Edmonton Real Estate Market Weekly Update – April 20/12

EdmontonRealEstateMarketUpdate
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. 

 
April2012Avg
Edmonton home prices
 
April2012
Edmonton real estate listings and sales

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!

About 

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.

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6 Responses to “Edmonton Real Estate Market Weekly Update – April 20/12”

  1. A commong guyNo Gravatar 20. Apr, 2012 at 1:10 pm #

    Looks like we are going to see highest numbers in the last 3-4 years. Might not get to the pick of 2007 but I think we’ll see the highest prices since Oct 2007.

  2. Inspector GadgetNo Gravatar 20. Apr, 2012 at 2:00 pm #

    It sure would be nice to see us get back to a level reached 5 full years ago wouldn’t it? With almost free money available and daily headlines of economic bliss of late it is kind of amazing we are still this low. I guess people really just don’t want to live here unless they have to for work. This is the main reason why I believe real estate can only ever mirror wage inflation in Edmonton over the long term. It actually is a good thing for the working class person.

    Price trend it up, sales trend is almost flat, inventory is building a bit. Not much of a story here.

    Happy 420 everyone!

    • tontoNo Gravatar 20. Apr, 2012 at 2:12 pm #

      It looks like my comment about my inspector friend being as busy as he has ever been is starting to translate into sales. Like I said it would take a week or two.

  3. Inspector GadgetNo Gravatar 20. Apr, 2012 at 2:16 pm #

    Looks like sales up a bit for sure Tonto, but not much over last year yet. Maybe he is just a really good inspector and he is busy while many others are not…after all, I should know!

  4. HalNo Gravatar 20. Apr, 2012 at 4:02 pm #

    I don’t know where all of you are getting your grand ideas about this market “skyrocketing”…cause that sales and inventory line looks exactly the same as the past two years…

  5. Carson City HomesNo Gravatar 23. Apr, 2012 at 5:48 pm #

    Sara,

    Have to say, after casually observing Edmonton’s housing market….it wavered much much better than comparable cities out here in U.S…

    “Highest ratio of listings to sales so far this year, which is significant since the number of listings was quite high as well.

    Read more: Edmonton Real Estate Market Weekly Update – April 20/12″

    If i’m not mistaken, you guys experience a dip, but never a full blown real estate recession. Jobs, I think, has got a lot to do with it….happy for you guys and your whole city.

    Keep posting updated…stumbled on your blog in 2008…you’re still consistent as always..

    -Joe