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

New listings: 551 (591, 596, 536)
# Sales: 331 (330, 336, 311)
Ratio: 60% (56%, 56%, 58%)
# Price changes: 313 (298, 262, 285)
# Expired/Off Market Listings: 130 (139, 277, 66)
Net loss/gain in listings this week: 90 (122, -17, 159)
Active single family home listings: 3017 (2963, 2895, 2924)
Active condo listings: 2017 (1962, 1882, 1887)
Homes 4-week running average: $400k ($399k, $395k, $393k)
Condos 4-week running average: $237k ($234k, $237k, $234k)

The REALTORS® Association of Edmonton is reporting 1110 sales for the Greater Edmonton area so far this month, which should put us around 2000 for the month (just ahead of last year). Single family home sales are still leading the way, especially homes under $400k. Recent articles show luxury home sales are taking off in some markets, including Calgary, but we are not seeing that trend in Edmonton right now. We are starting to see some sales in areas that were quite slow up to this point. 

Edmonton housing prices

Edmonton real estate listings and sales

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

New listings: 591 (596, 536, 515)
# Sales: 330 (336, 311, 314)
Ratio: 56% (56%, 58%, 61%)
# Price changes: 298 (262, 285, 260)
# Expired/Off Market Listings: 139 (277, 66, 125)
Net loss/gain in listings this week: 122 (-17, 159, 76)
Active single family home listings: 2963 (2895, 2924, 2831)
Active condo listings: 1962 (1882, 1887, 1836)
Homes 4-week running average: $399k ($395k, $393k, $394k)
Condos 4-week running average: $234k ($237k, $234k, $232k)

The REALTORS® Association of Edmonton is reporting 617 sales so far this month, which should put us around 1900 for the month (similar to last year). 

Edmonton real estate prices

Edmonton real estate listings and sales

Have a great weekend!

May the 4th be with you!!!

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

New listings: 596 (536, 515, 493)
# Sales: 336 (311, 314, 245)
Ratio: 56% (58%, 61%, 50%)
# Price changes: 262 (285, 260, 267)
# Expired/Off Market Listings: 277 (66, 125, 82)
Net loss/gain in listings this week: -17 (159, 76, 166)
Active single family home listings: 2895 (2924, 2831, 2809)
Active condo listings: 1882 (1887, 1836, 1764)
Homes 4-week running average: $395k ($393k, $394k, $392k)
Condos 4-week running average: $237k ($234k, $232k, $230k)

When we found out we were expecting twins the spring, we really hoped Luke and Leia would be born today, then Sheldon could proudly proclaim: "Luke, I am your father!" Just kidding... they arrived early and we didn't name them Luke and Leia. 

Anyway, sales continue to increase in Edmonton and this week set another weekly record for sales so far this year. We've talked a lot of stats this week so I'll leave it at that.

Edmonton real estate listings and sales

Edmonton housing prices

Have a great weekend!

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

New listings: 536 (515, 493, 515)
# Sales: 311 (314, 245, 273)
Ratio: 58% (61%, 50%, 53%)
# Price changes: 285 (260, 267, 197)
# Expired/Off Market Listings: 66 (125, 82, 237)
Net loss/gain in listings this week: 159 (76, 166, 5)
Active single family home listings: 2924 (2831, 2809, 2714)
Active condo listings: 1887 (1836, 1764, 1696)
Homes 4-week running average: $393k ($394k, $392k, $389k)
Condos 4-week running average: $234k ($232k, $230k, $232k)

I would describe Edmonton's spring real estate market this year as fairly typical thus far - certainly when compared to the last 5 years as far as sales go.  In certain cases it's difficult to make sense of what the values are since in some areas we are constantly dealing with multiple offers and in others there's very little activity. Sellers can be stubborn about reducing their price when they hear their friends in another area of Edmonton received multiple offers and (according to them) their friends home was way over priced.

Last week we had one multiple offer $30k over list price in Devon and our client still didn't get the property (actually that's a bit of a relief). A property I was supposed to show today that was listed a few days ago in the Riverbend area sold in the high $500's - $19k over list price.  I caution you: this is not the norm for the entire Edmonton market, certain areas and types of housing are in higher demand than others. 

One property we have had listed in Sherwood Park for sometime had no offers in 6 months and we have now had six and counting. If you are a buyer not interested in competing I'd suggest waiting until the fall market, or moving out of the hot zones.  The only downside to that plan is there are often fewer properties on the market as well at that time so selection is reduced.  As it's shaping up it could be a pretty hot summer for single family home sales, and I'm optimistic that we will see improvements in condo sales as condos look more attractive and less over heated.

Edmonton real estate listings and sales

Edmonton home prices

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

New listings: 515 (493, 515, 461)
# Sales: 314 (245, 273, 267)
Ratio: 61% (50%, 53%, 58%)
# Price changes: 260 (267, 197, 212)
# Expired/Off Market Listings: 125 (82, 237, 82)
Net loss/gain in listings this week: 76 (166, 5, 112)
Active single family home listings: 2831 (2809, 2714, 2685)
Active condo listings: 1836 (1764, 1696, 1713)
Homes 4-week running average: $394k ($392k, $389k, $388k)
Condos 4-week running average: $232k ($230k, $232k, $229k)

Notable stats this week: highest sales in a week so far this year by a significant margin (previous high was 273 two weeks ago). Highest ratio of listings to sales so far this year, which is significant since the number of listings was quite high as well. Inventory is on the rise - single family inventory is right in line with last year while condo inventory is gaining more quickly. Average prices for single family homes are well ahead of last year, while condos are about the same. 

Edmonton home prices

Edmonton real estate listings and sales

The REALTORS® Association of Edmonton is reporting 1,008 sales for the Greater Edmonton area so far this month, which should put us around 1700 sales for this month (slightly ahead of least year).

Have a great weekend!

New listings: 493 (515, 461, 522)
# Sales: 245 (273, 267, 239)
Ratio: 50% (53%, 58%, 46%)
# Price changes: 267 (197, 212, 211)
# Expired/Off Market Listings: 82 (237, 82, 125)
Net loss/gain in listings this week: 166 (5, 112, 158)
Active single family home listings: 2809 (2714, 2685, 2631)
Active condo listings: 1764 (1696, 1713, 1649)
Homes 4-week running average: $392k ($389k, $388k, $384k)
Condos 4-week running average: $230k ($232k, $229k, $231k)

There is no comments this week due to the arrival of our new twins! Have a great weekend.

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

New listings: 515 (461, 522, 531)
# Sales: 273 (267, 239, 235)
Ratio: 53% (58%, 46%, 44%)
# Price changes: 197 (212, 211, 211)
# Expired/Off Market Listings: 237 (82, 125, 124)
Net loss/gain in listings this week: 5 (112, 158, 172)
Active single family home listings: 2714 (2685, 2631, 2525)
Active condo listings: 1696 (1713, 1649, 1569)
Homes 4-week running average: $389k ($388k, $384k, $379k)
Condos 4-week running average: $232k ($229k, $231k, $236k)

Edmonton real estate listings and sales

Edmonton real estate prices

Brand new this week: EdmontonRealEstateMarket.com - our newest site shows neighbourhood based real estate stats including listings, sales, average prices and more. We have done over 100 communities so far and we are adding more all the time. We will update each neighbourhood on a quarterly basis (or thereabouts). Plus - each neighbourhood page links to the current MLS listings for that neighbourhood. Check it out!

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

New listings: 461 (522, 531, 486)
# Sales: 267 (239, 235, 231)
Ratio: 58% (46%, 44%, 48%)
# Price changes: 212 (211, 211, 192)
# Expired/Off Market Listings: 82 (125, 124, 102)
Net loss/gain in listings this week: 112 (158, 172, 153)
Active single family home listings: 2685 (2631, 2525, 2371)
Active condo listings: 1713 (1649, 1569, 1525)
Homes 4-week running average: $388k ($384k, $379k, $377k)
Condos 4-week running average: $229k ($231k, $236k, $234k)

Price changes sure are holding steady! The REALTORS® Association of Edmonton is reporting 1453 sales so far this month for the greater Edmonton Area - we'll see the final numbers next week. 

Mortgage rates are on the rise this week, but there were no changes to lending rules in the Federal Budget that came out yesterday. According to a BMO study, Albertans are the least concerned about rising rates affecting affordability amongst Canadians (73% of Albertans said rising rates will not affect their ability to afford their homes, compared to 43% nationally).

Meanwhile, Enbridge singlehandedly reduced the downtown commercial vacancy rate by 2% by leasing over 200,000 square feet in the past 5 months. They plan to hire about 2000 people in 2012, and a significant portion of the positions will be in Edmonton.

Edmonton real estate prices

Edmonton real estate listings and sales

Have a great weekend!

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

New listings: 522 (531, 486, 483)
# Sales: 239 (235, 231, 256)
Ratio: 46% (44%, 48%, 53%)
# Price changes: 211 (211, 192, 186)
# Expired/Off Market Listings: 125 (124, 102, 216)
Net loss/gain in listings this week: 158 (172, 153, 11)
Active single family home listings: 2631 (2525, 2371, 2279)
Active condo listings: 1649 (1569, 1525, 1430)
Homes 4-week running average: $384k ($379k, $377k, $374k)
Condos 4-week running average: $231k ($236k, $234k, $228k)

Edmonton real estate listings and sales

Edmonton real estate prices

The REALTORS® Association of Edmonton is reporting 1055 sales for the Greater Edmonton Area so far this month, which should put us at about the same level as last year. 

In other real estate related news, Canadian Finance Minister Jim Flaherty said we should not expect any new measures in next week's budget to cool housing prices, and that he'd like to see if the market will correct itself as it is already showings signs of doing.

Meanwhile CMHC reports that Ottawa will not raise the limit on the amount of mortgages insured by CMHC of $600 billion, dramatically shrinking the growth of their portfolio. To put this in perspective, CMHC's outstanding insurance rose $170 billion between 2007 and 2010, and they expect it to rise only $30.8 billion between 2011 and 2014. Because CMHC is approaching its limit, it is rationing the amount of portfolio insurance that it sells banks to insure pools of mortgages. Spokesman Charles Sauriol said it is giving priority to insurance for individual homes:

“The allocation of CMHC’s portfolio insurance does not affect the availability of CMHC’s mortgage loan insurance for qualified home buyers and will not impact the cost of buying a house.”

The rationing could affect some lenders, and prompt them to charge more for mortgages.

The BC government is apparently in favour of keeping the market hot, by handing out cash to first time home buyers. The bonus, is a one-time refundable personal tax credit, equal to five per cent of the purchase price of a home to a maximum of $10,000, was announced last month in the provincial budget.

These are all examples of "external forces" that put pressure on the market that we often discuss here on the blog.

Have a great weekend!

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

New listings: 531 (486, 483, 351)
# Sales: 235 (231, 256, 184)
Ratio: 44% (48%, 53%, 52%)
# Price changes: 211 (192, 186, 146)
# Expired/Off Market Listings: 124 (102, 216, 70)
Net loss/gain in listings this week: 172 (153, 11, 97)
Active single family home listings: 2525 (2371, 2279, 2244)
Active condo listings: 1569 (1525, 1430, 1422)
Homes 4-week running average: $379k ($377k, $374k, $371k)
Condos 4-week running average: $236k ($234k, $228k, $225k)

The REALTORS® Association of Edmonton is reporting 666 sales so far this month for the Greater Edmonton Area, which should put us around 1400-1500 for the month (below average for March). We were expecting pretty strong sales in March so we'll have to see how the second half of the month goes.  

Edmonton real estate prices

Edmonton real estate listings and sales

Have a great weekend!