Weekly Market Update, July 19/19
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 530 (586, 523, 548)
# Sales: 319 (329, 265, 323)
Ratio: 60%v (56%, 51%, 59%)
# Price Changes: 500 (497, 438, 532)
Expired/Off Market Listings: 219 (239, 450, 227)
Net loss/gain in listings this week: -8 (18, -192, -2, 28)
Active single family home listings: 4310 (4298, 326, 4423)
Active condo listings: 2496 (2510, 2460, 2544)
Homes 4-week running average: $417k ($421k, $418k, $419k)
Condos 4-week running average: $225k ($227k, $236k, $236k)
Have a great weekend!
About Sara MacLennan
Sara MacLennan is the Director of Marketing at Liv Real Estate and a licensed Real Estate Associate. The bulk of Sara’s experience and wealth of expertise lies in on-line technology and marketing both for agents and consumers. Sara is the former National Director for Interactive Marketing for Coldwell Banker Canada where she was responsible for an extensive training program traveling to offices across the country training agents and brokers on marketing and technology. Find Sara on Twitter @edmontonblogger.
Comments 4
Tom
With interest rates decreasing, I’d expect we’ll see a sizeable bounce in the next six months. Things are looking up! Plus with the economy expected to recover with the UCP, I’m very optimistic about Edmonton’s real estate market. We’re outperforming many ‘hot’ markets, most notably Vancouver where prices are declining.
What does worry me is that we’re long overdue for a recession, which I think that will be coming soon. Go with a variable mortgage, certainly. If the next recession hits soon (and it looks to be the case based on the US beginning to cut rates soon), I could see a variable rate mortgage hit the 1.XX percent rate.
Tony
The falling U.S. dollar will also spike all commodities. I’m looking for a 20 percent fall in the U.S. dollar by the end of 2021. The smart money is moving into hard assets as we speak. The stupid money is still in the stock market and they’ll lose everything in 2021 when the U.S. stock market ponzi implodes. Retirees will move to Alberta as the cost of living is as close to free as you can get while still living in Canada.
Tony
The U.S FED says no recession until 2028. As we know all the data out of Washington is 100 percent lies and in 2020 growth will hit 4+ percent… more total lies. There won’t be a recession until the Fed and central bankers orchestrate one.
Tony
I’m betting the 5 year closed mortgage rates in Canada will fall below the one percent mark at the end of 2021 as interest rates turn negative in America. As rates fall in America the economy will end up worse and worse the same as Japan and Europe so rates will fall into the negative category until the U.S. dollar bottoms out. The chase for yield will spike hard assets as the U.S. stock market implodes.