Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New listings: 437 (435, 484, 493)
# Sales: 248 (303, 314, 239)
Ratio: 57% (70%, 65%, 48%)
# Price changes: 279 (297, 337, 291)
# Expired/Off Market Listings: 172 (183, 193, 386)
Net loss/gain in listings this week: 17 (-51, -23, -132)
Active single family home listings: 3147 (3105, 3114, 3125)
Active condo listings: 2091 (2090, 2085, 2097)
Homes 4-week running average: $390k ($392, $398k, $404K)
Condos 4-week running average: $237k ($234k, $237k, $241K)
The REALTORS® Association of Edmonton is reporting 1,349 sales so far this month for the Greater Edmonton area – about average for this time of year.
Canadian and U.S. retailers are certainly seeing opportunity in Edmonton – 3.2 million square feet of commercial space will be added to the greater Edmonton area over the next year. The commercial vacancy rate is at a historic low of 2.4%.
Driving the furious pace of construction is a ravenous appetite for space from Canadian and U.S. retailers and restaurant chains looking to expand in one of North America’s healthiest economies. Alberta’s retail sales were 25% higher than the national per capita average in 2011, according to Colliers 1st-quarter retail market report.
Have a great weekend! Go team Canada!