Weekly Market Update, Oct. 5/18
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: 524 (427,523, 568)
# Sales: 224 (236, 260, 247)
Ratio: 43% (55%, 50%, 43%)
# Price Changes: 425 (452, 487, 523)
# Expired/Off Market Listings: 711 (259, 304, 325)
Net loss/gain in listings this week: -411 (-68, -41, -4)
Active single family home listings: 4272 (4429, 4540, 4534)
Active condo listings: 2510 (2667, 2666, 2696)
Homes 4-week running average: $430k ($430k, $429k, $434k)
Condos 4-week running average: $237k ($242, $245k, $240k)
Have a great weekend!
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Our preliminary look at the real estate market in September shows single-family home sales are up (ever so slightly) from last year - 668 homes were reported sold in September in Edmonton, up 2.5% from last year:
Condo sales, on the other hand, reached a new low - 250 condos were reported sold in September, down 11% from last September:
The average price of single-family homes was $430,881 - up 1% compared to last September - and the median price was $387,500 - up 0.6%. The average price of condos was $241,838 - down 4% from last September - and the median price was $219,000 - down 0.5%.
The average price per square foot for single-family homes was $276 and for condos was $237 - both were down $10 from last September.
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 427 (523, 568, 547)
# Sales: 236 (260, 247, 219)
Ratio: 55% (50%, 43%, 40%)
# Price Changes: 452 (487, 523, 491)
# Expired/Off Market Listings: 259 (304, 325, 726)
Net loss/gain in listings this week: -68 (-41, -4, -398)
Active single family home listings: 4429 (4540, 4534, 4519)
Active condo listings: 2667 (2666, 2696, 2705)
Homes 4-week running average: $430k ($429k, $434k, $430k)
Condos 4-week running average: $242 ($245k, $240k, $247k) Have a great weekend! :)
On Monday Edmonton city council unanimously voted to approve changes to zoning bylaws allowing suites in semi-detached, duplex and row housing. There is no longer a minimum lot size requirement for secondary suites, which opens up the opportunity to add suites on smaller lots. They also loosened restrictions on the size and location of secondary suites, relative to the primary dwelling.
All secondary suites must have one off-street parking space on the property unless the home is in an area with access to high-frequency transit, including 600m from LRT or transit centres, and 150m from transit avenues.
One of the benefits of these changes is that many suites that currently exist illegally in semi-detached homes around the city can be legalized. In…