Weekly Real Estate Market Update, Nov. 18/16
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 432 (409, 388, 354)
# Sales: 172 (195, 193, 279)
Ratio: 40% (48%, 50%, 79%)
# Price Changes: 280 (312, 366, 332)
# Expired/Off Market Listings: 194 (191, 432, 181)
Net loss/gain in listings this week: 66 (23, -237, -106)
Active single family home listings: 2,883 (2,898, 2,893, 3,033)
Active condo listings: 2,304 (2,326, 2,302, 2,378)
Homes 4-week running average: $434k ($430k, $423k, $418k)
Condos 4-week running average: $246k ($247k, $250k, $249k)
So, it looks like mortgage rates are going up, which is a bit concerning considering CMHC’s recent “stress test.” That said, rates are still below 3%, which, is pretty awesome. Are rates likely to continue to rise? That remains to be seen, but if you’re thinking of buying in the next few months, you should definitely get a rate hold.
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.