Here 
is our update on the Edmonton real estate market. (Previous week's numbers are in brackets). For the past 7 days:
New listings: 448 (483, 536, 516)
# Sales: 421 (441, 359, 377)
Ratio: 94% (91%, 68%, 73%)
# Price changes: 203 (233, 246, 207)
# Expired Listings: 69 (102, 112, 204)
# Withdrawn/terminated/etc. listings: 34 (46, 102, 29, 21)
Net loss/gain in listings this week: -76 (-60, 36, -86)
Active listings for single family homes: 2255 (2264, 2320, 2326)
Active listings for condos: 1908 (1934, 1969, 1935)
Wow the market is hot out there right now! Multiple offers all over the place… I've been expecting a slow down for a few weeks now and with the sales to new listings ratio at 94% it is hard to say things are slowing down. I still do expect that it will be Alberta's highways that are busy next week with vacationers, not the real estate market (but I have been wrong before!):
So far this month there have been 2194 residential sales reported by the REALTORS® Association of Edmonton. That is already more sales than we've seen in a full month of June in at least 10 years except for 2007 when there were 2203 sales which means this should be a record June for sales.
The average residential sale price currently sits at $327k, single family homes $370k (both down slightly for the past two weeks) and condos at $246k (up slightly for the past two weeks).
What can we say? There has definitely been a mood shift – from a buyers market to sellers market, from no confidence to lots of confidence. We talked a lot about people sitting on the fence last year, it must have been a really big fence.
While the market has changed, so has our little company. Sarah MacDonald has joined our company as our Client Services Manager, and Justin Tazi has come on board as our newest REALTOR®. Justin has been a REALTOR for over 5 years and we look forward to bringing additional members to our team. Welcome aboard Justin and Sarah! We know these changes will allow us to better serve the needs of our clients and we plan to continue to grow in the months and years ahead. If you're interested in starting a career in real estate, or growing your career with an innovative, successful brokerage contact us today.
Happy weekend!
