Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New listings: 538 (528, 476, 599)
# Sales: 262 (296, 286, 293)
Ratio: 49% (56%, 60%, 49%)
# Price changes: 448 (466, 480, 554)
# Expired Listings: 552 (608, 162, 270)
# Canceled/withdrawn/terminated listings: 33( 47, 63, 65)
Net loss/gain in listings this week: -309 (-418, -35, -29)
Active listings for single family homes: 3999 (4007, 4206, 4236)
Active listings for condos: 2705 (2708, 2914, 2910)
Happy 08/08/08!!! An infinitely lucky day I’d say! No wonder it’s so gorgeous out in Edmonton today…
Anyway, here are my thoughts on the numbers this week. First off, in two weeks we’ve had over 1000 expired listings. That is a HUGE number. I expect we are going to see a lot of listings coming back on the market for significantly reduced prices in the next few weeks – I’ve already noticed quite a few.
Also, that is 4 weeks in a row where we’ve had a net loss in listings. We haven’t even seen two weeks in a row of net loss this year until now. Is there a trend afoot?
Go out, enjoy the incredible weather and take in the Folk Festival, Cariwest, or cheer on the Weekend to End Breast Cancer participants. There is lots to see and do in the river city this weekend.
