Weekly Update, June 19/20
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: 634 (664, 688, 588)
# Sales: 333 (299, 243, 228)
Ratio: 53% (45%, 35%, 39%)
# Price Changes: 345 (349, 326, 308)
Expired/Off-Market Listings: 208 (211, 403, 221)
Net loss/gain in listings this week: 93 (154, 42, 139)
Active single-family home listings: 3703 (3630, 3549, 3516)
Active condo listings: 2288 (2263, 2204, 2200)
Homes 4-week running average: $417k ($406k, $411k, $414k)
Condos 4-week running average: $205k ($203k, $195k, $203k)
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: 664 (688, 588, 434)
# Sales: 299 (243, 228, 201)
Ratio: 45% (35%, 39%, 46%)
# Price Changes: 349 (326, 308, 227)
Expired/Off-Market Listings: 211 (403, 221, 189)
Net loss/gain in listings this week: 154 (42, 139, 44)
Active single-family home listings: 3630 (3549, 3516, 3436)
Active condo listings: 2263 (2204, 2200, 2127)
Homes 4-week running average: $406k ($411k, $414k, $415k)
Condos 4-week running average: $203k ($195k, $203k, $205k)
Have a great weekend!
To succeed in real estate for the coming months and years, you will need to step up your mindset and find another gear. Right now that means extra forms, extra effort to set up showings, extra precautions when meeting with clients. You will have to sharpen your skills, take a hard look at your business plan, and your expenses. You're going to need to try new things such as video calls and Zoom meetings with clients, virtual open houses, and video walkthroughs. It doesn't need to happen overnight, but you need to adapt.
We've already been in a down market for years, and there are going to be even fewer sales for the foreseeable future; so if you're not willing to accept a lower income, you're going to have to find ways to increase your market share.
Our…
The Edmonton real estate market rebounded in May after COVID-19 took a serious bite out of the April market, but it's still considerably slower than we normally see at this time of year. There are plenty of buyers out looking (our website traffic is up over 40% from last May, with over 4.6million pageviews), but there were slim pickings at the beginning of May when most of the homes on the market were stale listings that had not adjusted to the new market reality; new listings started coming on the market in the last two weeks for the month, giving buyers more to choose from.
Sales are down, significantly, but the inventory is also down which has moved us from a sever buyer's market last month, to a mild buyer's market in May.
Different segments of the…
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 497 (536, 378, 304)
# Sales: 174 (141, 157, 107)
Ratio: 35% (26%, 42%, 35%)
# Price Changes:Â 249 (242, 230, 190)
Expired/Off-Market Listings: 216 (419, 386, 146)
Net loss/gain in listings this week: 107 (-24, -165, 51)
Active single-family home listings: 3432 (3363 ,3249, 3327)
Active condo listings: 2075 (2032, 1975, 2047)
Homes 4-week running average: $407k ($407k, $407k, $404k)
Condos 4-week running average: $202k ($220k, $216k, $223k)
It's nice to see sales picking up, although they are still well below normal. There are a lot of people looking right now - traffic to our website is hitting all-time highs, and our…
This Monday - May 18 - we're holding our first-ever virtual open house "Livathon!" Starting at 11am, we'll broadcast 13 consecutive virtual open houses via Facebook Live. Our agents will be on location, filming as they walk through the listings and answering your questions while they're at it! You can watch on our Facebook Page or watch the recording later - we'll answer your questions in the comments either way. You'll be the first to see our McKernan listing, that isn't on the market yet, tour multiple million-dollar homes and watch a live price reduction. Stay home, stay safe, check out the following homes online:
A lot of people are interested in how real estate is being conducted with COVID-19 restrictions in place. While the market has slowed down, there are still a lot of people buying and selling, albeit with some extra precautions in place. If you’re thinking of buying or selling real estate this spring you can also check out our “what to expect” and “COVID FAQs for real estate” blog posts or watch our Facebook Live Video to learn more. Here are our Top 5 Tips for selling your home during COVID-19:
1. Get a Virtual Evaluation
Sitting around the kitchen table to discuss pricing, marketing, the market, and everything you need to know about selling your home is not ideal at the moment. So, many agents are taking that portion of the evaluation online. Agents…