I've been wondering what this month's stats were going to look like, ever since we saw the absorption rate fall below the rates we've seen for the past three years last month, and Robert Hogue, senior economist with RBC Economics declared the housing correction of the last 18 months is over. ( I will update this post the REALTORS® Association of Edmonton releases their monthly report on the Greater Edmonton area ). Our market snapshot shows sales and new listings are basically unchanged from last August, while the benchmark price dropped 2.5%. Inventory dropped 8% from last year, keeping us in a balanced market for the 5th consecutive month.   The average price was up 0.7% from last August and the median price was up 1.5%:

City of Edmonton…

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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: 455 (618, 549, 497) # Sales: 239 (269, 276, 295) Ratio: 53% (44%, 50%, 88%) # Price Changes: 427 (459, 441, 383) Expired/Off-Market Listings: 230 (321, 282, 232) Net loss/gain in listings this week: -14 (28, -9, , -171, -279) Active single-family home listings: 4251 (4278, 4202, 4226) Active condo listings: 2415 (2411, 2425, 2413) Homes 4-week running average: $437k ($435k, $431k, $429k) Condos 4-week running average: $232k ($226k, $225k, $217k) Have a great weekend!

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It's astounding how many different business models exist in our highly regulated industry. As a real estate agent, how do you determine which is the best model and brokerage for you? There are two main business models for brokerages: desk fees and commission split. From there, you can find combination models, employee (salaried) models, multi-level models (where agents are rewarded for recruiting other agents) and more. In general, desk fee or "100%" brokerages charge a monthly fee, a deal fee, and additional fees for just about everything you can imagine from paper clips to training to answering calls. Meanwhile, commission split brokerages share in your success by taking a portion of your commissions (typically anywhere from 10-50%).…

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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: 618 (549, 497, 488) # Sales: 269 (276, 295, 302) Ratio: 44% (50%, 88%, 62%) # Price Changes: 459 (441, 383, 420) Expired/Off-Market Listings: 321 (282, 232, 465) Net loss/gain in listings this week: 28 (-9, , -171, -279, 22) Active single-family home listings: 4278 (4202, 4226, 4179) Active condo listings: 2411 (2425, 2413, 2399) Homes 4-week running average: $435k ($431k, $429k, $426k) Condos 4-week running average: $226k ($225k, $217k, $215k) Have a great weekend!

130 Views, 6 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: 549 (497, 488, 495) # Sales: 276 (295, 302, 283) Ratio: 50% (88%, 62%, 57%) # Price Changes: 441 (383, 420, 471) Expired/Off-Market Listings: 282 (232, 465, 190) Net loss/gain in listings this week: -9 (-171, -279, 22, -8) Active single-family home listings: 4202 (4226, 4179, 4325) Active condo listings: 2425 (2413, 2399, 2509) Homes 4-week running average: $431k ($429k, $426k, $420k) Condos 4-week running average: $ 225k ($217k, $215k, $213k) So, last week there was an error in the numbers, I'm sorry to report the sales were not "off the chart" last week. Very sorry if I got anyone's hopes up. We have noticed a change…

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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: 497 (488, 495, 530) # Sales: 436 (302, 283, 319) Ratio: 88% (62%, 57%, 60%) # Price Changes: 383 (420, 471, 500) Expired/Off Market Listings: 232 (465, 190, 219) Net loss/gain in listings this week: -171 (-279, 22, -8, 18) Active single family home listings: 4226 (4179, 4325, 4310) Active condo listings: 2413 (2399, 2509, 2496) Homes 4-week running average: $429k ($426k, $420k, $417k) Condos 4-week running average: $217k ($215k, $213k, $225k) Have a great weekend!

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The real estate market was busier than I expected in July in Edmonton. Nearly every one of our agents reported being in multiple offer situations on more than one occasion in the month of July. There are a number of stats that suggest the bottom of the current market cycle was a couple of months ago... Sales are up 20% over last July while inventory is down 10%. The absorption rate is at 4.73 months - the lowest it's been in two years. While prices are still down on a year over year basis, the benchmark price is down 3% compared to last year, while the past few months it was down 4-4.5%. Here is our monthly infographic on the greater Edmonton real estate market: Looking at benchmark prices, you can get an apartment-style condo for 13% less and a…

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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: 488 (495, 530, 586) # Sales: 302 (283, 319, 329) Ratio: 62% (57%, 60%, 56%) # Price Changes: 420 (471, 500, 497) Expired/Off Market Listings: 465 (190, 219, 239) Net loss/gain in listings this week: -279 (22, -8, 18, -192) Active single family home listings: 4179 (4325, 4310, 4298) Active condo listings: 2399 (2509, 2496, 2510) Homes 4-week running average: $426k ($420k, $417k, $421k) Condos 4-week running average: $215k ($213k, $225k, $227k) Have a great weekend!

167 Views, 7 Comments