Weekly Market Update, Nov. 30/18
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: 318 (355, 403, 404)
# Sales: 195 (179, 211, 175)
Ratio: 61% (50%, 52%, 43%)
# Price Changes: 294 (316, 292, 365)
# Expired/Off Market Listings: 241 (287, 307, 259)
Net loss/gain in listings this week: -118 (-111, -115, -30)
Active single family home listings: 3886 (3940, 3976, 4008)
Active condo listings: 2177 (2218, 2220, 2271)
Homes 4-week running average: $427k ($429k, $438k, $438k)
Condos 4-week running average: $212k ($215k, $220k, $220k)
Monthly stats come out tomorrow so I'll save the commentary for then :)
Have a great weekend!
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Reported residential real estate sales in Edmonton were well below average in October, and significantly down from last year. With decreased demand and significantly higher than normal inventory, there is only one direction for prices to go. 539 single-family homes were reported sold in October, down 25% from the same month last year:
247 condos were reported sold in Edmonton in October, down 7% from last year to the lowest total we've seen in at least 10 years.
The average sale price for single-family homes was $434,123, down 1.6% from last year and the median price was down 3% to $373,900. The average sale price for condos was $218,349, down 10% from last year and the median price was down 13% to $200,000.
The average price per square foot for…