New Mortgage Rules Boost Real Estate Sales in Edmonton in December - UPDATED
Posted by Liv Real Estate on
The REALTORS® Association of Edmonton released their monthly report on the Greater Edmonton real estate market today:
“2017 was a steady year for real estate in Edmonton and many of the surrounding municipalities, where sales and prices were quite stable for the majority of the year,” said Darcy Torhjelm, REALTORS® Association of Edmonton Chair. “For most of the year we continued to see home buyers take advantage of low mortgage rates and a slightly increased inventory, while sellers enjoyed solid prices for their properties.”
“Now that the holiday season is over and a new year is here, we expect listings and sales to begin to ramp up again,” said Torhjelm. “We encourage both potential buyers and sellers to talk to their local REALTOR® about their…
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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: 89 (233, 292, 345)
# Sales: 108 (206, 194, 212)
Ratio: 121% (88%, 66%, 61%)
# Price Changes: 77 (123, 173, 278)
# Expired/Off Market Listings: 146 (275, 186, 491)
Net loss/gain in listings this week: -165 (-248, -88, -358)
Active single family home listings: 2682 (2773, 2928, 2964)
Active condo listings: 2120 (2166, 2222, 2249)
Homes 4-week running average: $419k ($429k, $433k, $436k)
Condos 4-week running average: $239k ($239k, $238k, $235k)
Very best wishes to everyone for the upcoming New Year! :)
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 233 (292, 345, 300)
# Sales: 206 (194, 212, 233)
Ratio: 88% (66%, 61%, 78%)
# Price Changes: 123 (173, 278, 269)
# Expired/Off Market Listings: 275 (186, 491, 463)
Net loss/gain in listings this week: -248 (-88, -358, -396)
Active single family home listings: 2773 (2928, 2964, 3010)
Active condo listings: 2166 (2222, 2249, 2271)
Homes 4-week running average: $429k ($433k, $436k, $445k)
Condos 4-week running average: $239k ($238k, $235k, $234k)
It's been a very busy December for real estate agents in Edmonton....we're used to taking it pretty easy this time of year but not this year! Clearly, many people are moving their…
The REALTORS® Association of Edmonton has released their monthly report on the Greater Edmonton real estate market for November, so I've updated our monthly report (original Edmonton stats are at the end of this post). Residential sales were up 12.42% over last November, which the Association attributes to the upcoming mortgage rule changes. While I agree the rule changes are likely part of the equation, I think rising interest rates (and expiring rate holds) are also a factor, as is the growing population, and the improving economy.
Here's our snapshot of the Greater Edmonton Real Estate market, followed by our monthly charts: