Weekly Market Update, July 27/18
Posted by Liv Real Estate on
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 542 (607, 692, 594)
# Sales: 310 (311, 284, 270)
Ratio: 57% (51%, 41%, 45%)
# Price Changes: 582 (574, 566, 547)
# Expired/Off Market Listings: 248 (279, 519, 519)
Net loss/gain in listings this week: -16 (17, 322, -195)
Active single family home listings: 4709 (4718, 4700, 4628)
Active condo listings: 3080 (3070, 3049, 3029)
Homes 4-week running average: $434k ($442k, $449k, $439k)
Condos 4-week running average: $247k ($240k, $238k, $238)
Single-family inventory dropped, every so slightly this week, have we hit the peak for inventory for the year? We shall see. Meanwhile, condo inventory continued to climb.
I had a chat…
420 Views, 9 Comments
Everyone likes a trooper; especially when it comes to appliances. Sometimes the best ones are those we rarely have to think about: quietly standing by, doing their jobs; making us more comfortable.
Occasionally, they last well beyond their normal lifespan. For the most part, these are the major appliances we want.
But, this is Edmonton. We rely on our furnaces more than most.
Ageing furnaces are more likely to need repairs. They should be inspected for safety and cleaned regularly. When the signs of ageing appear, it might be time to start thinking about a replacement.
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 594 (631, 716, 738)
# Sales: 270 (314, 325, 328)
Ratio: 45% (50%, 45%, 44%)
# Price Changes: 547 (312, 632, 570)
# Expired/Off Market Listings: 519 (258, 299, 227)
Net loss/gain in listings this week: -195 (59, 92, 227)
Active single family home listings: 4628 (4696, 4640, 4568)
Active condo listings: 3029 (3142, 3148, 3135)
Homes 4-week running average: $439k ($442k, $440k, $443k)
Condos 4-week running average: $238 ($243k, $231k, $237k)
Not only do buyers have plenty to choose from in Edmonton right now, they have some of the lowest closing costs in the country.
Have a great weekend!
The REALTORS® Association of Edmonton released their monthly report on the Greater Edmonton Area real estate market this week saying:
"Average prices are remaining stable, however sales are slower than typical for this time of year,” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “With increasing inventory and days on market, couple with decreasing sales, sellers will need to be patient and consider their homes’ competitive advantages to stand out in the current buyers’ market."
While average prices have remained reasonably stable, through the past four years of rising inventory and declining sales, benchmark prices tell a different story. The Benchmark price for all types of residential properties reached a peak in early 2015, and have…