Edmonton Real Estate Market Weekly Update, Oct. 5/12

by Sara MacLennan on October 5, 201205. Oct, 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: 430 (354, 422, 437)
# Sales: 246 (243, 250, 225)
Ratio: 57% (69%, 59%, 51%)
# Price changes: 263 (288, 274, 296)
# Expired/Off Market Listings: 438 (212, 216, 224)
Net loss/gain in listings this week: -254 (-101, -44, -12)
Active single family home listings: 2828 (2995, 2997, 3005)
Active condo listings: 1763 (1863, 1873, 1871)
Homes 4-week running average: $382 ($382k, $385k, $387k)
Condos 4-week running average: $225k ($225k, $228k, $229k)

Oct512
Edmonton real estate listings and sales

Oct512a
Edmonton home sale prices

We’ve talked a lot about the Edmonton real estate stats this week so I’ll leave it at that. What’s puzzling to us is the Calgary real estate market. Their employment numbers (the last time I looked) aren’t nearly as good as Edmonton, yet their real estate market is performing well above Edmonton in terms of sales and pricing. Is Edmonton undervalued? Are buyers here more cautious? Or is Calgary being driven by more speculation and heading in to Vancouver and Toronto correction territory? Is it just a different mindset in the two cities? I sure can’t explain it.

Happy Thanksgiving!

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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9 Responses to “Edmonton Real Estate Market Weekly Update, Oct. 5/12”

  1. GregNo Gravatar 05. Oct, 2012 at 2:06 pm #

    It’s not just about employment, it’s how much money people have in the bank. The average Calgarian net worth is likely much higher than Edmonton.
    Proximity to the mountains, and a world class airport (YEG is pathetic compared to YYC) also help property values.

    • CMDNo Gravatar 06. Oct, 2012 at 4:17 pm #

      Frankly I don’t find YYC that nice at all. Especially the US departures area. YEG’s US departure area is much, MUCH nicer. YYC does have been links to international destinations, but much of that has to do with the Rockies and Banff.

    • House HunterNo Gravatar 10. Oct, 2012 at 9:52 am #

      I have a friend who just moved to Calgary and his theory is its a total different class of people. Here in Edmonton we have the typical Govt/ trades (not so high in the education category) while Calgary has some of the brightest minds in the Energy sector. Although incomes are similiar its what you do with the cash. For example invest in a hard asset or a dually with a 10inch kit.

      ANd most importantly,…..he says the girl to guy ratio is awesome (vs the suasage fest we’re use to ;) .

  2. Inspector GadgetNo Gravatar 05. Oct, 2012 at 2:20 pm #

    1. More risk takers and leverage prone people in Calgary. Common with the white collar redneck crowd.
    2. Somewhat more desirable place to live due to location and perception of Calgary as Toronto West. That’s why I don’t like it mainly…nice places to visit though.

  3. birdladyNo Gravatar 05. Oct, 2012 at 3:32 pm #

    Looks like average home price and condo price did not update?

    • Sara MacLennanNo Gravatar 05. Oct, 2012 at 8:42 pm #

      Yep, sorry they were the same as last week so I missed it.

  4. @crazyfasteddyNo Gravatar 05. Oct, 2012 at 4:26 pm #

    it’s different there in Calgary…

    just like it is in TO and Van…jobs are only correlated to home sales and pricing when things are going down and we can’t use oil prices as an excuse…

  5. toongabbie houseNo Gravatar 26. Oct, 2012 at 4:45 am #

    I try to find out Real estate market update but result not so good.

    please update weekly

    • Sara MacLennanNo Gravatar 26. Oct, 2012 at 12:03 pm #

      Hello,
      Thanks for your feedback. I update the weekly stats every Friday, usually before noon but sometimes a little later. I would find it tough to do by 4:45am!
      Sara.