Sales in the Greater Edmonton area are once again well below the levels seen during the pandemic but well ahead of pre-pandemic levels. If you don't include 2021 and 2022, there were more sales in April 2023 than there were in at least 15 years. The demand is a bit surprising when you consider interest rates are higher than we've seen in years. Lucky for us, we have plenty of new listings coming on the market, while in Calgary, inventory is extremely low, and prices have hit an all-time high. Our inventory is still below normal for this time of year, and for the second month in a row, we find ourselves in a seller's market with a 3.4-month supply of listings.


City of Edmonton Stats

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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: 580 (696, 590, 605)
Sales: 396 (427, 317, 346)
Ratio: (61%, 54%, 57%)
Price Changes: 345 (319, 297, 346)
Expired/Off-Market Listings: 155 (181, 190, 276)
Net loss/gain in listings this week: 29 (88, 83, -17)
Active single-family home listings: 2859 (2820, 2736, 2695)
Active condo listings: 1744 (1721, 1666, 1618)
Homes 4-week running average: $477 ($474, $471, $465)
Condos 4-week running average: $212 ($208, $203, $205)

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The spring market is gaining momentum, but it's not the same flood of buyers we saw last spring.  Nathan Mol with Liv Real Estate® spoke to Joel Schlesinger about the new type of buyers we are seeing in a recent Edmonton Journal article. 

"Local realtor Nathan Mol with Liv real estate agrees, noting that condominium sales “have been quite active lately.” In the past 30 days, the city saw 448 apartment transactions, up 40 per cent over 2019.

Still, single-family homes in the mid-range prices are the first-choice option for many. “ The sweet spot for many buyers this spring so far is for (detached) homes in the $400,000 to $600,00 price bracket,” says Mol.""

Here is our update on the Edmonton real estate market. (Previous week’s numbers are in…

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Buying a home is an exciting time and a significant milestone for many people, but it can also be an intimidating and costly process, particularly for first-time homebuyers. Fortunately, the Canadian government has introduced a new savings account to help prospective homebuyers save for their downpayment. Below, we will share what you need to know about the new First Home Savings Account and other downpayment options for first-time buyers.

What is the First Home Savings Account?

The First Home Savings Account is designed specifically for prospective first-time homebuyers. It's a savings account that offers tax incentives to help prospective home buyers save up for a down payment.

Eligibility Requirements

You need to be a Canadian resident, at…

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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: 590 (605, 455, 521)
Sales: 317 (346, 323, 334)
Ratio: 54% (57%, 71%, 64%)
Price Changes: 297 (346, 313, 295)
Expired/Off-Market Listings: 190 (276, 161, 159)
Net loss/gain in listings this week: 83 (-17, -29, 28)
Active single-family home listings: 2736 (2695, 2684, 2683)
Active condo listings: 1666 (1618, 1591, 1611)
Homes 4-week running average: $471 ($465, $461, $451)
Condos 4-week running average: $203 ($205, $209, $209)

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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: 605 (455, 521, 589)
Sales: 346 (323, 334, 306)
Ratio: 57% (71%, 64%, 52%)
Price Changes: 346 (313, 295, 250)
Expired/Off-Market Listings: 276 (161, 159, 171)
Net loss/gain in listings this week: -17 (-29, 28, 112)
Active single-family home listings: 2695 (2684, 2683, 2644)
Active condo listings: 1618 (1591, 1611, 1590)
Homes 4-week running average: $465 ($461, $451, $445)
Condos 4-week running average: $205 ($209, $209, $212)

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When you compare the current real estate market in the Greater Edmonton Area to 2022, or 2021, things look pretty bleak - sales are down 44% from last March, prices are down 8%, and inventory is up 20% - but when you take a look at the bigger picture, 2023 is looking like one of the best years in at least a decade. Have a look at the charts below, and you'll see what I mean. 

Meanwhile, in Calgary, inventory is at its lowest level for March since 2006!

According to CREB® Chief Economist Ann-Marie Lurie, “The challenge has been centred around supply. As a result, existing homeowners may be reluctant to list as they struggle to find an acceptable housing alternative in this market. At the same time, higher lending rates can also reduce the incentives…

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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 (521, 589, 526)
Sales: 323 (334, 306, 292)
Ratio: 71% (64%, 52%, 56%)
Price Changes: 313 (295, 250, 241)
Expired/Off-Market Listings: 161 (159, 171, 138)
Net loss/gain in listings this week: -29 (28, 112, 96)
Active single-family home listings: 2684 (2683, 2644, 2544)
Active condo listings: 1591 (1611, 1590, 1528)
Homes 4-week running average: $461 ($451, $445, $442)
Condos 4-week running average: $209 ($209, $212, $212)

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We recently held our first (of hopefully many) Liv Better Days and celebrated our annual awards in person for the first time since Covid locked us down.

Our amazing culture here at Liv Real Estate® is not something we take for granted. The bonds and camaraderie among our people and the support and encouragement they provide to one another daily is so special and unique. It is something that has been built one good deed at a time, and all their efforts have contributed to our culture of collaboration, inclusivity, diversity and success. It reinforces what we have believed: YOU win by helping others. The work we do every day makes a difference in the lives of so many people. Our agents bring joy and happiness to families and help make their dreams a…

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The 5-year Canada bond yield hit a 12-month low last week, causing fixed mortgage rates to drop.  This unexpected turn of events may be jump starting the spring market as potential buyers can now secure attractive rates. We saw many homebuyers putting their plans on hold due to high interest rates last year, but we're now seeing many of those buyers back are ready to jump into the market.

Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:

New Listings: 521 (589, 526, 524)
Sales: 334 (306, 292, 279)
Ratio: 64% (52%, 56%, 53%)
Price Changes: 295 (250, 241, 250)
Expired/Off-Market Listings: 159 (171, 138, 266)
Net loss/gain in listings this week: 28 (112, 96, -21)
Active single-family home…

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