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.
Have a great weekend!