Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New listings: 255 (286, 297 , 321)
# Sales: 119 (125, 169, 162)
Ratio: 47% (44%, 57% , 50%)
# Price changes: 234 (297, 347, 321)
# Expired Listings: 191 (503, 139, 231)
# Canceled/withdrawn/terminated listings: 35 (46, 26, 36)
Net loss/gain in listings this week: -90 (-388, -37, -108)
Active listings for single family homes: 2940 (2991, 200, 3188)
Active listings for condos: 1975 (1986, 2158, 2177)
So far this month there have been 319 sales, which could put us below 800 sales for the month, which is below average. The average residential sale price sits at $313k for the month so far, down from $318 at the end of November. Single family homes are averaging $355k, down from $364k while condos are up to $236k from $231k. Only 11 days into the month its hard to say this is a trend, we should have a better idea next week.
With temperatures expected to dip into the -30 range and stay very cold for at least the next week, I would expect only the most motivated buyers to be out looking putting a further chill on real estate sales this month. If you are one of those buyers thinking of going out in the next week you may want to check if your Realtor’s car has heated seats!
