Weekly Market Update, May 9/14
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: 664 (615, 451, 567)
# Sales: 346 (369, 296, 411)
Ratio: 52% (60%, 65%, 72%)
# Price Changes: 284 (220, 178, 155)
# Expired/Off Market Listings: 90 (207, 67, 84)
Net loss/gain in listings this week: 228 (39, 91, 72)
Active single family home listings: 2532 (2372, 2349, 2274)
Active condo listings: 1607 (1519, 1494, 1462)
Homes 4-week running average: $426k ($426k, $419k, $422k)
Condos 4-week running average: $252k ($251k, $250k, $248k)Well hello new listings! Where have you been all spring? We’ve missed you!
Seriously though, that’s a big jump in listings. I’m seeing little signs here and there that we might have a new trend of rising inventory starting. It’s much needed, as there is still quite a lot of demand out there, but if it rises too much or too quickly it could take the wind out of the market.
We just got access to these cool new “heat maps” that show us a map representation of the market. This one shows the number of new listings in the past 30 days by area with the red areas being hotter and the green ones cooler. Seems to be a lot of new listings in the central area and outer limits – the space between is cooler.
Sales show a similar pattern but there are some interesting differences:
I know buyers looking in Sherwood Park and St. Albert will be relieved to see some listing activity there, but I hear things are pretty crazy out there.
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.