Weekly Market Update, June 20/14

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: 586 (610, 604, 559)
# Sales: 381 (401, 408, 362)
Ratio: 65% (66%, 68%, 65%)
# Price Changes: 288 (312, 310, 295)
# Expired/Off Market Listings: 114 (105, 198, 117)
Net loss/gain in listings this week: 91 (104, -2, 80)
Active single family home listings: 2935 (2851, 2765, 2767)
Active condo listings: 1783 (1743, 1711, 1693)
Homes 4-week running average: $429k ($435k, $435k, $438k)
Condos 4-week running average: $258k ($260k, $253k, $252k)

We've been in Jasper all week at an AREA Leadership Conference, so I don't have much first hand knowledge of what happened in Edmonton this week. Heard some interesting stories about what's happening in the rest of Province, Calgary's market is much hotter than ours, which is still well ahead of last year. Everywhere in the province, well priced and marketed properties are selling very quickly, while over priced properties are sitting on the market, often for months. We've definitely noticed the higher end of the market is starting to move - tried showing a client a number of $1 million plus listings last weekend and they were all pending.

EdmontonHomePrices 2
Edmonton Home Prices
ListingsandSales 2
Listings and Sales

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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9 Responses to “Weekly Market Update, June 20/14”

  1. a common guyNo Gravatar 20. Jun, 2014 at 1:00 pm #

    Yes, from what I see $1M+ houses don’t take long to go (especially new ones). Either these are mover-uppers or some wealthy people are moving here!

  2. featNo Gravatar 20. Jun, 2014 at 7:23 pm #

    A strange phenomenon happened in Calgary in June by far, the average price was going up, in the mean time, the median price was lower than last month. what does it indicate?

    • wsnNo Gravatar 23. Jun, 2014 at 8:38 am #

      It’s indicated that you have a short attention span.
      BTW, where did you learn your English?

      • FeatNo Gravatar 24. Jun, 2014 at 6:55 am #

        How many kinds of language can u speak besides ur mother language?

  3. Karl HungusNo Gravatar 20. Jun, 2014 at 8:50 pm #

    Luxury houses are selling, brings the average up but not necessarily the median.

  4. CastledownsNo Gravatar 22. Jun, 2014 at 11:58 am #

    Question regarding your chart:

    Left is the “home”, right is “condo”. Where do you put “townhouses”, “duplexes”, etc… ?

    • Nathan MolNo Gravatar 24. Jun, 2014 at 3:40 pm #

      Hi Castledowns, townhouses are included in the condo category and half-duplexes (also called “semi-detached” by some people including the City of Edmonton planning dept) are categorized in the single family home category.

      Since technically “single family home” vs “condo” is a difference in legal ownership classification rather than property style it could be possible for them to actually be either of those two, but in reality here in Alberta these are the two ownership classifications each of those two styles usually fall under (there are some half duplexes that are condos, but very rarely townhouses that are not condos).

      I hope this helps!

      Nathan

  5. SpudNo Gravatar 24. Jun, 2014 at 4:43 pm #

    wsn why do you need to ask about a persons English skills? This is a real estate blog not an English competition. Personal derogatory comments are normally a sign of a lower than average intelligence.

    • wsnNo Gravatar 25. Jun, 2014 at 10:04 am #

      Spud, where did you learn your English?