Edmonton Real Estate Market Weekly Update – May 25/12

by Sara MacLennan on May 25, 201225. May, 2012 in Edmonton Real Estate Market, Weekly Update

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: 488 (551, 591, 596)
# Sales: 261 (331, 330, 336)
Ratio: 53% (60%, 56%, 56%)
# Price changes: 260 (313, 298, 262)
# Expired/Off Market Listings: 118 (130, 139, 277)
Net loss/gain in listings this week: 109 (90, 122, -17)
Active single family home listings: 3058 (3017, 2963, 2895)
Active condo listings: 2084 (2017, 1962, 1882)
Homes 4-week running average: $402k ($400k, $399k, $395k)
Condos 4-week running average: $237k ($237k, $234k, $237k)

The REALTORS® Association of Edmonton is reporting 1,513 sales for the greater Edmonton area so far this month. My guess is that last week was the peak of the market for sales this year. So the question is - what's going to happen with prices for the remainder of the year? 

May2512Avg
Edmonton real estate prices
May2512
Edmonton real estate listings and sales

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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14 Responses to “Edmonton Real Estate Market Weekly Update – May 25/12”

  1. A commong guyNo Gravatar 25. May, 2012 at 10:48 am #

    Is that deep around this time of year on both sales and listings (that appears to happen every year) solely related to May long weekend?

  2. NathanNo Gravatar 25. May, 2012 at 11:14 am #

    I expect prices will level off, as they did last year, and the year before that, and the year before that, etc. Barring something really out of the ordanary that is.

    So far it’s looking to be a pretty normal year in Edmonton.

  3. ShawnNo Gravatar 25. May, 2012 at 10:41 pm #

    Sheldon…Sara….I can’t go long without reading your website. You have done very well with it since I started reading it yearrrrrrs ago. How long have you had this Blog at this domain?

    I also need your assistance and hope you can assist me?

    Can you please post some – 4- year running average charts, from say………well, how about the last 5 years or whatver you can dig? I want to see Edmonton’s yearly results, in high level dashboards, and compare some years with houses and condos.

    Thanks

    • ShawnNo Gravatar 25. May, 2012 at 10:44 pm #

      Whoops to much Merlot and my head is dizzy. I wanted….please forgive me. Four week running average sale price charts from the last 5 years.

      ;)

      • A commong guyNo Gravatar 26. May, 2012 at 3:26 pm #

        You can find monthly avg for Edmonton (SFH and condo’s separately) here:

        link to bobtruman.com

      • Sara MacLennanNo Gravatar 26. May, 2012 at 4:43 pm #

        Thanks Shawn,
        The Edmonton real estate blog has been live since 2005! I have only been tracking the 4-week running average for a couple of years though so I can’t post 5 years worth of data (I manually go into the database each week and pull out the averages). Perhaps we can hire an intern or something to go back further in time for us but right now there’s not enough time.

  4. ShawnNo Gravatar 27. May, 2012 at 7:31 am #

    Thanks for the reply A commong guy! I appreciate the lens into the past few years.

    Sara – I figured 5 years may have been more difficult to pull. Possibly you could create a graph with the extra year (2010) added to compare all 3 years?

    Sincerely,
    Shawn

  5. GMNo Gravatar 28. May, 2012 at 9:51 pm #

    Dear Doom-and-Gloomers,

    Please read:

    link to bobsrealestateblog.com

  6. HowieNo Gravatar 30. May, 2012 at 5:07 pm #

    I get the point you are trying to make, but that site claims prices are higher than the 2007 peak. Not true.

    Teranet is the only accurate price information for Edmonton and Calgary. As of last month, Calgary is between 11-12% lower than the 2007 peak. That’s a fair chunk of change if you bought at the peak.

    • GMNo Gravatar 30. May, 2012 at 5:47 pm #

      According to Teranet, Household income in Calgary is $98,000 whereas in Edmonton it is $40,000.

      How accurate is that?

      • HowieNo Gravatar 31. May, 2012 at 12:38 am #

        lol, if you can find something more accurate than tracking the history of the exact same property selling, I’m listening. They’re not in the business of tracking incomes, so don’t worry about the typo. Some people learn to accept reality for their financial well-being, some avoid it at all costs. ‘Costs’ being the key word.

      • JohnNo Gravatar 01. Jun, 2012 at 9:02 am #

        Definitely inaccurate.

        2012 Average HH. Income $ 134,276 Calgary

        link to omaccanada.ca

        2012 Average HH. Income $ 107,659 Edmonton

        link to omaccanada.ca

  7. DarrylNo Gravatar 30. May, 2012 at 10:51 pm #

    I am sure these opinions are accurate in this blog
    My tax assessment came in and the average drop is about 2.5 percent with some areas dropping by 9 percent the last year
    AHH but what do I know , I would rather take spring sales and paint a big picture

  8. GMNo Gravatar 30. May, 2012 at 11:25 pm #

    I believe the assessment is based upon last year’s values.

    Take a look at the graph above. Prices started moving in January of this year.