Weekly Market Update, Jan. 1/21
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 101 (178, 220, 301)
# Sales: 102 (204, 186, 188)
Ratio: 101% (115%, 85%, 62%)
# Price Changes: 95 (84, 135, 185)
Expired/Off-Market Listings: 511 (189, 208, 193)
Net loss/gain in listings this week: -512 (-225, -174, -80)
Active single-family home listings: 2087 (2371, 2476, 2569)
Active condo listings: 1730 (1950, 2007, 2052)
Homes 4-week running average: $404k ($415k, $421k, $431k)
Condos 4-week running average: $219k ($222k, $223k, $224k)
Happy New Year!!! I have tacked this week’s numbers onto the end of last year’s line and will move them to a new line next week. Will have the monthly stats up shortly!
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 9
Still Employed in AB
Tony, Check out 101 10549 87 Avenue NW
Sold in 2016 for 370k, 2007 for 310K, 2002 for 179K, & 95K in ‘89.
It’s presently off the market but I think it was last listed at 307K
tom
And down goes the prices…. I’m 35, and I personally know a few dozen millenials who have recently packed up and left Edmonton to move back to their home province. I think the lack of entertainment/distractions and inability to visit family in other provinces during Covid has made people realize how unhappy they are here, and how their higher paying employment that they moved here for years ago isn’t worth it. This, combined with a very socially conservative premier, is leading so many young people to flee back out east.
GM
Justin Trudeau has completely destroyed the Alberta economy.
And at the same time things are booming in Quebec. House prices are rising quickly.
But I’m sure Alberta will continue to send $13 billion to Quebec every year.
Tom
GM: Agreed. In 10 years, Edmonton and Calgary will likely have similar salaries and house prices to Regina and Saskatoon, respectively.
Jason (Toronto)
The problem with Alberta economy is it’s always based on oil and gas. They know they have to diversified, but with $100 a barrel, everyone was busy back in 2016 (mind you, Alberta has multiple opportunities long before that) . As we all know, world is moving to renewable energy and target at 2030 for EV. I brought Tesla 3 in 2018 when Ontario provided $14000 rebate, and I never look back at ICE.
House Price was at its highest in 2016 when I sold and left Alberta. Now with COVID and another recession on horizon, IMHO, government should spend more money in infrastructures since labor and material costs less now and interest rate is at its lowest. That’s the only way to bring Alberta back to its glory.
Karlhungus
Are you confusing 2016 with 2014? 2014 was the last time oil was $100/barrel
Still employed in AB
Karlhungus I think you are talking about the last peak in oil and Jason is talking about the last peak in Edmonton real estate which managed to keep going up for a couple years after Oil and GDP peaked in 2014.
A commong guy
If you keep blaming Feds/others (like our premier keeps doing) it means you are unable to see where the real problem is. The real problem is the shortsightedness of Alberta’s governments for decades and all of Albertan who elected them; they put all our eggs into Oil/gas basket and wasted the fortune in the forms of $400 checks (and they remember it as good old Klein days!). They didn’t see the world is moving (and moving fast) to other resources/technologies. Our dumb-ass premier still doesn’t see the demand for oil/gas is dropping like a rock. Oil companies are smarter and are already re-tooling their businesses for a new world. As long as we have this regressive governments and mentality of looking backwards (instead of forwards) we are not going to get out of this.
GM
Common guy,
Oil demand is higher than ever worldwide, and will continue to increase for at least another 20 years.