Weekly Market Update, Feb. 23/18
Posted by Liv Real Estate on
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 457 (452, 511, 461)
# Sales: 189 (206, 189, 177)
Ratio: 41% (46%, 37%, 38%)
# Price Changes: 206 (250, 197, 215)
# Expired/Off Market Listings: 178 (145, 155, 393)
Net loss/gain in listings this week: 90 (101, 167, -109)
Active single family home listings: 2778 (2743, 2688, 2571)
Active condo listings: 2222 (2145, 2089, 2003)
Homes 4-week running average: $444k ($442k, $456k, $443k)
Condos 4-week running average: $235k ($234k, $225k, $222k)
Looks like sales will be lower than last February when the monthly totals are calculated next week, perhaps single-family home prices have already peaked for this year? That would be…
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Solar rebates have arrived! On June 21, 2017, the Government of Alberta officially opened the rebate program to homes and businesses in Alberta.
These charts really tell the story about what is happening with the Edmonton real estate market. Sales are up 14% over last year, while inventory is up 7% over last year to the highest level we've seen in January in 10 years. A lot of buyers seem to have moved their purchase forward due to rising mortgage rates.
The average price is up 0.64% over last year and the median price is down 2.9%:
Our preliminary stats on the Edmonton real estate market in January showed:
We missed the Edmonton forecast this year, so we came to Calgary to see what's expected to happen to the real estate market in Calgary at the #CREB2018 Economic and Housing Forecast. I'll be updating this post as information is shared.
The forecast was provided by CREB Economist: Ann-Marie Lurie, here is a summary of her remarks:
Calgary was on a path of recovery in 2017, which is expected to continue in 2018 (more of the same) with so new challenges. Alberta has the strongest growth in GDP in the country, but we're not back to where we once were. Energy prices are far better than what we've seen over the past couple of years, but challenges still exist. Modest gains are expected in the energy sector in Alberta.
"Housing market conditions are expected…
Your windows can be responsible for up to 30 to 40 per cent of energy lost in your home. When winter rolls around and you start to feel a cold draft coming from your windows, it could be a sign that it’s time for a replacement. If you have noticeably warped or damaged frames, original aluminum sliders or older wood-framed windows that feel soft and possibly rotten, a window replacement is in your future.
You might not notice the wear and tear on your home, but potential buyers will! Make a great first impression by taking care of a few fixes and simple upgrades. Not only will this boost your curb appeal and make your home more attractive on the market, it can also help you get more qualified offers and a quicker sale.
Photo Credit: Alair Homes
Here are the top 3 things to fix before you sell your home.