Edmonton Real Estate Market Update
Here is our update on the Edmonton real estate market. (Previous week’s number are in brackets). For the past 7 days:
New Listings: 309 (384, 296, 144)
# Sales: 188 (194, 119, 81)
Ratio: 61% (51%, 40%, 56%)
# Price Changes: 99 (113, 81, 46)
# Expired/Off Market Listings: 93 (187, 120, 459)
Net loss/gain in listings this week: 28 (3, 57, -396)
Active single family home listings: 1700 (1677, 1632, 1594)
Active condo listings: 1265 (1229, 1227, 1162)
Homes 4-week running average: $379k ($375k, $388k, $402k)
Condos 4-week running average: $212k ($201k, $227k, $226k)
At this time of year, the sales to new listings ratio is normally between 30-40%, and we are currently sitting at 61%. We typically see supply and demand on the rise in the first quarter, and while we are seeing an increase in both supply and demand, supply is not increasing as quickly as demand is. It will be interesting to see if supply remains tight as we head into the spring market.
Many of our clients are currently having difficulty finding what they’re looking for, but there doesn’t seem to be a shortage of any particular type of property, it’s all over the map. When something good does come on the market, that is priced well, it sells quickly in Edmonton right now, very quickly.
Have a great weekend!