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: 499 (542, 617, 562)
# Sales: 318 (334, 320, 322)
Ratio: 64% (62%, 52%, 57%)
# Price changes: 301 (336, 349, 327)
# Expired/Off Market Listings: 175 (148, 275, 272)
Net loss/gain in listings this week: 6 (60, 22, -32)
Active single family home listings: 3177 (3178, 3147, 3044)
Active condo listings: 2162 (2144, 2099, 2057)
Homes 4-week running average: $407k ($404k, $404k, $403k)
Condos 4-week running average: $246k ($246k, $242k, $243k)
The REALTORS® Association of Edmonton is reporting 1277 sales so far this month for the Greater Edmonton Area, which should put us around 1800-1900 sales for the month (similar to last year). There could be a small bump in sales from the mortgage rule changes announced yesterday, but I don't think we will notice a big change, the rules are coming into effect too quickly for people to really make changes to their plans.
As you may know, we are a family business, and Sheldon's parents Ken & Ann (known at the office as Mr. & Mrs. J) are celebrating their 50th wedding anniversary this weekend. Happy Anniversary Mr. & Mrs. J!