Edmonton Real Estate Market Weekly Update – March 9, 2012
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: 486 (483, 351, 450)
# Sales: 231 (256, 184, 202)
Ratio: 48% (53%, 52%, 45%)
# Price changes: 192 (186, 146, 163)
# Expired/Off Market Listings: 102 (216, 70, 119)
Net loss/gain in listings this week: 153 (11, 97, 129)
Active single family home listings: 2371 (2279, 2244, 2207)
Active condo listings: 1525 (1430, 1422, 1388)
Homes 4-week running average: $377k ($374k, $371k, $368k)
Condos 4-week running average: $234k ($228k, $225k, $219k)
Reading The Edmonton Journal on my ipad this morning there were no fewer than 16 articles about our warming economy and expected labour shortages. I don’t know if all those articles were in the print edition, but there is certainly a feeling that we are going to buck the international trend for the next while. There is always a lag between job growth and real estate market growth, so it may take awhile to see any affects on our real estate market. In addition, numbers released yesterday by CMHC show home builders in the greater Edmonton area are quite busy adding new inventory which will further increase housing supply.
Have a great weekend!
About Sara MacLennan
Sara MacLennan is the Director of Marketing at Liv Real Estate and a licensed Real Estate Associate. The bulk of Sara’s experience and wealth of expertise lies in on-line technology and marketing both for agents and consumers. Sara is the former National Director for Interactive Marketing for Coldwell Banker Canada where she was responsible for an extensive training program traveling to offices across the country training agents and brokers on marketing and technology. Find Sara on Twitter @edmontonblogger.