Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 581 (492, 462, 474)
# Sales: 327 (334, 330, 289)
Ratio: 56% (68%, 71%, 61%)
# Price Changes: 186 (161, 153, 165)
# Expired/Off Market Listings: 59 (167, 79, 88)
Net loss/gain in listings this week: 195 (-9, 53, 97)
Active single family home listings: 2234 (2120, 2104, 2090)
Active condo listings: 1424 (1350, 1371, 1333)
Homes 4-week running average: $422k ($431k, $431k, $430k)
Condos 4-week running average: $248k ($247k, $243k, $245k)
The average price for single family homes took a bit of a nose dive this week! I had a quick look into the numbers and there was a slight increase in sales of homes at the bottom of the market, and the same number of homes over $1million sold in the past 30 days as did the 30 days worth reported last week. So, either prices have come down (doubtful) or there was an increase in sales the mid to lower price range that brought the overall average down. The median was $389k last week and $387,500 for the past 30 days. We will keep an eye on it!
Have a great weekend!