Weekly Update, Dec. 20/13

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: 171 (170, 224, 188)
# Sales: 146 (188, 180, 202)
Ratio: 85% (111%, 80%, 107%)
# Price Changes: 51 (85, 93, 126)
# Expired/Off Market Listings: 168 (143, 279, 114)
Net loss/gain in listings this week: -143 (-161, -235, -128)
Active single family home listings: 1767 (1853, 1934, 2072)
Active condo listings: 1154 (1194, 1241, 1331)
Homes 4-week running average: $417k ($414k, $409k, $404k)
Condos 4-week running average: $244k ($241k, $247k, $243k)

The average price for single family homes officially went so high this week, I had to adjust the scale on my graph. Weird. The question is, will the prices drop in January like they did last year, and if so will they drop that dramatically?

 RealEstatePrices 1
Edmonton Real Estate Prices

RealEstateListingsandSales
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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12 Responses to “Weekly Update, Dec. 20/13”

  1. BOSSNo Gravatar 20. Dec, 2013 at 1:22 pm #

    Unreal…???

  2. Jonathan PeddleNo Gravatar 20. Dec, 2013 at 1:57 pm #

    Wow.
    Were there any external factors other than seasonal, or other regular factors…. contributing to the sharp decline this past January?

  3. FloydNo Gravatar 20. Dec, 2013 at 2:19 pm #

    Do we know if the price per sq foot went up?

    • GMNo Gravatar 20. Dec, 2013 at 2:33 pm #

      That’s the million dollar question…

  4. RippedNo Gravatar 20. Dec, 2013 at 8:15 pm #

    How do you figure out what the chart is saying? I look at the left side on the dark blue line (2013 for Homes) and it starts at about the $400,000 line. I follow that line across and on the right side it says $270,000

    You know what I mean? Am I stupid or is that chart just stupid

    link to edmontonrealestateblog.com

    • ShawnNo Gravatar 20. Dec, 2013 at 8:43 pm #

      The chart represents two average market values:

      1. The larger numbers on the left represent the single family home average price.

      2. The smaller numbers on the right represent the condo average price.

      The lines are not relational in anyway from left figure to right figure as one side represents data while not representing data on the opposite side, so just read the chart on the left and the on the right, but separately.

      • RippedNo Gravatar 21. Dec, 2013 at 11:46 pm #

        Thanks

        So homes went up 25K in the last 4 weeks?

        LOL… Ya okay

  5. RippedNo Gravatar 20. Dec, 2013 at 8:17 pm #

    I guess my link to the blown up chart doesn’t work?

  6. BOSSNo Gravatar 22. Dec, 2013 at 11:40 am #

    Could this be due to more new home construction sales closing this time of year and less MLS older home selling? Or is this based only on MLS sales and not new construction sales that never hit the market and sell through the builders sales office?
    I can’t understand how the average price is spiking at this time of year again?
    It makes no sense…?

    • MattNo Gravatar 23. Dec, 2013 at 7:39 am #

      It makes sense, there are so many people who have moved here the last couple years, the market is starting to heat up in the last quarter as there are many more people buying, combined with very low inventory. The tens of thousands of people that have moved to Edmonton the last couple years are now done renting and are starting to buy. And yes, I think based on these fundamentals your average house probably has gone up $20,000 in the last few months. 2014 and 2015 are going to be spectacular in terms of appreciation. Just look at Calgary going up 8% a year, and generally Edmonton appreciation is 18 months behind Calgary’s.

  7. GMNo Gravatar 23. Dec, 2013 at 1:00 pm #

    How about this realtor!

    link to calgarysun.com

  8. DanielNo Gravatar 26. Dec, 2013 at 2:01 am #

    Like reading your blog! The information you give is about the recent prices and not everyone can do such a research. According to my opinion the prices for real estate won’t drop in January. I’ve read in many reviews that the prices are rising and will continue growing. The market is not stable. You’ve pointed that the average price for single family homes officially went so high this week and it’s a pity to hear that less can afford buying their own home.