Weekly Real Estate Market Update, Mar. 14/14
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 477 (479, 389, 370)
# Sales: 300 (225, 253, 217)
Ratio: 63% (47%, 65%, 59%)
# Price Changes: 147 (140, 126, 98)
# Expired/Off Market Listings: 82 (150, 73, 96)
Net loss/gain in listings this week: 95 (104, 63, 57)
Active single family home listings: 1993 (1907, 1838, 1786)
Active condo listings: 1311 (1275, 1231, 1196)
Homes 4-week running average: $424k ($422k, $414k, $409k)
Condos 4-week running average: $242k ($240k, $245k, $245k)
Big things happening around Edmonton lately – MoneySense named St. Albert the best place to live in Canada this week, and Sherwood Park third best. Calgary was second and Edmonton finished 8th overall (third among large cities after Calgary and Ottawa). Other people are starting to take notice of what’s happening in the Capital City area – Toronto developers are planning some pretty big condo towers downtown. Are we going to end up with too many new condos again, or does it make sense with our large population growth and downtown transformation? Construction of the new arena is officially under way with the north lane of 104 ave blocked for the next 2.5 years. Meanwhile, lots of new listings came on the market this week, but inventory is still lower than the past three years.
Have a great weekend! Don’t drink too much green beer!
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.