The real estate market is looking more normal this fall, after a very busy summer. We're seeing more listings come on the market, and buyers now have the benefit of extremely low mortgage rates and more listings to choose from. New listings are well above normal levels for this time of year (13% up from last year), but so are sales (25% up from last year), so inventory has remained in check. Sales outside the city of Edmonton continue to pull the market up (single-family home sales in Edmonton were up 9.5% compared to 25% for the market overall). I don't expect sales to stay above normal levels for much longer, so if listings continue to come on the market at higher than normal levels, as I expect they will, we'll be back to higher than normal inventory…

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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: 447 (464, 428, 565) # Sales: 255 (300, 247, 279) Ratio: 57% (65%, 58%, 49%) # Price Changes: 367 (393, 314, 387) Expired/Off-Market Listings: 226 (218, 206, 244) Net loss/gain in listings this week: -34 (-54, -25, 42) Active single-family home listings: 3180 (3183, 3188, 3205) Active condo listings: 2343 (2340, 2328, 2311) Homes 4-week running average: $434k ($427k, $429k, $428k) Condos 4-week running average: $225k ($222k, $217k, $217k) Have a great weekend!

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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: 464 (428, 565, 459) # Sales: 300 (247, 279, 338) Ratio: 65% (58%, 49%, 74%) # Price Changes: 393 (314, 387, 400) Expired/Off-Market Listings: 218 (206, 244, 510) Net loss/gain in listings this week: -54 (-25, 42, -389) Active single-family home listings: 3183 (3188, 3205, 3171) Active condo listings: 2340 (2328, 2311, 2277) Homes 4-week running average: $427k ($429k, $428k, $428k) Condos 4-week running average: $222k ($217k, $217k, $225k) Have a great weekend!

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It’s fall, and that means it's time to test your home for radon gas. If you've never tested your home before, Health Canada recommends that we should all should test our homes for radon gas at least once during the winter heating months (October to April).

Why should I care about radon? 

Exposure to high levels of radon gas is the second leading cause of lung cancer after smoking. According to evictradon.ca, the Canadian prairies have some of the most radon-generating soils on earth. For example, a recent study - http://cmajopen.ca/content/5/1/E255.long - showed that 47% of homes in Southern Alberta had elevated radon levels of 100 Bq/m3 or higher, and 12% had levels of 200 Bq/m3 or higher (which must be remediated).

What is radon gas?

Radon is…

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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: 428 (565, 459, 515) # Sales: 247 (279, 338, 309) Ratio: 58% (49%, 74%, 60%) # Price Changes: 314 (387, 400, 409) Expired/Off-Market Listings: 206 (244, 510, 227) Net loss/gain in listings this week: -25 (42, -389, -21) Active single-family home listings: 3188 (3205, 3171, 3361) Active condo listings: 2328 (2311, 2277, 2417) Homes 4-week running average: $429k ($428k, $428k, $431k) Condos 4-week running average: $217k ($217k, $225k, $230k) Interesting information from CMHC this week - Edmonton had the highest percentage of mortgage deferrals for any major city in Canada (21%) and Alberta had the highest percentage of any…

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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: 565 (459, 515, 547) # Sales: 279 (338, 309, 317) Ratio: 49% (74%, 60%, 58%) # Price Changes: 387 (400, 409, 453) Expired/Off-Market Listings: 244 (510, 227, 232) Net loss/gain in listings this week: 42 (-389, -21, -2) Active single-family home listings: 3205 (3171, 3361, 3349) Active condo listings: 2311 (2277, 2417, 2408) Homes 4-week running average: $428k ($428k, $431k, $433k) Condos 4-week running average: $217k ($225k, $230k, $226k) Have a great weekend!

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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: 459 (515, 547, 511) # Sales: 338 (309, 317, 262) Ratio: 74% (60%, 58%, 51%) # Price Changes: 400 (409, 453, 339) Expired/Off-Market Listings: 510 (227, 232, 213) Net loss/gain in listings this week: -389 (-21, -2, 36) Active single-family home listings: 3171 (3361, 3349, 3335) Active condo listings: 2277 (2417, 2408, 2386) Homes 4-week running average: $428k ($431k, $433k, $433k) Condos 4-week running average: $225k ($230k, $226k, $238k) Have a great weekend!

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Single-family home sales were above normal levels in Edmonton in September, spurred on by historically low interest rates. Residential sales were up 35% in September compared to last year, in the greater Edmonton area. Benchmark prices for single-family homes and townhouses are up over 2% from pre-covid levels. I will update this post when the REALTORS® Association releases their monthly report on the real estate market.

Edmonton Stats

791 single-family homes were reported sold in Edmonton in September, up 29% from last September.      

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