Here is our update on the Edmonton real estate market. (Previous week's numbers are in brackets). For the past 7 days:
New listings: 390 (380, 94, 107)
# Sales: 111 (82, 37, 65)
Ratio: 28% (22%, 39%, 61%)
# Price changes: 242 (156, 94, 75)
# Expired Listings: 215 (171,851, 184)
# Canceled/withdrawn/terminated listings: 21 (11, 13, 17)
Net loss/gain in listings this week: 43 (116, -807, -159)
Active listings for single family homes: 2350 (2347, 2258, 2722)
Active listings for condos: 1688 (1625, 1554, 1878)
Last year at this time the sales to new listings ratio was at 30%, so we're not far off last year. I was expecting to see more sales this week, simply because things seem busier out there (more showings, more offers etc). One thing that could be slowing things up a bit are conditions – it is harder to get a mortgage these days, so the condition dates are being written for a longer period of time. Sales are not reported until all conditions are removed so the start to the year could be slower because of longer condition periods.
So far the overall average residential sale price is $310,040, almost unchanged from December. The average sale price for single family homes has dropped again to $340k (from $350) and condos have increased again to $237k (from $231k).
