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: 515 (493, 515, 461)
# Sales: 314 (245, 273, 267)
Ratio: 61% (50%, 53%, 58%)
# Price changes: 260 (267, 197, 212)
# Expired/Off Market Listings: 125 (82, 237, 82)
Net loss/gain in listings this week: 76 (166, 5, 112)
Active single family home listings: 2831 (2809, 2714, 2685)
Active condo listings: 1836 (1764, 1696, 1713)
Homes 4-week running average: $394k ($392k, $389k, $388k)
Condos 4-week running average: $232k ($230k, $232k, $229k)
Notable stats this week: highest sales in a week so far this year by a significant margin (previous high was 273 two weeks ago). Highest ratio of listings to sales so far this year, which is significant since the number of listings was quite high as well. Inventory is on the rise - single family inventory is right in line with last year while condo inventory is gaining more quickly. Average prices for single family homes are well ahead of last year, while condos are about the same.
The REALTORS® Association of Edmonton is reporting 1,008 sales for the Greater Edmonton area so far this month, which should put us around 1700 sales for this month (slightly ahead of least year).
Have a great weekend!