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: 354 (422, 437, 427)
# Sales: 243 (250, 225, 197)
Ratio: 69% (59%, 51%, 46%)
# Price changes: 288 (274, 296, 253)
# Expired/Off Market Listings: 212 (216, 224, 470)
Net loss/gain in listings this week: -101 (-44, -12, -240)
Active single family home listings: 2995 (2997, 3005, 3020)
Active condo listings: 1863 (1873, 1871, 1860)
Homes 4-week running average: $382k ($385k, $387k, $389k)
Condos 4-week running average: $225k ($228k, $229k, $232k)Sales have really picked up in the second half of the month, compared to the first half of the month. What originally looked dismal is now back up in the normal range for September. The REALTORS® Association of Edmonton is reporting 1198 sales so far this month for the Greater Edmonton Area, which should put us around 1350 for the month.
CMHC released their monthly report on new construction today, and even though starts are through the roof, inventory is still lower than last year (detached single family home inventory is down 7% down from last August). New condo inventory is creeping up and is 3.4% higher than last year. CMHC expects that number to continue to rise in coming months.
Have a great weekend!