Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New listings: 617 (550, 558, 686)
# Sales: 254 (273, 321, 310)
Ratio: 41% (50%, 58%, 45%)
# Price changes: 511 (522, 563, 693)
# Expired Listings: 261 (787, 72, 74)
# Canceled/withdrawn/terminated listings: 55 (158, 163, 290)
Net loss/gain in listings this week: 47 (-668, 2, 12)
Active listings for single family homes: 4242 (4183, 4457, 4415)
Active listings for condos: 2901 (2882, 3094, 3111)
Fun times out here right now… we went from dead calm on the long weekend to chaos right after the long weekend and now it’s reasonably calm again. At least that’s how it’s going at our office. All in all I’d call this a pretty average week (compared to the last few months anyway).
The Realtor’s association is reporting the average sale price for July so far is $340,214 which is right about where we ended off in June. There have been 523 sales so far this month, which suggests we’ll hit about 1620 sales by the end of the month, which is pretty typical for July, but would put us ahead of last year for the first time this year. Our prediction is that sales will fall more in line with last years pattern, with the exception sof September which always seems a bit soft, we expect it to be significantly stronger then last year. If that does happen, there is the potential that we will end out this year with as much inventory as we ended off with last year. Of course, that all depends on how many new listings come on the market, and a few other factors.
Have a great weekend!
By the way congratulations to Gord McCallum of First Foundation Residential Mortgages who was voted one of the top 50 mortgage brokers in Canada. (#16 I think). Great job Gord!
