This morning, the REALTORS® Association of Edmonton hosted its Annual Housing Forecast, and I'm excited to bring you these insights. Specifically, we'll be diving into the presentation by Shaun Cathcart, Director & Senior Economist, Housing Data and Market Analysis at the Canadian Real Estate Association (CREA).

Long story short, Mr. Cathcart predicts a booming real estate market for Edmonton in 2024. He started his presentation by discussing interest rates, sharing that many economists anticipate the Bank of Canada will begin lowering interest rates in the latter half of this year. While only 1 or 2 rate cuts for this year were predicted as recently as November, the current expectation now stands at 4-6 rate cuts by year-end, which would make a…

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

New Listings: 330 (244, 132, 223)
Sales: 238 (162, 151, 272)
Ratio: 72% (66%, 114%, 122%)
Price Changes: 116 (131, 55, 107)
Expired/Off-Market Listings: 138 (429, 87, 224)
Net loss/gain in listings this week: -46 (-347, -106, -273)
Active single-family home listings: 1883 (1902, 2101, 2150)
Active condo listings: 1084 (1100, 1299, 1252)
Homes 4-week running average: $458 ($461, $467, $453)
Condos 4-week running average: $206 ($209, $209, $206)


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Our mild winter has finally come to an end. In a winter where -5 has felt cold, we’re going to be in for a shock this coming week. Extreme cold temperatures are around the corner, with lows hitting -37. Brrr! It's time to ensure our homes are ready for winter's chilly embrace. Just like we bundle up in cozy scarves and warm coats, our homes also need some extra care during periods of extreme cold. Proper maintenance is the key to keeping our beloved abodes safe, comfortable, and cozy when the temperatures drop. So grab a cup of hot cocoa, friends, and let's dive into some essential tips for preparing and maintaining your home during the cold winter months.

Seal & Insulate

Sealing your home tight is just as important as a warm hug on a frosty day.…

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We saw an impressive surge in sales in the Greater Edmonton Area in December compared to a year previous, with a staggering 23.5% increase. New listings also experienced a remarkable 24% increase, giving buyers a wider range of choices to explore. Even with the jump in new listings, end-of-month inventory dropped 8% year-over-year, which remained well below the historical norm.

With 3.76 months of inventory, we find ourselves just under the 4-month threshold for a balanced market. In other words, it's still a seller's market, providing those looking to sell their homes with an advantageous position.

Across the board, benchmark prices have seen a positive upward trend. Single-family homes experienced a steady 3.5% increase in benchmark prices, while…

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

New Listings: 244 (132, 223, 260)
Sales: 162 (151, 272, 241)
Ratio: 66% (114%, 122%, 93%)
Price Changes: 131 (55, 107, 219)
Expired/Off-Market Listings: 429 (87, 224, 140)
Net loss/gain in listings this week: -347 (-106, -273, -121)
Active single-family home listings: 1902 (2101, 2150, 2253)
Active condo listings: 1100 (1299, 1252, 1321)
Homes 4-week running average: $461 ($467, $453, $455)
Condos 4-week running average: $209 ($209, $206, $207)

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

New Listings: 132 (223, 260, 424)
Sales: 151 (272, 241, 302)
Ratio: 114% (122%, 93%, 71%)
Price Changes: 55 (107, 219, 185)
Expired/Off-Market Listings: 87 (224, 140, 349)
Net loss/gain in listings this week: -106 (-273, -121, -227)
Active single-family home listings: 2101 (2150, 2253, 2317)
Active condo listings: 1299 (1252, 1321, 1357)
Homes 4-week running average: $467 ($453, $455, $454)
Condos 4-week running average: $209 ($206, $207, $209)

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

New Listings: 223 (260, 424, 328)
Sales: 272 (241, 302, 337)
Ratio: 122% (93%, 71%, 103%)
Price Changes: 107 (219, 185, 237)
Expired/Off-Market Listings: 224 (140, 349, 391)
Net loss/gain in listings this week: -273 (-121, -227, -400)
Active single-family home listings: 2150 (2253, 2317, 2321)
Active condo listings: 1252 (1321, 1357, 1324)
Homes 4-week running average: $453 ($455, $454, $457)
Condos 4-week running average: $206 ($207, $209, $205)

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

New Listings: 260 (424, 328, 330)
Sales: 241 (302, 337, 304)
Ratio: 93% (71%, 103%, 92%)
Price Changes: 219 (185, 237, 210)
Expired/Off-Market Listings: 140 (349, 391, 195)
Net loss/gain in listings this week: -121 (-227, -400, -169)
Active single-family home listings: 2253 (2317, 2321, 2466)
Active condo listings: 1321 (1357, 1324, 1453)
Homes 4-week running average: $455 ($454, $457, $464)
Condos 4-week running average: $207 ($209, $205, $207)

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

New Listings: 424 (328, 330, 371)
Sales: 302 (337, 304, 267)
Ratio: 71% (103%, 92%, 72%)
Price Changes: 185 (237, 210, 227)
Expired/Off-Market Listings: 349 (391, 195, 204)
Net loss/gain in listings this week: -227 (-400, -169, -100)
Active single-family home listings: 2317 (2321, 2466, 2554)
Active condo listings: 1357 (1324, 1453, 1468)
Homes 4-week running average: $454 ($457, $464, $460)
Condos 4-week running average: $209 ($205, $207, $206)

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The Edmonton real estate market in November was nothing short of extraordinary. Sales jumped by 31% compared to last year in November - 1,637 listings sold. Meanwhile, inventory took a bit of a dip, dropping 15% to 5,447 listings. New listings were up 6%, with a total of 2,126 new listings hitting the market in November. With a mere 3.33 months of supply, it's safe to say the ball is definitely in the sellers' court.

The benchmark price for townhouses shot up by an impressive 7.4% over last year. Apartment-style condos weren't far behind, with a 4.2% increase. And even single-family homes got in on the action, seeing a respectable 2.6% rise in benchmark prices. This suggests that there is more demand for more attainable types of housing, such as…

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