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: 427 (331, 395, 459)
# Sales: 197 (225, 235, 229)
Ratio: 46% (68%, 59%, 50%)
# Price changes: 253 (259, 243, 255)
# Expired/Off Market Listings: 470 (232, 161, 192)
Net loss/gain in listings this week: -240 (-126, -1, 38)
Active single family home listings: 3020 (3101, 3162, 3125)
Active condo listings: 1860 (1932, 1992, 1999)
Homes 4-week running average: $389k ($395k, $399k, $395k)
Condos 4-week running average: $232k ($236k, $234k, $240k)
The first week of school is always a busy week, but not for real estate sales in Edmonton. Interestingly, our listings got tons of showings this week and our agents were all quite busy showing homes – we could see a bump in sales in a week or two, or it could just be our office.
Stats Canada reported today that Alberta’s unemployment rate fell to 4.4% in August and has created 43,300 jobs since last August. The national unemployment rate sits at 7.3%. A tweet from the City of Edmonton said Edmonton created 4,000 jobs in August and 30,000 in the past year. Job growth tends to increase demand for real estate.
Edmonton real estate prices
Edmonton real estate listings and sales
Have a great weekend!
About Sara MacLennan
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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No comments….I am surprised.
Shhhh….The bulls must be sleeping!
The sales to new listing ratio isn’t a useful indicator, since the “new listings” are obviously re-listings that just expired, which created an artificially low ratio at each month end. A better and more consistent ratio would be sales to total listing.
“A better and more consistent ratio would be sales to total listing.”
That’s called “absorption rate” or “months of inventory.”
No, the ‘real’ bulls are watching the value increase on their assets. By the time the stats come out the real players have already made their moves. It’s mainly the ‘armchair quarterback’ wannabe’s or haters that come out after the stats are released to debate them.
A mature investor never invests all his money all at once, because no one can say for sure where the market is going. Gradually getting in/out of the market is the preferred way.