Weekly Market Update, June 27/14

happycanadaday
Happy Canada Day

Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:

New Listings: 518 (586, 610, 604)
# Sales: 358 (381, 401, 408)
Ratio: 69% (65%, 66%, 68%)
# Price Changes: 320 (288, 312, 310)
# Expired/Off Market Listings: 118 (114, 105, 198)
Net loss/gain in listings this week: 42 (91, 104, -2)
Active single family home listings: 2948 (2935, 2851, 2765)
Active condo listings: 1802 (1783, 1743, 1711)
Homes 4-week running average: $426k ($429k, $435k, $435k)
Condos 4-week running average: $256k ($258k, $260k, $253k)

And so the annual summer exodus from the city begins... this is when the market usually takes a marked turn downwards, as families focus on vacations, not finding homes. 

This weekend is also typically the busiest weekend of the year for conveyancers, movers, and condo elevator bookings as everyone seems to want to take possession of their new homes on the last weekend of June. 

ListingsandSales 3
Listings and Sales
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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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20 Responses to “Weekly Market Update, June 27/14”

  1. shawnNo Gravatar 28. Jun, 2014 at 7:29 am #

    It looks like we may peak about $3,000 higher than last year for condo average price. I’ve been reading weekly blogs for months about our amazing sales and how prices are on move. Edmonton is a horrible place to invest and no matter how long we talk about being 12 to 18 months behind Calgary that does not mean normal 7 to 10% growth will happen here. Calgary has been increasing for years at a much faster rate than Edmonton. Even when the properties look unaffordable Calgary still manages to outperform Edmonton by leaps. Thankfully rental rates have increased, but really I wish I had my cash to invest in the stock market where an investor that is educated in risk could make some decent ROI as ill just say it…..Edmonton….sucks.

    • gregNo Gravatar 28. Jun, 2014 at 8:13 am #

      Let’s get Shawn a tissue. Maybe you should go somewhere else if it sucks so bad.

      • shawnNo Gravatar 28. Jun, 2014 at 8:40 am #

        Greg,
        Did I sound unhappy? My post does not indicate that I am unhappy or sad, but not happy with the money that originally made me wealthy in Edmonton (I want to be wealthier…can you handle that). Why would any “real” investor manipulate the facts about a city that is under performing when it should be pulling in higher numbers considering the Economy. Edmonton sucks for investing…can you not read? Are you the type of guy that puts your money into a stock and lets it sit at 5% growth and does not think that sucks….poor guy?

        • gregNo Gravatar 28. Jun, 2014 at 9:11 am #

          Yeah , you kind of do sound unhappy, or just bitter. I’m sure you shed the odd tear over you’re under-performing portfolio though. Be grateful for what you do have, for tomorrow it may be gone. True Dat B.

          You said Edmonton made you wealthy at one point, I guess smart money would of went somewhere else. It’s rare someone wins the lottery twice, isn’t it?

          No, I’m not poor. I rent out my two houses and work. It’s not my main focus to get uber rich and have 12% growth year after year. Like I’m entitled to it and then bit*h about it publicly when i only get 5%.

          Just offered you a tissue is all.

          • shawnNo Gravatar 28. Jun, 2014 at 11:31 am #

            Greg,
            your ignorance is obvious. I never said I got 5% growth. I’m going to stop wasting my time. The intelligent posters are rarely here anyway anymore. Its easy to spot the losers that are easily offended….

        • GMNo Gravatar 28. Jun, 2014 at 2:18 pm #

          “Shawn”, you sounds suspiciously like someone else who posts on here regularly.

          I suspect you’re the same person, but have signed in with a different name.

    • ArfmooocatNo Gravatar 28. Jun, 2014 at 8:21 am #

      Edmonton….sucks.

      Yup it does… but try rural Alberta, one small hicksville town after another that offer absolutely dick. Wetaskiwin to Bonneyville to Provost to Vulcan… That’s where my new job takes me.

      • gregNo Gravatar 28. Jun, 2014 at 8:24 am #

        Lets get out another tissue for Arfmoocat. Try looking on the bright side of life, or, move somewhere that makes you happy.
        If there is such a place.

  2. tchoNo Gravatar 28. Jun, 2014 at 10:24 am #

    It’s sort of sad when people take this approach – they want to focus on the negative. If that’s what you’re expecting, guess what you’ll “get?” Anywhere has its problems/downsides. Lots of great things about Edmonton, but if you don’t want to see them, no one can make you.

    On the brighter side, we just sold our house for a $37k profit in 6 years, and upgraded to a nice condo on Edmonton’s beautiful river valley (which we negotiated a good price on). Life is good. :-)

    • ArfmooocatNo Gravatar 28. Jun, 2014 at 12:29 pm #

      Made $500 a month over those 6 years and probably paid $500 more a month than you would have renting it.

      • ArfmooocatNo Gravatar 28. Jun, 2014 at 12:52 pm #

        I’m assuming that’s 37K net profit after real estate fees, lawyers and maintenance repairs.

  3. gregNo Gravatar 28. Jun, 2014 at 12:07 pm #

    Shawn,

    I don’t remember calling anyone any names, i was merely offering you a suggestion and a tissue for your obvious displeasure with your Edmonton investments. Seems you are the sensitive one.
    [comment truncated]
    link to youtube.com

  4. LesNo Gravatar 29. Jun, 2014 at 8:36 am #

    Moved from Calgary, I realized that Edmontonians are a lot nicer than Calgarians for one lol.
    It is a lot more relaxing in Edmonton vs. Calgary.

    • GMNo Gravatar 29. Jun, 2014 at 10:27 am #

      You obviously haven’t met some of the people on this board…

      Of course, we don’t really know where they’re from. Could be from Calgary!

  5. SpudNo Gravatar 29. Jun, 2014 at 5:06 pm #

    First rule of property investing – location, location, location. Edmonton is in the right proximity for oil and as such the economy kicks along nicely which puts a natural floor under real estate prices. Is the weather great? No sane person would argue that is a positive for Edmonton. Does it have nice views of the beach or mountains or easy access? Not really although some nice views of the river. Really when it comes down to it, the biggest thing going for Edmonton is Oil. I’m not saying that is a bad thing. Better than having nothing going for it. Compare that to Calgary and it is almost the same except Calgary has easy access to some of the most recognisable and picturesque mountains in the world.

  6. SpudNo Gravatar 30. Jun, 2014 at 12:09 am #

    Joe some of the stuff in there I agree with – weather appalling, coffee makes the weather seem good. Some of your comments I thought I was reading some modern poetry or an Eminem song:

    “how many handsome welders, electricians, mechanics with scent of the sweat on their backs.. …they have to make monthly payments for this Edmonton Shack”.

    One thing I don’t understand though. If you think Edmonton is such a hole why do you live there? I’m not a big fan of it either. I have family there but have moved away for better weather, life style, job etc.

    If it isn’t possible for you to move then try and embrace it. It will be a sorry life living somewhere you seem to really dislike.

    • Sara MacLennanNo Gravatar 30. Jun, 2014 at 12:05 pm #

      Joe is not welcome here. He/she manages to make comments even though I’ve repeatedly blocked him/her, and deleted all previous comments. Joe is a troll. Please don’t encourage Joe by responding to his/her rants. When I delete Joe’s comments it makes your replies look awfully strange. I’m going to edit/remove any comments that make no sense with Joe’s comments gone. Please don’t take it personally.

  7. GMNo Gravatar 30. Jun, 2014 at 12:18 am #

    I think Joe has been given access to a computer with internet at the mental institution he resides in.

  8. 123kidNo Gravatar 30. Jun, 2014 at 10:06 am #

    [comment truncated]
    link to edmontonjournal.com

    Canada’s population grew by 1.2 per cent in 2012, versus just 0.8 per cent in the U.S., and 0.2 per cent in the eurozone. Japan’s population, on the other hand, has shrunk for six straight years. The big reason? Immigration. Newcomers accounted for fully 60 per cent of Canada’s population growth last year, he (Stefane Marion, chief economist and strategist at Montreal-based National Bank) says, far more than the U.S. or Europe. What’s more, 55 per cent of those newcomers are between the ages of 20 and 44, when many are launching careers, getting married, starting families, and yes, buying new homes.
    Looking ahead, Marion says he expects those demographic trends to continue over the next five years. In the key 20-to-44-year age cohort, he expects India to lead all nations in population growth, at seven percent, followed by Canada, at four per cent…
    “Alberta would be just behind India, at six per cent. So that shows you how potent this growth is for Alberta. Alberta actually has the dynamics or properties you’d normally see in emerging economies.”

    • ArfmooocatNo Gravatar 30. Jun, 2014 at 4:28 pm #

      A year old article, 75% of those immigrants were TFW’s working at Tim Hortons.

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