Weekly Market Update, Feb. 14/14

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Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:

New Listings: 365 (404, 342, 333)
# Sales: 217 (235, 199, 168)
Ratio: 59% (58%, 58%, 50%)
# Price Changes: 94 (109, 93, 110)
# Expired/Off Market Listings: 85 (217, 98, 85)
Net loss/gain in listings this week: 63 (-71, 45, 80)
Active single family home listings: 1781 (1738, 1761, 1731)
Active condo listings: 1131 (1106, 1074, 1064)
Homes 4-week running average: $408k ($415k, $415k, $420k)
Condos 4-week running average: $246k ($241k, $231k, $230k)

The condos and single family homes are almost a mirror image on the average price chart. With the vacancy rate so low, some people are probably moving to condos, and investor activity has also increased in the condo market. 

ListingsandSales 1
Listings and Sales
EdmontonHomePrices 1
Edmonton Home Prices

Happy Valentine's Day, Go Canada, 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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24 Responses to “Weekly Market Update, Feb. 14/14”

  1. a common guyNo Gravatar 14. Feb, 2014 at 11:37 am #

    Edmonton market is sure a strange market. What’s going on with avg price of SFH and Condo’s?!

  2. JoJoNo Gravatar 14. Feb, 2014 at 11:45 am #

    So it looks like because of affordability issues, the value of condos are going up…looks like a good time to convert my condos into houses…

    • CastledownsNo Gravatar 14. Feb, 2014 at 9:29 pm #

      It shows you how cheap Edmontonians are. A typical worker town.

      We have nothing but land, plenty of them. Our City is more than happy to annex out more from Leduc, Parkland, Sturgeon or Strathcona County.

      Affordability is #1, who cares the land value if you are 30 minutes away from the core? Owning a house needs a lot of maintenance. Average Edmontonians have no time nor money to do.

  3. MattNo Gravatar 14. Feb, 2014 at 12:23 pm #

    Only a $30k difference between a house and condo in Edmonton! I would definitely take a house even though it’s a little bit more expensive. You get land and more living space.

    • Sara MacLennanNo Gravatar 14. Feb, 2014 at 1:08 pm #

      No the houses are on the left axis and condos on the right axis. I have to do it that way to fit it all on the same chart.

  4. wsnNo Gravatar 14. Feb, 2014 at 1:45 pm #

    Just some random data noise. Take a 52 week moving average and then it’s very normal.

  5. karlhungusNo Gravatar 14. Feb, 2014 at 3:44 pm #

    Its just one week people! you can’t extract any sort of analysis from one week.

  6. ChuckNo Gravatar 14. Feb, 2014 at 3:45 pm #

    So, fewer listing + more sales=higher prices. Like Adam Smith and Sarah wrote.

  7. a common guyNo Gravatar 14. Feb, 2014 at 6:35 pm #

    It is the **4-week** average price, so the trend (at least the past 4 weeks) has been down.

    BTW, Sarah, I don’t know why but when I click on your charts it opens them big but immediately the whole screen goes dark (including the chart). This happens on Firefox and started happening when you changed your blog design months ago.

    • CastledownsNo Gravatar 14. Feb, 2014 at 9:16 pm #

      I have the same technical problem, except I’m on Google Chrome.

    • wsnNo Gravatar 15. Feb, 2014 at 6:35 pm #

      Same on my computer.

      Pretty sure it’s due to some programmer doing a sloppy job.

    • RippedNo Gravatar 15. Feb, 2014 at 11:51 pm #

      Same with me but I never was much for that two sided chart anyways.

    • Sara MacLennanNo Gravatar 16. Feb, 2014 at 1:20 pm #

      Weird… works perfectly for me. I’ll get someone to have a look, thanks for letting me know. I assume you are all on windows?

      • gregNo Gravatar 16. Feb, 2014 at 1:31 pm #

        It greys out slightly on mine, firefox and chrome, but can still be viewed through the transparent overlay. If i touch the scroll bar and move it down at all the grey out disappears.

      • a common guyNo Gravatar 16. Feb, 2014 at 9:35 pm #

        I just checked and is the same in IE.
        Interesting that many had this issue but never bothered to tell.
        Seems your web developer hasn’t done enough testing :-)

    • JoeNo Gravatar 17. Feb, 2014 at 2:21 pm #

      Hey guys, just right click on the chart and select ‘open link in new tab’ – it works fine.

  8. GMNo Gravatar 15. Feb, 2014 at 2:42 am #

    I wonder if price per sq ft would look similar on a chart – ie. SFH’s down while condo’s going up.

  9. AnonNo Gravatar 18. Feb, 2014 at 11:03 pm #

    It will be interesting to see if the new EPSB boundaries in the suburbs will affect prices going forward. Summerside East (east of 88St.) is now in the catchment area for the local school while Summerside West is not. If I were a parent, I would absolutely buy on the east side so my kid wouldn’t have to bus to Satoo in Millwoods. One of the worst rides will be Windermere to McKee next to Southgate mall. Since most families living outside the Henday have young/school age children, it will be interesting to see where they decide to settle (fight for homes in catchment areas or consider mature areas where overcrowding is not an issue). This problem is only going to get worse as more and more far flung neighbourhoods are developed.

    • wsnNo Gravatar 19. Feb, 2014 at 10:01 am #

      One new school for each of Windermere and Ambleside. Families with school age kids may not like the Windermere area for now, but ones with younger kids and even ones that plan to have kids will find the Windermere area attractive.

  10. Inspector GadgetNo Gravatar 19. Feb, 2014 at 5:24 pm #

    Just saw a Colin Bruce ad on TV pushing zero down mortgages and warning people to get in now before house prices go way up and interest rates rise… Assuming he means at the same time.
    Sure am glad he is not my money or mortgage mentor!
    My mentor taught me better than that. Investment portfolio is doing very well and real estate portfolio is stable so far. Investments continue to smoke the real estate of late though!

    • CastledownsNo Gravatar 19. Feb, 2014 at 6:50 pm #

      Interest rate and real estate market *can* go up at the same time.

      • wsnNo Gravatar 19. Feb, 2014 at 7:46 pm #

        Yep. If you look at the 70s and early 80s, they go up at the same time for 10 years.

  11. CastledownsNo Gravatar 19. Feb, 2014 at 7:48 pm #

    Natural gas prices crossed the $6 threshold Wednesday as forecasts of more cold weather drove up the value of the futures contract for the fuel.

    link to cbc.ca

    • TonyNo Gravatar 02. Mar, 2014 at 10:35 am #

      The companies should have hedged while they had the chance. In another month natural gas prices will be below $4. Besides the price has nothing to do with fundamentals as could be seen when the manipulators drove the price down to $1.70 two years ago.