Edmonton Real Estate Market Weekly Update

by Sheldon Johnston and Sara MacLennan on 20. Nov, 2009 in Edmonton Real Estate Market, Weekly Update

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

Weeklyupdate_2New listings: 329 (291, 306, 341)
# Sales: 223 (213, 225, 275)
Ratio: 68% (73%, 74%, 81%)
# Price changes: 160 (159, 221, 189)
# Expired/Off Market Listings: 143 (142, 324, 98)
Net loss/gain in listings this week: -37 (-64, -243, -32)
Active listings for single family homes: 1770 (1784, 1792, 1933)
Active listings for condos: 1469 (1472, 1485, 1576)

The REALTORS® Association of Edmonton is reporting 829 sales so far this month – that is almost as many sales as we saw in all of November last year (891). Keeping things in perspective, last November was pretty much the worst November ever for sales and this month looks like it will actually be an average November. 

I am surprised to see the number of new listings increase this week, normally we see new listings tail off for the rest of the year. Perhaps people are feeling confident about the market conditions at present.

The average residential sale price currently sits at $315k (down from $317k in October), single family homes at $363k (up from $361k in October) and condos at $227k (down significantly from $238k in October).

I've gotten complaints about the colours in my weekly sales and listings chart so I mixed it up this week, hopefully this meets with everyone's approval:

Nov2009Weekly 
 

 

del.icio.us Digg

4 Responses to “Edmonton Real Estate Market Weekly Update”

  1. GM 21. Nov, 2009 at 1:33 am #

    Thanks for making the changes to the chart colours Sheldon.
    Much easier to distinguish them now!
    I love a realtor who listens to his clients!!!

  2. condos in Edmonton 22. Nov, 2009 at 10:17 am #

    Hi Sheldon and Sarah,
    I was wondering if you could give me your opinion on whether the glut of condos in Edmonton is beginning to ease off a big. I would like nothing more than to sell my condo in the next couple years, but it has depreciated rapidly since the time that I bought it. I know that this year has been extremely hot for single family home sales; however, is this having an effect at all on the condo market? When do you see the inventories for condos dropping to more reasonable levels? Also, there still seems to be a lot of new construction of condos around Edmonton, particularly downtown. Why is there still this kind of construction when the market seems glutted with condos already. Is this because investors seem hopeful for another boom in the future?

  3. Canadian Real Estate Meltdown 22. Nov, 2009 at 2:56 pm #

    http://www.marketoracle.co.uk/Article15223.html

  4. Spud 22. Nov, 2009 at 4:18 pm #

    Canada isn’t the only place where house prices have gone up. Australia has also bucked the US lead and had an increase in house prices. Which gets me thinking maybe it was only the US and UK that had significant corrections. Does anyone know?