106, -210)
Active listings for single family homes: 4457 (4415, 4382, 4287)
Active listings for condos: 3094 (3111, 3105, 3061)
Chalk this one up as the best week Edmonton home sellers have seen all year! The most sales and the fewest listings in a week in 2008 adds up to a sales to new listings ratio of 58% which could be the only seller’s market we see this year. The question is, is this a blip or has the market pendulum started to swing the other direction? Personally, I think we’ll see lower sales next week with the kiddies out of school and summer vacations on the brain. In fact, I think this week could have been the peak for the year.
The average sale price is holding pretty steady – we’re at $344,368 so far for the month – and the average price per square foot is also holding ($279 SFH and $259 Condo).
Have a Happy Canada Day Weekend and enjoy the amazing weather and activities Edmonton has in store for us for us.
