Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New listings: 450 (516, 523, 538)
# Sales: 228 (276, 310, 262)
Ratio: 51% (53%, 59%, 49%)
# Price changes: 461 (469, 519, 448)
# Expired Listings: 162 (269, 219, 552)
# Canceled/withdrawn/terminated listings: 47 (54, 77, 33)
Net loss/gain in listings this week: 13 (-83. -83, -309)
Active listings for single family homes: 3972 (3986, 4003, 3999)
Active listings for condos: 2661 (2643, 2671, 2705)
The September slow down has begun – every year September see lower sales and generally a drop in prices. This is because people are more occupied with kids going back to school, and schedules changing and therefore aren’t as interested in looking for homes. This is the first week in two months where the inventory increased, and sales are definitely lower than what we’ve become used to for the past two months.
Monthly update in a couple of days….expect lower average prices and better sales than last year.
Happy Weekend!
