Written by Adam Sullivan on July 8, 2011.
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New listings: 474 (487, 500, 547)
# Sales: 259 (289, 297, 295)
Ratio: 55% (59%, 59%, 54%)
# Price changes: 255 (324, 312, 349)
# Expired/Off Market Listings: 403 (421, 150, 177)
Net loss/gain in listings this week: -188 (-223, 53, 75)
Active single family home listings: 3141 (3086, 3216, 3204)
Active condo listings: 1858 (1832, 1925, 1868)
Homes 4-week running average: $387k ($384k, $387k, $388k)
Condos 4-week running average: $225k ($225k, $229k, $236k)
Condos don’t seem to be performing nearly as well as single family homes. I assume this is still a result of the over building that occurred in 2007-2008 keeping supply higher than demand. Our impression is that townhouse style condos are performing better than apartment style, again because of over supply.
On an unrelated topic, the rent VS buy debate that has been going on in the comments for what seems like months has gotten very old. I
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Written by Adam Sullivan on June 26, 2011.
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New listings: 500 (547, 563, 549)
# Sales: 297 (295, 329, 323)
Ratio: 59% (54%, 58%, 59%)
# Price changes: 312 (349, 351, 345)
# Expired/Off Market Listings: 150 (177, 156, 326)
Net loss/gain in listings this week: 53 (75, 78, -100)
Active single family home listings: 3216 (3204, 3129, 3042)
Active condo listings: 1925 (1868, 1862, 1832)
Homes 4-week running average: $387k ($388k, $390, $383k)
Condos 4-week running average: $229k ($236k, $237k, $238k)
The REALTORS® Association of Edmonton is reporting 1328 sales so far this month which should put us around 1650 sales for June (about the same as last year). The average condo price seems to have taken a hit this month, dropping about $10k over the past 4 weeks. Con
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Written by Adam Sullivan on July 6, 2010.
Inventory continued its climb in Edmonton in June, reaching the second highest level for June on record. Last month we thought we were close to the peak of inventory, but we didn’t know sales would slow as much as they did this month. The REALTORS® Association of Edmonton released the June sales stats today calling the market “normal.”
“External influences pulled sales activity into the first four months of the year which reduced the demand in May and June. Overall there were 680 less residential sales in the first half of the year as compared to 2009,” said Larry Westergard, president of the REALTORS® Association of Edmonton. “Consumers still seem interested in getting into the housing market or moving up but seem to be resting after a confusing period of uncertainty and change in the conditions that surround a property purchase.”
The number of new listings slowed substantially, almost back to normal levels:
So the jump in inventory is mostly due to low sales. Based on th
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