Edmonton Real Estate Market Weekly Update – June 18, 2010
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: 560 (599, 594, 504)
# Sales: 262 (271, 245, 245)
Ratio: 47% (45%, 41%, 49%)
# Price changes: 413 (421, 412, 332)
# Expired/Off Market Listings: 212 (173, 302, 142)
Net loss/gain in listings this week: 86 (155, 47, 142)
Active listings for single family homes: 3259 (3185, 3083, 3045)
Active listings for condos: 2249 (2212, 2151, 2147)
The REALTORS® Association of Edmonton is reporting 992 sales so far this month, which should put us around 1700-1800 for the month (below average). The average residential sale price sits at $339k (same as last month), single family homes at $384k (same as last week and down $4k from last month) and condos at $246k (down $2k from last month).
Edmonton Real Estate Market Weekly Update – June 11, 2010
EdmontonRealEstateMarketUpdate
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New listings: 599 (594, 504, 610)
# Sales: 271 (245,245, 303)
Ratio: 45% (41%, 49%, 50%)
# Price changes: 421 (412, 332, 396)
# Expired/Off Market Listings: 173 (302, 142, 149)
Net loss/gain in listings this week: 155 (47, 142, 158)
Active listings for single family homes: 3185 (3083, 3045, 2972)
Active listings for condos: 2212 (2151, 2147, 2108)
The REALTORS® Association of Edmonton is reporting 599 sales so far this month, which should put us around 1700-1800 for the month (below average). The average residential sale price sits at $337k (down $2k from last month), single family homes at $384k (down $4k from last month) and condos at $244k (down $4k from last month).
Edmonton residential real estate listings and sales
Inventory continues to climb, we are well above last year's levels but still well behind what we saw in 2008. We expect to see lots of expired listings by the end of this month which could bring inventory down a bit, we'll have to wait and see.
Edmonton single family home inventory
Looks like it's going to be a beautiful weekend in Edmonton, hope you enjoy it!
Edmonton Luxury home market surges
The average residential sale price of Single family homes increased significantly in Edmonton in May, 2010. This was unexpected, but don’t get too excited as averages can be very misleading. It looks like the average was thrown off by a higher number of luxury sales – there were nearly twice as many sales of high end homes in Edmonton in May than there were in April. We’ll have a closer look at the high end market next week.
Edmonton Average Residential Sale Price
The average condo sale price meanwhile remained relatively unchanged. The average price per square foot of both single family homes and condos remained relatively unchanged as well, homes increased from $269/square foot in April to $271/square foot in May, and condos remained the same at $235/square foot.
Edmonton Real Estate Price per Square Foot
As expected sales of single family homes have fallen back to 2008 levels and are certainly below average. We expect sales to follow a seasonal pattern in line with 2008 – unless something big happens we don’t see anything dramatically influencing sales.
Edmonton Single Family Home Sales
Condo sales dropped below even 2008 levels at a time of year when they are nornally on the rise:
Edmonton Condo Sales
As always this report reflects only Edmonton MLS® sales, when the numbers are released for the entire MLS® by the REALTORS® Association of Edmonton we will post our final monthly report for May.