Edmonton Real Estate Market Weekly Update

by Sheldon Johnston and Sara MacLennan on 24. Jul, 2009 in Edmonton Real Estate Market, Weekly Update

Here Weeklyupdate_2is our update on the Edmonton real estate market. (Previous week's numbers are in brackets). For the past 7 days:

New listings: 429 (500, 499, 453)
# Sales: 375 (365, 337, 329)
Ratio: 87% (73%, 68%, 73%)
# Price changes: 197 (174, 191, 189)
# Expired Listings: 85 (98, 93, 308)
# Withdrawn/terminated/etc. listings: 29 (41, 26, 32)
Net loss/gain in listings this week: -60 (-4, 43, -216)
Active listings for single family homes: 2185 (2208, 2178, 2150)
Active listings for condos: 1781 (1808, 1828, 1797)

July2409Weekly 

The REALTORS® Association of Edmonton stats show 1689 residential sales so far this month – with one week left to go that should put us over 2000 sales for the month. The average sale price sits at $326k, single family homes at $374k, and condos at $244k (all about the same as last week). Happy weekend! 

del.icio.us Digg

6 Responses to “Edmonton Real Estate Market Weekly Update”

  1. Another Fred 24. Jul, 2009 at 6:04 pm #

    Still waiting for some sign of cracks to appear in this market. Honestly I’m surprised that sales volumes remain this strong. There must have been a lot of pent up demand from all the people who waited and held off from buying in the past year or two before this spring.

    Where will things go from here?

  3. Jimminy 26. Jul, 2009 at 9:23 pm #

    An article from 2 and a half weeks ago? The past not the preview.

  4. Imallin 26. Jul, 2009 at 10:02 pm #

    Financial forecasts make weather men look amazing but the following link is a statement from the Bank of Canada. Looks promising thought. We may be on our way to a recovery.

    http://www.bank-banque-canada.ca/en/speeches/2009/state09-6.html

    Another article says that “Alberta is on the verge of an oilsands boom”

    http://www.edmontonjournal.com/business/Oilsands+boom+coming+Rubin+says/1827739/story.html

    My guess and it’s only that, is that in 1-2 years our econonmy will be in full swing again. Maybe even see a repeat of 2006-2008, just not as crazy of price increases in the real estate.

  5. George 26. Jul, 2009 at 10:36 pm #

    Forget the forecasts – here’s reality

    http://jobs.alberta.ca/index.html

    “Thank you for your interest in employment with the Government of Alberta. We are currently suspending recruitment to most of our positions.”

  6. Duke 26. Jul, 2009 at 11:44 pm #

    Is it not true that market’s lead and jobs lag? What does the late swing in the markets then say about jobs in the next year or two? It’s true that we didn’t see much for jobloss until a year or so after the market’s plumetted right?

    And what about oil prices? Everyone laments that they’re so low relative to the 3 whole seconds they touched $147… but when was the first time they were ever at $70? Around 2005 was it? When were all these oilsands projects starting to take off? Before that.

    Inventory is being eaten up quick, consumers slowly regaining confidence, a lot of good news in the headlines again… sounds to me like the ships slowly starting to swing again.

    Maybe I’m missing something… I don’t claim to be an expert on this stuff so please enlighten me if I’m out to lunch here.