Weekly 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: 436 (486, 495, 447)
# Sales: 318 (346, 272, 316)
Ratio: 73% (71%, 55%, 71%)
# Price Changes: 252 (281, 250, 249)
# Expired/Off Market Listings: 147 (140, 230, 268)
Net loss/gain in listings this week: -29 (0, -7, -137)
Active single family home listings: 2886 (2893, 2906, 2823)
Active condo listings: 1657 (1669, 1680, 1669)
Homes 4-week running average: $435k ($433k, $431k, $429k)
Condos 4-week running average: $251k ($249k, $256k, $256k)
The biggest thing in the Edmonton real estate market came from City Hall this week, with city council voting to allow “skinny houses“ and garage or garden suites in all single family neighbourhoods with RF1 zoning. If all goes according to plan, owners will be able to sub-divide lots as narrow as 25 feet, after a public hearing next winter. In the meantime city council will look at revamping the entire zoning code, suggesting the code code be seriously simplified. Developers didn’t get everything they wanted, but this is the most recent example of the city working to increase density and curb urban sprawl.
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.