Edmonton Real Estate Market Weekly Update

by Sheldon Johnston and Sara MacLennan on 27. 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: 289 (329, 291, 306)
# Sales: 217 (223, 213, 225)
Ratio: 75% (68%, 73%, 74%)
# Price changes: 295 (160, 159, 221)
# Expired/Off Market Listings: 103 (143, 142, 324)
Net loss/gain in listings this week: -31 (-37, -64, -243)
Active listings for single family homes: 1775 (1770, 1784, 1792)
Active listings for condos: 1472 (1469, 1472, 1485)

The REALTORS® Association of Edmonton is reporting 1134 residential sales so far this month, which should put us over 1200 sales for the month which is about average for November. Last November there were only 891 sales in November which was much lower than normal. The average sale price for residential homes is $316k (up slightly from last week but down from $317k in October), single family homes is currently $365 (up slightly from last week and last month, condos $230 (up from last week but still down significantly from last month).

Nov2709Weekly

Have a great weekend! 

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6 Responses to “Edmonton Real Estate Market Weekly Update”

  1. connan23 27. Nov, 2009 at 1:41 pm #

    is duplex considered condo?

  2. sell side 29. Nov, 2009 at 7:45 pm #

    I’ve noticed this disconnect before. You report a net loss of listing of 31 and a gain in single family of 5 and a gain in condos of 3. You’ve probably explained it before; but, I missed it.

  3. Sheldon Johnston and Sara MacLennan 29. Nov, 2009 at 10:04 pm #

    Hi Sell Side… I don’t count some status’ such as pending, withdrawn, cancelled… there are a lot of reasons a listing wouldn’t be counted as either on or off the market that are (in my opinion) not relevant or statistically so small they just don’t count. A lot of those listings will switch back and forth between on and off the market so I try to keep it simple. Thanks! Sara.

  4. Sheldon Johnston and Sara MacLennan 29. Nov, 2009 at 10:15 pm #

    H Connan,
    Sometimes it is and sometimes it isn’t…. some half duplexes are condos and some are single family homes. If it is a sfh it will be included in the sales and average price details under single family home. If it is a condo it is not included in our stats because it is categorized as “other” and the numbers are so small the average sale price varies greatly each week and nothing can really be infered from the stats. Thanks, Sara

  5. Heidi 01. Dec, 2009 at 8:42 am #

    Hi, This is a great blog! My question is what time of year (generally speaking) is
    the best time to get a good deal on a resale home?

    Should you aim to buy in December when people might be more eager to sell before the end of the year, or wait for spring when there is more inventory, more competition?

    Also, are prices in Edmonton on the way up? In your best guess?

    Thanks,
    HS

  6. sell side 03. Dec, 2009 at 8:38 am #

    Now is a good time to buy my house. :) I don’t want to carry it through the winter and I’m thinking I’ll raise the price if I still have the property in February.