Greater Edmonton Area Sales Jump 30% in November - Updated
Posted by Liv Real Estate on
Warnings of impending interest rate hikes have motivated home shoppers across Canada to move ahead with purchases during what is typically the slowest time of the year for real estate sales. Although new listings were up 15% from last year, they did not keep up with demand creating an unexpectedly hot market in Edmonton in November. The absorption rate has fallen to 3.18 months of supply. At this time of year, we would often tell clients to hold off listing their property until the new year, because demand is typically quite low going into the holiday season. It will be interesting to see if more holiday shoppers put "new home" on their lists this year, or if this surge in demand will cool off until the New Year.
Here is our monthly update on the…
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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: 332 (399, 469, 464)
# Sales: 318 (325, 304, 298)
Ratio: 96% (81%, 65%, 64%)
# Price Changes: 225 (275, 357, 363)
Expired/Off-Market Listings: 195 (240, 263, 528)
Net loss/gain in listings this week: -181 (-166, -98, -362)
Active single-family home listings: 2626 (2745, 2814, 2861)
Active condo listings: 2355 (2385, 2427, 2463)
Homes 4-week running average: $447 ($450, $447, $439)
Condos 4-week running average: $215 ($217, $220, $223)
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 399 (469, 464, 429)
# Sales: 325 (304, 298, 327)
Ratio: 81% (65%, 64%, 76%)
# Price Changes: 275 (357, 363, 399)
Expired/Off-Market Listings: 240 (263, 528, 216)
Net loss/gain in listings this week: -166 (-98, -362, -114)
Active single-family home listings: 2745 (2814, 2861, 3043)
Active condo listings: 2385 (2427, 2463, 2607)
Homes 4-week running average: $450 ($447, $439, $449)
Condos 4-week running average: $217 ($220, $223, $220)
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To adequately prepare yourself for the project that lies ahead, consider the following common renovation problems and the best solutions to fix them.
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 469 (464, 429, 447)
# Sales: 304 (298, 327, 345)
Ratio: 65% (64%, 76%, 77%)
# Price Changes: 357 (363, 399, 427)
Expired/Off-Market Listings: 263 (528, 216, 237)
Net loss/gain in listings this week: -98 (-362, -114, -135)
Active single-family home listings: 2814 (2861, 3043, 3089)
Active condo listings: 2427 (2463, 2607, 2625)
Homes 4-week running average: $447 ($439, $449, $452)
Condos 4-week running average: $220 ($223, $220, $225)
You know, some things just seem so simple… Take the following question, for example; Does GST apply to the sale of your home?
You’d assume the answer would be a simple and straightforward “No, there’s no GST on a resale home.”
LOL…Assumptions are dangerous. (I’m sure I’ve said this before.)
The actual answer is a much more complex “Maybe. Actually, generally no, but possibly.”
You must be thinking, “wait, what?”
The fact of the matter is the only one who can answer this is you or your accountant. It’s all based on how you’ve filed your taxes, so every case is different.
For example, if you own an acreage and run a business on it or lease a portion of to, let’s say, a cell tower or an oil well, you may have obligations to pay GST on the sale of your…
Interesting times in the Edmonton real estate market for sure... sales of all property types were well ahead of the past few years, and while single-family prices were up, condo prices are still lagging due to higher than normal supply. The biggest real estate related news this month comes from the Bank of Canada, which gave a surprise warning last week that rates are going to rise significantly next year. We often see an increase in demand before rate hikes, followed, of course, by lower demand. This could move the spring market earlier next year since the hikes will begin in April.
I will update this post when the REALTORS® Association of Edmonton releases their monthly report on the market later this week.
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 429 (447, 491, 574)
# Sales: 327 (345, 291, 373)
Ratio: 76% (77%, 59%, 65%)
# Price Changes: 399 (427, 341, 447)
Expired/Off-Market Listings: 216 (237, 197, 584)
Net loss/gain in listings this week: -114 (-135, 3, -383)
Active single-family home listings: 3043 (3089, 3139, 3122)
Active condo listings: 2607 (2625, 2672, 2658)
Homes 4-week running average: $449 ($452, $457, $458)
Condos 4-week running average: $220 ($225, $221, $221)
Halloween Weekend is upon us, so we thought we would round up the top Halloween Events in and around Edmonton.