Edmonton Real Estate Market Weekly Update, May 17/13

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: 587 (568, 551, 481)
# Sales: 324 (305, 30S0, 334)
Ratio: 55% (54%, 54%, 69%)
# Price Changes: 253 (277, 232, 228)
# Expired/Off Market Listings: 124 (104, 228, 79)
Net loss/gain in listings this week: 139 (159, 23, 68)
Active single family home listings: 2603 (2505, 2382, 2346)
Active condo listings: 1939 (1873, 1816, 1822)
Homes 4-week running average: $415k ($411k, $407k, $411k)
Condos 4-week running average: $237k ($239k, $241k, $244k)

Condo inventory is right in line with where we were at this time last year, but single family home inventory is still well below the past three years. Sales are quite similar to what we've seen for the past few years, so rising prices continue to be a result of low supply more than high demand. Single family home prices have gotten so high I'm going to have to edit my template, since the price line is about to hit my title:

RealEstatePrices 2
Real Estate Prices
RealEstateListingsandSales 2
Real Estate Listings and Sales


Have a great weekend!

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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11 Responses to “Edmonton Real Estate Market Weekly Update, May 17/13”

  1. GMNo Gravatar 17. May, 2013 at 2:36 pm #

    Woo-hoo!

    New high average price!

  2. ChuckNo Gravatar 17. May, 2013 at 7:13 pm #

    SF homes are going up nicely for owners, usually means buyers move to condos as affordability becomes an issue. Lots of room for Edmonton to increase compared to comparable like Calgary that have had price increases way beyond Edmonton.

    • GeorgeNo Gravatar 19. May, 2013 at 12:08 am #

      According to National Bank’s repeat sales, Calgary is still 7% off peak, Edmonton 11%. Not much difference really.
      link to pacificapartners.ca

      • wsnNo Gravatar 20. May, 2013 at 9:26 pm #

        The “peak” only lasted 1 day, so it doesn’t really matter, since most people didn’t buy on that day.

  3. a common guyNo Gravatar 18. May, 2013 at 10:52 am #

    I generally don’t like too fast (which means unnatural) price increases, if it goes too high too fast it also nose dives too fast.
    I cannot understand what’s going on in Calgary for the past year or two. There simply is no explanation in such a big price difference between Calgary and Edmonton (with similar economic conditions, weather, population size, proximity, etc).

    • wsnNo Gravatar 18. May, 2013 at 9:12 pm #

      They don’t have Anthony Henday, which created easy access to cheaper lots.

  4. Beamont ResidentNo Gravatar 18. May, 2013 at 11:42 am #

    Just don’t understand why “Edmonton” sees continual price increases and sales activity while Beaumont appears to be stagnant (based on my own experience – a realtor priced and listed property which has had 15 shows and no offers over 2 months). This house shows well (we’re told) and has been reviewed for presentation by a staging professional.

    Is this experience unique to this house or Beaumont?

    • GMNo Gravatar 20. May, 2013 at 10:49 pm #

      Beaumont is continually opening up land for developers and they continue to build even if there is no demand.

      Plus, the town of Beaumont has no money. There’s no business there to support the tax base. All taxes must be derived from home owners, thus the continual push for more houses.

      • CMDNo Gravatar 22. May, 2013 at 11:29 am #

        ^Beaumont wants to develop more land for commercial and industrial uses as it knows that their tax base is too heavy on residential. They don’t want to be in a situation similar to St. Albert and are looking at ways of diversifying their tax base. I don’t know how this will work for them given their proximity to Nisku, the International Airport and business/employment areas in South Edmonton.

      • wsnNo Gravatar 22. May, 2013 at 2:03 pm #

        Merge into Edmonton. Problem solved.

  5. Inspector GadgetNo Gravatar 19. May, 2013 at 8:28 pm #

    I have a video of WSN smoking what appears to be a crack pipe. I will sell it to anyone that wants it.
    Meet me at the Windemere Tim Hortons. The price is a large 2 cream.