Weekly Market Update, June 13/14

EdmontonRealEstateMarketUpdate
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: 610 (604, 559, 548)
# Sales: 401 (408, 362, 347)
Ratio: 66% (68%, 65%, 63%)
# Price Changes: 312 (310, 295, 244)
# Expired/Off Market Listings: 105 (198, 117, 96)
Net loss/gain in listings this week: 104 (-2, 80, 105)
Active single family home listings: 2851 (2765, 2767, 2702)
Active condo listings: 1743 (1711, 1693, 1688)
Homes 4-week running average: $435k ($435k, $438k, $438k)
Condos 4-week running average: $260k ($253k, $252k, $247k)

Sales remain well ahead of the past few years. The average sale price for condos has almost reached the peak set back in 2007, I don't think we're going to match that price this year, but who knows?

ListingsandSales 1
Listings and Sales
EdmontonHomePrices 1
Edmonton Home Prices

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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22 Responses to “Weekly Market Update, June 13/14”

  1. jimNo Gravatar 13. Jun, 2014 at 1:21 pm #

    yah. more poor people like me will have to buy condos.

    Just bought a townhouse of 1850 sqft with double garage attached. Never thought a townhouse could be so functional. The seller accept our offer at305k, and took another higher offer (310k) as backup. My realtor told us that the seller likes us and even wanted to meet our family…can’t believe it. never happen to me before. Is that because i got my haircut at the right time (two days before we saw the house and the seller)? or someone is not telling the truth?

    • ArfmooocatNo Gravatar 13. Jun, 2014 at 9:47 pm #

      What are the condo fees on a townhouse nowadays?

      • jimNo Gravatar 13. Jun, 2014 at 11:18 pm #

        350$ a month

  2. 123kidNo Gravatar 13. Jun, 2014 at 2:42 pm #

    Thanks Sara for this week’s breakdown.

    Congrats jim on the purchase of your townhouse; seems a haircut these days can save you a few grand….

  3. JohnNo Gravatar 13. Jun, 2014 at 4:00 pm #

    Jim congrats on your new purchase. The feeling of owning your own home is nothing like renting. No more rental increases, and if you improve the house, it’s yours. The shitty thing is after a couple of years, the landlord wants his house back and you have to move. Nothing sucks more than moving when you don’t want to.

    • jimNo Gravatar 13. Jun, 2014 at 11:14 pm #

      Thank you, John. Always read and appreciate your posts here.
      One good thing being a renter is that you don’t have to watch out the economy. Bad economy may even bring you lower rent.

      As owners, lets hope oil sands booming will last for some years ahead.

      Hi Arf, the condo fee is 350 per month. It is a pain in the ..

    • tgreeNo Gravatar 14. Jun, 2014 at 12:55 am #

      …except not finding a buyer when you do want to move.

      • wsnNo Gravatar 14. Jun, 2014 at 7:35 am #

        If you are OK with a mere 600k net profit, instead of 625k profit, the house will sell fast.

        • jimNo Gravatar 14. Jun, 2014 at 9:57 am #

          how to do that?

  4. EdmongolianNo Gravatar 14. Jun, 2014 at 11:44 am #

    OK, who is correct: “Edmonton: Even though 13 fools bought houses worth over $1 million last month, the average price of a single-family home in Edmonton fell in April.” -Greater Fool blog on May 5th 2014. link to greaterfool.ca

    The graph from the Edmonton Real Estate Blog shows the opposite:

    link to edmontonrealestateblog.com

    Hard to know what to believe. I’m not sure which is correct, anyone have any insight?

    • wsnNo Gravatar 14. Jun, 2014 at 9:27 pm #

      You call people who can afford a million dollar house fools? Doesn’t that only serve to push your own grade several ticks below fools?

    • shawnNo Gravatar 15. Jun, 2014 at 5:24 am #

      I was wondering the same as ereb stats have different numbers from this blog. Numbers should be consistent or at least similar with sales and average prices. This question is best answered by Sara or one of the authors of the weekly stats, but I have not gotten a response. Keep posting this question and see if you get a valid response for them to back their stats.

  5. a common guyNo Gravatar 14. Jun, 2014 at 11:21 pm #

    Yeah, I think whoever has money is a fool, if you buy a house “worth over $1M” you are a fool, LOL!!

  6. DougNo Gravatar 14. Jun, 2014 at 11:27 pm #

    Here’s from Bob Truman’s blog:

    Apr 2014 Ave: $428,632 Median: $400,500

    Apr 2013 Ave: $406,452 Median: $380,000

    Garth’s stats don’t make any sense.

    • TonyNo Gravatar 19. Jun, 2014 at 3:32 pm #

      New home prices were down April 2014 over April 2013 year over year in Edmonton by 0.1 percent as quoted by the Financial Post newspaper. You have to believe when the bottom falls out of the Greater Toronto area and Vancouver and Victoria meaning at least a 50 percent pullback it will seriously affect all of Alberta estate negatively.

      • gregNo Gravatar 19. Jun, 2014 at 4:40 pm #

        At least a 50% pullback, righty-o then, heck why not just say 90%?

        Highly unlikely Tony

  7. jimNo Gravatar 15. Jun, 2014 at 11:36 am #

    UP UP and UP, that is the trend of RE. a new run just start in o-i-l market. but i dont know where to find cash.

  8. AmcNo Gravatar 15. Jun, 2014 at 7:55 pm #

    Heck if people are called fools for buying a house in Edmonton for over a million I feel pretty stupid for owning a $1.25million vacation home on the coast. Let alone my house in the Edmonton area. Obviously opinions and comments from who aren’t happy with what they own.

    • shawnNo Gravatar 15. Jun, 2014 at 8:43 pm #

      Chill out and get over yourself. The fact that his comment bothered you is
      embarrassing. Had you checked his reference with a few minutes of your time you would have found that he simply copied and pasted his reference from an article. Easy and sensitive readers…..haha

    • shawnNo Gravatar 15. Jun, 2014 at 8:46 pm #

      As well the “fool” reference is based on the website. Not too bright either….

  9. JohnNo Gravatar 15. Jun, 2014 at 8:43 pm #

    Not sure why people are so surprised houses selling for one million. Any brand new house in Glenora, Crestwood, even Westmount, house are close to million. In Glenora, a couple of developers are trying to change the zoning to RF2, so that will make the 50′ foot lots even more expensive and most houses in Glenora are that big, especially Old Glenora.

    If you go by Summerside, so many new houses over $600,000 are getting sold. Hoping market takes off like Calgary, so I can get rid of my Inglewood house 1,200 sqft, 46′ foot RF3 zoning for a good price.

  10. Karl hungusNo Gravatar 19. Jun, 2014 at 9:05 pm #

    Has a 35% rise in Toronto real estate affected edmonton ? No. Then why would a drop?