Edmonton Real Estate Market Update, Dec. 25/20
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 178 (220, 301, 322)
# Sales: 204 (186, 188, 252)
Ratio: 115% (85%, 62%, 78%)
# Price Changes: 84 (135, 185, 223)
Expired/Off-Market Listings: 189 (208, 193, 482)
Net loss/gain in listings this week: -215 (-174, -80, -412)
Active single-family home listings: 2371 (2476, 2569, 2625)
Active condo listings: 1950 (2007, 2052, 2055)
Homes 4-week running average: $415k ($421k, $431k, $436k)
Condos 4-week running average: $222k ($223k, $224k, $223k)
Today is usually the slowest day of the year for us, in terms of traffic on our websites and inquiries; this is the first time I’ve been busy handling inquiries and requests to see listings on Christmas. I’m reasonably certain we’re busy because viewing homes is one of the few things people are actually allowed to do in the Edmonton area right now. We’re not just getting requests though, we’ve had more offers and closings in the week before Christmas than ever before. Mortgage Professionals Canada released a report recently that showed before the pandemic only 7% of non-homeowners in Canada were considering buying a home in the coming year, and that number steadily increased all year and now sits at 23%. Interesting times for sure.
Wish you a very happy holiday season!
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 10
DOK
I have never seen a Sales/New Listings ratio of 115%.
What is bringing down the average price for a SFH to 415K?
What does this mean.
Tony
23 percent dreamers as the Chinese have priced out virtually everyone out of the housing market in Canada a long time ago.
GM
Tony,
I wish the Chinese would start buying in Edmonton and price us all out of the housing market here too.
Tony
The Chinese only buy highest and only buy when something starts to skyrocket in price whether it be real estate or anything else.
Tom
GM: Why on earth would you ever want that? That would be awful for young people. They would all move away.
Tony
Found someone who bought at the bottom and sold at the top. The last buyer is going to take a bath and has had the place for more than the last 13 years.
https://www.honestdoor.com/property/1496-lakewood-road-west-nw-edmonton-ab
https://upsiderealty.ca/town.html/listing.e4223153-1496-lakewood-road-w-edmonton-t6k-3m2.93479453
Tony
Found someone who bought at the bottom and sold at the top
1496 Lakewood Road West NW
Information
Edit
Year Built 1978
Zoning Low Rise Apartment Zone (RA7)
Taxes
Edit
Date Value
2020 $1,199
2019 $1,190
Transactions
Edit
Date Value
Apr 17, 2007 $189,900
May 14, 1997 $35,340
Today its presently listed for $99,900
Tony
Someone that paid way too much three years ago.
274 3307 116a Avenue NW
Sep 14, 2017 $223,000
May 16, 2007 $209,000
Oct 04, 2003 $89,400
Presently listed with Liv Real Estate at $124,900 barely 3 years later.
Sara MacLennan
Tony,
I’m not sure where you’re getting your stats from, but they are incorrect.
GM
Tony,
You sound pretty angry. Are you one of those people who paid too much a few years ago and are now taking a bath?