Home Sales Pick Up in Edmonton in May - UPDATED
Posted by Liv Real Estate on
The REALTORS® Association of Edmonton released their monthly report on the Greater Edmonton real estate market showing a slight decline in both prices and sales, and big increases in new listings and inventory. Here's our snapshot of the market in May:
Edmonton Stats
Our preliminary look at the Edmonton real estate market in May shows homes sales were up, ever so slightly, over last May. 879 single family homes were reported sold in May, up 0.9% from last May. While the increase in sales over last year is slight, at best, we have moved from sales being well below average for the past few months, to roughly average for this time of year. 368 condos were reported sold in May, up by 2 (o.5%) from last May: The benchmark price for…576 Views, 4 Comments
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 (765, 832, 781)
# Sales: 271 (346, 275, 296)
Ratio: 45% (45%, 33%, 38%)
# Price Changes: 507 (569, 536, 399)
# Expired/Off Market Listings: 195 (237, 194, 399)
Net loss/gain in listings this week: 133 (182, 363, 86)
Active single family home listings: 4342 (4256, 4109, 3898)
Active condo listings: 2990 (2932, 2888, 2754)
Homes 4-week running average: $449k ($436k, $425k, $417k)
Condos 4-week running average: $253k ($247k, $243K, $228k)
I thought this article was a good read this week, about the pricing trends in Edmonton. The benchmark price for single family homes in Edmonton is up 4.2% over 5 years, compared to…
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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: 781 (644, 627, 672)
# Sales: 296 (278, 294, 248)
Ratio: 38% (43%, 47%, 37%)
# Price Changes: 399 (455, 349, 386)
# Expired/Off Market Listings: 399 (159, 195, 198)
Net loss/gain in listings this week: 86 (207, 138, 226)
Active single family home listings: 3898 (3815, 3702, 3578)
Active condo listings: 2754 (2761, 2682, 2638)
Homes 4-week running average: $417k ($426k, $440k, $445k)
Condos 4-week running average: $228k ($242k, $231k, $235k)
The force is not strong in the Edmonton real estate market, unless you count the force of government regulations and mortgage rates. Sorry... Star Wars day was one of my dad's favourite…
You may have seen reports in the past referencing the MLS® Home Price Index (HPI) in other parts of Canada and noticed Edmonton was not included, well, the tool is now available in Edmonton! This means will be able to include "benchmark" prices and trends with our monthly stats, giving greater insight into what is happening in the Edmonton real estate market. We can also more accurately compare our market, with other markets across the country.
What exactly is the HPI?
It's a way of following pricing trends that is more accurate than using averages and medians which can swing dramatically when the volume of high-end or low-end sales change over time. A "benchmark home" is set for each area (based on the most common attributes of homes traded in that…