Weekly Update, Jan. 17/14
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: 307 (321, 103, 83)
# Sales: 129 (116, 96, 84)
Ratio: 42% (36%, 93%, 101%)
# Price Changes: 88 (84, 35, 30)
# Expired/Off Market Listings: 125 (91, 414, 114)
Net loss/gain in listings this week: 53 (114, -407, -115)
Active single family home listings: 1658 (1614, 1513, 1712)
Active condo listings: 1030 (990, 967, 1121)
Homes 4-week running average: $424k ($426k, $418k, $409k)
Condos 4-week running average: $234k ($232k, $233k, $242k)
Well, I honestly thought we would see a dip in prices in the first few weeks of January, just like last year. I guess I was wrong. I still don’t expect prices to stay this far ahead of last year, so perhaps things will come down to a more normal level in the next few weeks. Sales and listings are both below last year’s levels so far this month, inventory is also very low. We are not going to see sales increase if there isn’t more inventory for buyers to choose from.
Have a great weekend!
About Sara MacLennan
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.