Edmonton Real Estate Market Weekly Update – Jan. 7/11
Edmonton Real Estate 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: 270 (71, 152, 170)
# Sales: 106 (91, 167, 130)
Ratio: 39% (128%, 110%, 76%)
# Price changes: 93 (29, 77, 79)
# Expired/Off Market Listings: 643 (199, 189, 195)
Net loss/gain in listings this week: -479 (-219, -204, -155)
Active single family home listings: 1776 (2009, 2108, 2209)
Active condo listings: 1185 (1322, 1389, 1467)
Homes 4-week running average: $354k ($350k, $359k, $366k)
Condos 4-week running average: $215k ($218k, $225k, $232k)
So we are starting out the year with 1776 family homes on the market, compared to 1185 at the beginning of 2010 and 2258 in '09. What's interesting is condo inventory is about the same - 1185 this year, 1118 last year and 1554 in '09.... I'm not sure what the reason for that is.
Edmonton real estate listings and sales
The running average price for single family homes turned around this week after dropping for 4 straight weeks. I have changed the chart tracking the average prices so the single family home prices are on the left axis, and condos are the on the right - I think this makes it easier to compare what is happening with the prices - let me know if you think this is confusing.
Edmonton average home prices
We are still finishing up our annual report and hope to have it out to subscribers soon - subscribe for free today so you don't miss out.
Also - next Wednesday we will be attending the annual Housing Forecast Seminar. We will again be live blogging from the seminar so watch the blog for forecasts and trends from industry experts.
Enjoy the beautiful snow this weekend!