Dammit…I’ll be honest i’ve made comments about chicken little and I’ve pooh poohed their sky is falling theory. Man do they have some pull because yesterday the sky did literally fall above Edmonton. Depending on your point of view, a meteorite came crashing to Earth last night blazing across the sky. I say depending on your point of view because some of you may see it as an alien mother ship that has raced across the galaxy to buy up prime Edmonton real estate, or you may have a more apocolyptic view.
I totally missed it since I was catching up with an old friend from high school. Sara missed it because she, (Lisa, one of our agents) and one of our clients are in Denver for the Cold Play concert. So far though the Real Estate sky hasn’t fallen with activity up slightly this week. Have a great weekend. Sheldon
Here is Sara’s update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New listings: 321 (356, 430, 373)
# Sales: 162 (146, 155, 149)
Ratio: 50% (41%, 36%, 40%)
# Price changes: 321 (357, 376, 375)
# Expired Listings: 231 (150, 578, 279)
# Canceled/withdrawn/terminated listings: 36 (47, 47, 33)
Net loss/gain in listings this week: -108 (13, -350, -88)
Active listings for single family homes: 3188 (3236, 3228, 3362)
Active listings for condos: 2177 (2219, 2221, 2285)
There have been 630 sales so far this month, which projected out puts us around 945 sales by the end of the month (below average). The overall residential average sale price so far for the month is $318k (the same as last month), $360 for single family homes (about the same as last month) and $230 for condos (down 3% from last month).
At this time of year we usually see a drop in new listings, sales and inventory and that is exactly what appears to be happening.
