Here is our update on the Edmonton real estate market. (Previous
week's numbers are in brackets). For the past 7 days: 
New listings: 610 (600, 644, 612)
# Sales: 303 (292, 312, 310)
Ratio:
50% (49%, 48%, 51%)
# Price changes: 396 (346, 376, 318)
#
Expired/Off Market Listings: 149 (159, 312, 99)
Net loss/gain in
listings this week: 158 (149, 20, 203)
Active listings for single
family homes: 2972 (2879, 2802, 2763)
Active listings for condos:
2108 (2049, 1986, 1981)
The REALTORS® Association of Edmonton is reporting 1283 sales so far this month, which should put us between 1900-2000 for the month - ahead of 2008 but behind '05, '06, '07 & '09. The average residential sale price sits at $339k (up from last week and the same as last month), single family homes at $390k (up from last week and last month) and condos at $248k (down slightly from last week and last month).
Inventory of both condos and single family homes continues to rise. It is normal to see inventory and prices rise in the spring, but I have to admit I'm surprised the average price is continuing its climb while the inventory is rising so quickly. It's tough to say if sales will be affected by this long weekend - long weekend predictions are totally hit and miss.
*We are moving to WordPress! Woohoo! We've been busy importing, exporting and reporting...that's why we haven't posted too much this week. We expect to be moved over and back up to our usual ways early next week. There could be some glitches but we're looking forward to a smooth transition and all the benefits that WordPress will bring. Thanks for your patience.
Does this mean you can use the Disqus comment system?!?!
Yes I suppose it does!
Check this out!
http://www.edmontonsun.com/news/edmonton/2010/05/19/14009811.html
Better BUY NOW!!!
AWESOME POST!!!!!! I remember reading similar posts in 2007 and we all know what happened then…..
But this time it’s different! The economy has turned the corner, expect boom time to return shortly.
Why is it different? More people migrated to Edmonton? More jobs in Edmonton? or is it caz of warm winter in Edmonton?
Maybe it’s the lower oil prices?
It sure isnt due to increasing amounts of work available, Albertas unemployment rate has almost tripled since 2007, perhaps hes being sarcastic.
If you read the Edmonton Journal Business section today, Alberta’s consumers spending is up 10% from a year ago. That prove Albertans are more confidence in their financial status and future job prospect, and I think that is a good reason for housing to rebound.
Well, I agree that economy is highly dependant on consumer confidance but unemployment nummbers are not looking good – oil prices are going down like crazy (directly affecting provincial government) and builders are pumping houses as if there is no tomorrow, and ofcourse there is no shortage of land in Edmonton. I think in the next 4-5 months, if the inventory doesn’t slow down, we will see another 2008 in 2011, let alone another boom. I would love the boom though!!!!!
It’s the builders who are going to screw us all.
Thanks for the list of blogs. Great post keep up the good work
Thanks for the list of blogs. Great post keep up the good work
What my concern is the people in the business of making money off selling homes for the highest price. Whenever I read reports from realtor's I always take it with a grain of salt because they always have a more than reasonable cheery outlook.
Richmond real estate