Edmonton Real Estate Market Update
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New listings: 211 (250, 290, 335)
# Sales: 192 (203, 204, 161)
Ratio: 91% (81%, 70%, 48%)
# Price changes: 158 (180, 220,227)
# Expired/Off Market Listings: 443 (153, 216, 178)
Net loss/gain in listings this week: -424 (-106, -130, -4)
Active single family home listings: 2337 (2600, 2664, 2753)
Active condo listings: 1513 (1640, 1668, 1682)
Homes 4-week running average: $377k ($367k, $362k, $363k)
Condos 4-week running average: $230k ($223k, $225k, $225k)
There have been a lot of stats this week so I'll keep it short and sweet... The market looks just like it normally does at this time of year, sometimes prices even rise in December.
Have a great weekend!
There is only one thing and only thing I can observe in this market is that every time prices start softening, a price surge will follow almost immediately.
And it does not matter if it’s recession, Christmas, high unemployment, cold winter or whatever else.
Just check the 4 week rolling average:
Homes 4-week running average: $377k ($367k, $362k, $363k)
Condos 4-week running average: $230k ($223k, $225k, $225k)
We regained everything + a little more.
It’s been going on for years now.
Never paid attention to that, great point! I’m just curious what kind of influx we’ll have in the new year. February is when acreages traditionally come on the market.
I’m sure we’ll see some people listing thru the roof, and some that will try to sell for basicly what they owe on their place.
I think that acreages are going to be a tougher sell over the next coming years. Most of this has to do with demographics. Given that a large number of people who currently live on acreages are older (the boomers) and will eventually be downsizing and that there aren’t as many young people who are interested in living that lifestyle.