Edmonton Real Estate Market Weekly Update – July 20/12

by Sara MacLennan on July 20, 201220. Jul, 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: 435 (484, 493, 495)
# Sales: 303 (314, 239, 355)
Ratio: 70% (65%, 48%, 72%)
# Price changes: 297 (337, 291, 328)
# Expired/Off Market Listings: 183 (193, 386, 143)
Net loss/gain in listings this week: -51 (-23, -132, -3)
Active single family home listings: 3105 (3114, 3125, 3195)
Active condo listings: 2090 (2085, 2097, 2148)
Homes 4-week running average: $392 ($398k, $404K, $406k)
Condos 4-week running average: $234k ($237k, $241K, $242k)

The REALTORS® Association of Edmonton is showing 976 sales for the Greater Edmonton Area so far this month, which should put us around 1600 for the month (about average for July). 

July2012
Edmonton real estate listings and sales
 

Does anyone else hear the sound of someone sitting on a whoopee cushion when they look at this chart? Seriously though, prices are following a normal seasonal trend, and I wouldn’t be surprised if they level off a bit in the weeks to come rather than continue the current downward plunge.

JulyAvg2012
Edmonton real estate prices

Have a fantastic 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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12 Responses to “Edmonton Real Estate Market Weekly Update – July 20/12”

  1. House HunterNo Gravatar 20. Jul, 2012 at 2:01 pm #

    except if you showed that chart to a stock technical analyst he’d tell to get out ASAP, look how sharp that down word trend is. Lets hope its seasonal.

    • RickNo Gravatar 20. Jul, 2012 at 4:03 pm #

      Hey House Hunter – If you’re still hunting, maybe hold off. Too many things in the frying pan right now that might spell economic disaster in the months ahead. Don’t want to be a scary prophet of doom but when you consider Iran, Israel, Syria, the upcoming U.S. election, and so many other factors, we might very well be headed toward global economic collapse which has been in the headlines for a while now. If the Strait of Hermuz is shut down by Iran, (which they are planning to do very, very soon) war comes immediately after followed by a doubling (at least) of the price of oil. The U.S. debt and the GDP are both a threat to the global market. Too bad Canada can’t be totally independent of these countries. We could then move ahead with confidence and perhaps see a leveling of prices where food, shelter and other essentials are concerned. And as far as the U.S. election, God help us. Only a flip of the coin as people cast their ballots will determine the outcome of these two fast talking, go nowhere guys. Whether it’s Romney or Obama, will make no difference come Christmas Day. Too bad that North America has forgotten about God and turned to the new god called “prosperity”. Look what we’ve created. Anyways, I’m babbling now and know I must stop. Have a great week end. God bless.

      • A commong guyNo Gravatar 20. Jul, 2012 at 5:41 pm #

        Oh my God. Rick is right, God, how I didn’t know.
        Of course we need the help of God.
        God bless all of us.

        have a God day! oops I meant a good day.

      • GMNo Gravatar 20. Jul, 2012 at 6:51 pm #

        Methinks a doubling of the price of oil won’t be so bad for a province such as ours.

      • GaryNo Gravatar 25. Jul, 2012 at 12:31 pm #

        Quit the fear mongering Rick, you’ve been watching too much CNN.

    • wsnNo Gravatar 20. Jul, 2012 at 11:47 pm #

      House Hunter, go ahead short the hell of edmonton real estate and make a fortune.

    • Karl HungusNo Gravatar 21. Jul, 2012 at 12:27 pm #

      A good analyst would tell you to buy more because your assest is selling at a discount.

  2. imranNo Gravatar 20. Jul, 2012 at 6:19 pm #

    If political conditions in the middle east becomes more unstable, demand to produce more oil from stable regions like alberta increases, this will increase more investment in oil sands, means more jobs, means more people will move to alberta, means more demand for housing, means higher housing prices……does it make sense or i m not getting correctly????

  3. A commong guyNo Gravatar 21. Jul, 2012 at 11:11 pm #

    From what I read the avg price/SF hasn’t changed over the last couple of months. So it means there were mostly larger houses that were being sold at the peak and now there are mostly smaller houses.
    Sara/Sheldon can add to this if they have the numbers.

    • Sara MacLennanNo Gravatar 27. Jul, 2012 at 9:57 am #

      There was an increase in the number of luxury properties sold in May in June compared to earlier in the year. There were 17 sales over $1 million in June and 6 so far this month. This accounts for part of the drop in average prices but not all, I’ll have a closer look at it when I post the monthly stats and get the median prices as well.

  4. A commong guyNo Gravatar 23. Jul, 2012 at 9:19 am #

    I guess this article is somewhat related to what I said above:
    link to cbc.ca

    • wsnNo Gravatar 26. Jul, 2012 at 2:56 pm #

      I agree. Too bad the home price index doesn’t cover Edmonton. We will have to use price per sf for now.