Fast Facts from EdmontonRealEstateMarket.com

As we have been entering in the information into our new site -  www.EdmontonRealEstateMarket.com - a few things have stood out. Data for the site is pulled from the REALTORS® Association of Edmonton MLS® database. Currently there are over 100 communities profiled on the site and the number is growing daily.

The stats shown on the site are a snap shot of a 12 month period. The neighbourhood with the honor of having the lowest average days on market in Edmonton so far goes to Malmo Plains at 22 day on average. The largest discrepancy between the median price and average price for a community in Edmonton goes to Parkview.

Would you believe a property in Cromdale sold for 825,000?

The average list to sale price ratio for a neighborhood takes the sale price divided by the list price for each property and then calculates the average of all those averages. The highest list to sale price ratio we have seen for in Edmonton is 99% in Crestwood and the lowest average list to sale price ratio belongs so far to Central Mcdougall at 92%.

The most expensive sale on www.Edmontonrealestatemarket.com so far is 3.99million in Crestwood.

The most expensive home listed that sold was listed $4.4 million and $3.1 was the sale price. This is a bit of a joke when you think about it - many buyers would have dismissed even looking at it because of its high list price. Any guesses on who sold it?

There was only one neighborhood out of the 100 neighborhoods entered that had only 1 sale in its 12 month period. That area is actually the smallest neighbourhood in the city - Quesnell Heights.

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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28 Responses to “Fast Facts from EdmontonRealEstateMarket.com”

  1. birdladyNo Gravatar 10. Apr, 2012 at 9:06 pm #

    So I will take a wild guess and say it was a Comfree listing.

  2. charlieNo Gravatar 11. Apr, 2012 at 9:26 am #

    My guess is that Sheldon and Sara sold that house.

    • birdladyNo Gravatar 11. Apr, 2012 at 1:35 pm #

      You are probably right – but I find it strange that someone would list and then sell for over 1 million less – who was the realtor that came up with that listing price?

  3. tontoNo Gravatar 11. Apr, 2012 at 1:47 pm #

    Just talked to a home inspector friend of mine who says he has never been so busy as this last month. Currently he is doing 2 or 3 a day depending on size and how much overtime he can work. He is having to turn some business away as there is no way he can keep up with the demand.

  4. Inspector GadgetNo Gravatar 12. Apr, 2012 at 8:56 am #

    Tonto if that is typical of all inspectors we should see it reflected in the sales numbers as early as this week and certainly by next.

    Are you predicting a big jump? Who knows, maybe ask the pre approved low rate kids are out shopping.

    • tontoNo Gravatar 12. Apr, 2012 at 9:05 am #

      Yes I believe we will see a spike in sales #’s. Like you said it may take a couple of weeks.

  5. Inspector GadgetNo Gravatar 12. Apr, 2012 at 9:22 am #

    Only time will tell I guess.

    I fully expect to see the annual surge in sales and listings…the seasonal one that is. Perhaps a bump with all the crazy low mortgages around.
    If things stay flat with credit this cheap we could be in for some serious sales dips if rates go up some.
    I think we may pull some demand forward and not much else. Of course I could be wrong!

    • ItchyNo Gravatar 12. Apr, 2012 at 10:48 am #

      I don’t see any big sales dips on the horizon and I’ll give my opinion as to why. First of all there are a lot of people moving here, either from other provinces or from outside of Canada. Those people need somewhere to live. The only other option is renting. We know that rental vacancy rates are lowering quickly. I would bet they’re sub 3% by now and not much significant adding to supply until at least late 2013 if not 2014. That means rising rents and lack of quality accommodation. Secondly, why is it assumed that if rates go up by 1 or 2%, the housing market will tank. Lots of home sales in 2006-2008 with interest rates 2.5-3% higher than they are now.
      There are really only 2 things that I am concerned with. One, Europe somehow implodes and sends the world back into recession, or two, interest rates go up a lot more than 2%. Either one or both of those scenarios and you have $40.00 oil and the kind of exodus out of here like you had in 09/10. My humble opinion of course.

  6. GMNo Gravatar 12. Apr, 2012 at 4:05 pm #

    Like I said a couple months ago…

    There’s a boom a-comin’!

    I tried to warn you, but would you listen? Noooooooo!!!

    Instead you listened to the doomsdayers who love to post on here how the world is coming to an end. You know – the Garth Turner groupies.

    • GMNo Gravatar 12. Apr, 2012 at 4:06 pm #

      The longer you wait, the more you’ll have to pay for a house in Edmonton.

      • SarcasmoNo Gravatar 12. Apr, 2012 at 7:21 pm #

        Don’t worry, I’ve got lots of drugs to ease the pain.

  7. tontoNo Gravatar 12. Apr, 2012 at 4:24 pm #

    Everything I am seeing and hearing is an indication that your comments will be correct.

  8. WaitLongerNo Gravatar 12. Apr, 2012 at 6:22 pm #

    It’s totally the end of the world.

    Buy now or forever live in peace and financial security.

    But wait… It’s probably just a drug dealer selling a 4 million dollar home
    for 25% less than listed price right GM?

  9. Inspector GadgetNo Gravatar 13. Apr, 2012 at 9:52 am #

    From todays Journal:

    link to edmontonjournal.com

    So, so, so many people have rental properties here in Edmonton it blows my mind. Just added an 8th aquaintance last night who lives in a condo they hate because of negative equity.
    How many sales did Edmonton have between, say Spring of 2006 and Spring of 2007? Ever occur to anyone that every single one of those people have a home worth less than they paid for it, and those with less than 10% down still owe more than their home is worth, 5 years later?

    The bulls dreams of a huge boom in the economy had better come true, and even if it does it means housing will go up with wage inflation only, and thay is a best case scenario.

    Too much debt, too much speculation…it will be tempered by good employment and migration here to some extent. To expect more is a pipe dream.

    • tontoNo Gravatar 13. Apr, 2012 at 10:30 am #

      Most smart investors that are bullish are content with steady 3-7% gains per year. When gains are steady instead of one intense boom it reduces chances of a bust. However you or I do not decide weather it will be steady gains over the next 10 years or a huge spike this or next spring. The only thing that is certain is Edmonton property values are heading upwards.

  10. Inspector GadgetNo Gravatar 13. Apr, 2012 at 10:42 am #

    Tonto you should ask The Lone Ranger for a raise and use the money for math lessons.

    7% return on housing in Edmonton? First you have to make up for 5 years of negative growthif you bought in 06~07.

  11. GMNo Gravatar 13. Apr, 2012 at 10:57 am #

    Whether or not one has to make up for 5 years of negative growth has no bearing on whether the market goes up 7% in a year.

    The market cares not what happened in the last 5 years.

    • tontoNo Gravatar 13. Apr, 2012 at 11:07 am #

      Inspector Gadget. You insult my math when my comment had nothing to do with the negative growth of 06-07. My comment was on the market going forward. I would speculate that you may have trouble reading or you are just very simple minded.

  12. Inspector GadgetNo Gravatar 13. Apr, 2012 at 12:18 pm #

    Tonto and GM,

    Respecfully, implying that the market does not care that thousands and thousands of people in Edmonton have negative equity properties, especially those that speculated and had no plans on living in or holding the properties is very naive.

    Believe what you like, buy all the crappy rentals and pre construction condos and get rich!

    Best of luck, see you at the finish line!

    • ItchyNo Gravatar 13. Apr, 2012 at 1:10 pm #

      Gadget,
      I don’t think that negative equity is a big deal if things stay this way economically speaking. I mean we’ve had those same people in negative equity for 4 or 5 years now, including through a recession. I also don’t know why you think holding onto property that you’re going to rent out is a lousy idea now. I would take the opposite side and say that the rental side of the market will likely do better over the next couple of years than the resale market. Rental vacancies are tightening quickly, population growth is increasing and interest rates are rock bottom. I would go out on a limb and say the outlook for people with investor homes to rent is better now than at any time in the past 5 years.
      However your point regarding the portion of people with negative equity (and I have no idea what the stats for that segment is) is well taken if things turn for the worse economically.

    • wsnNo Gravatar 13. Apr, 2012 at 2:34 pm #

      Gadget, instead of using vague words like “thousands and thousands of people in Edmonton have negative equity properties”, could you please provide some concrete data?

      1) Exact number (or percentage) who have negative equity?
      2) What is that number in the USA?
      3) What is that number before and after 2007?

  13. Inspector GadgetNo Gravatar 13. Apr, 2012 at 2:48 pm #

    Of course I am not quoting stats. Anecdotally I personally know a rather large number of investors who are under water.
    Some are contemplating their options like holding on or selling at a loss.
    It is safe to assume that everyone who bought with less than 10% down in 06~07 and has not sold is negative based on average prices. No matter how you slice it, that is allot of people.
    That busy house inspector from the other day must have found many problems because his crazy schedule is not reflected in this Weeks stats, that is for sure.
    Prices for SFH are up, sales are down….not a good thing for the bull.

    • GMNo Gravatar 13. Apr, 2012 at 5:22 pm #

      Cool! The ones contemplating selling at a loss… tell them to give me a call! Sounds like they’re getting desparate. I can probably get a great deal.

    • wsnNo Gravatar 16. Apr, 2012 at 5:04 pm #

      “Of course I am not quoting stats. Anecdotally I personally know a rather large number of investors who are under water.”

      Wow, you know “thousands and thousands” of investors who are under water. I don’t even know that many people in my entire life, not to mention their finacial situation.

  14. tontoNo Gravatar 13. Apr, 2012 at 3:59 pm #

    Once again your ignorance is highlighted. I had said I would expect to see higher sales within the next week or two when commenting on my inspector friend. Although I will give you credit on being one who only hears and sees what they want to ;)

  15. ItchyNo Gravatar 13. Apr, 2012 at 5:23 pm #

    It was a long weekend. Sales are always lower (1 less banking day to close).

  16. Inspector GadgetNo Gravatar 13. Apr, 2012 at 5:30 pm #

    OK Tonto, let’s bury the hatchet….

  17. TontoNo Gravatar 13. Apr, 2012 at 7:43 pm #

    Fair enough Inspector have a good weekend.