Edmonton Real Estate Market Weekly Update, July 12/13

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: 480 (393, 464, 531)
# Sales: 310 (272, 333, 340)
Ratio: 65% (69%, 72%, 64%)
# Price Changes: 261 (265, 282, 327)
# Expired/Off Market Listings: 156 (311, 130, 131)
Net loss/gain in listings this week: 14 (-190, 1, 60)
Active single family home listings: 2854 (2801, 2897, 2906)
Active condo listings: 1932 (1944, 2040, 2040)
Homes 4-week running average: $403k ($407k, $412k, $412k)
Condos 4-week running average: $251k ($258k, $253k, $252k)

Sheldon and I attended a real estate conference in San Francisco this week, that is heavily focused on technology and marketing. We're coming home with our heads full of new ideas. Unfortunately that also means we didn't have much time for blogging this week. Anyway, here is our update...

The average price has clearly peaked for 2013, and is now on its seasonal path down. As we've already discussed, the average condo price was heavily boosted by an increase in luxury sales, and it is now starting to return to more normal levels. 

RealEstatePrices 1
Real Estate Prices
 
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Real Estate Listings and Sales

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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14 Responses to “Edmonton Real Estate Market Weekly Update, July 12/13”

  1. CastledownsNo Gravatar 12. Jul, 2013 at 1:23 pm #

    Looking forward to your new ideas. I hope they are more on the new technology side then new marketing. :)

  2. Grammar PoliceNo Gravatar 12. Jul, 2013 at 2:57 pm #

    THAN

  3. 123kidNo Gravatar 15. Jul, 2013 at 11:35 am #

    Canadian home sales down 0.6 per cent from year ago, prices up 4.8 per cent. Despite the drop in sales from June 2012, the national average sale price last month was up 4.8 per cent from a year ago, rising to $386,585.

    link to bit.ly

  4. Karl HungusNo Gravatar 15. Jul, 2013 at 2:15 pm #

    Canadian real estate stats are completely useless

  5. 123kidNo Gravatar 15. Jul, 2013 at 6:23 pm #

    Calgary realtors see ‘crazy’ rush of home buyers after flood link to edmontonjournal.com via @edmontonjournal

    • TonyNo Gravatar 16. Jul, 2013 at 2:20 pm #

      I’m seeing fewer sales and fewer listings. Usually after a flood property values fall. Unless mortgage rates decline we’ll see lower prices and lower sales. That won’t happen until Ben Bernanke is out of office this January. Come January the *real* truth about the state of the economy in America will be told and interest rates will plunge big time!

      • MTNo Gravatar 18. Jul, 2013 at 6:20 pm #

        um, U.S, Interest Rate has been 0.25% since 2010, and Canadian interest rate has been 1.0% since 2010. Not much room to “plunge”.

        MT

    • harboursnugNo Gravatar 16. Jul, 2013 at 2:58 pm #

      It must be true if Calgary realtors said so.

      • wsnNo Gravatar 16. Jul, 2013 at 9:11 pm #

        Yeah, all those displaced residents must have been camping and waiting for the price to fall.

        • harboursnugNo Gravatar 16. Jul, 2013 at 9:57 pm #

          Ya all those displaced residents must have each had another mil sitting around collecting dust so why not all rush out and buy another house while there flooded house’s are being reno ‘d … Please, lol

  6. Ashley penleyNo Gravatar 17. Jul, 2013 at 10:11 pm #

    I had a house fire in December and very soon after we purchased a little condo. My house has not been touched by the restoration company my insurance hired for over 2 months. And now because of the floods my house is way down on the priority list. We are not well off, so yeah, it is likely people are picking up a second, or third property, whatever it may be!

    • harboursnugNo Gravatar 18. Jul, 2013 at 10:32 am #

      I don’t know about you but every younger person I know is mortgaged to the hilt and any house equity they may have is pulled out to reno the place or pay off the credit cards. There’s no extra money laying around.

      • wsnNo Gravatar 18. Jul, 2013 at 11:44 am #

        Those affected by the Calgary flood are not the typical younger person you know.

        You don’t even need to go to Calgary to find out. Here in Edmonton, take a walk on some south side river facing streets. Most residents are old people with their mortgage paid out.

  7. A commong guyNo Gravatar 19. Jul, 2013 at 9:29 am #

    What you are missing is that those who live in multi million houses typically have more money in other places than in their house. I know at least a few here that fall in this category.