Weekly Market Update, February 14/20
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: 464 (513, 403, 355)
# Sales: 190 (150, 155, 153)
Ratio: 41% (29%, 38%, 43%)
# Price Changes: 230 (217, 225, 200)
Expired/Off-Market Listings: 135 (350, 208, 159)
Net loss/gain in listings this week: 139 (13, 40, 43)
Active single-family home listings: 3019 (2954, 2916, 2891)
Active condo listings: 1837 (1754, 1723, 1690)
Homes 4-week running average: $415k ($410k, $415k, $414k)
Condos 4-week running average: $201k ($199k, $201k, $206k)
Have a great weekend!
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Awards season is not just for celebrities, real estate agents receive awards at this time of year as well. In the industry, agents are typically given awards for selling a lot of real estate, which in our minds, does not necessarily equate to being a great real estate agent. We know that our clients want to be well represented and that they want to have a positive experience buying or selling real estate, and the only way to know if we've done a good job is to ask our clients.
Our brokerage uses an online service called RealSatisfied that allows customers to rate their agent on three key performance indicators: customer satisfaction, agent performance and recommendation. Customer ratings and testimonials are available on each agent’s bio page on our…
Supply is down, demand is up compared to last year - will this trend continue? If it does, we should start to see prices moving upward. A few interesting reports came out this month, first, the federal first time home buyers incentive has been declared a "flop" by Sherry Cooper, chief economist at Dominion Lending Centres. With that said, Edmonton has had the second-most applications in the country, so perhaps it's helping first time buyers overcome the stress test in our market a bit. I would think hard about sharing a chunk of my equity with feds before I applied for that program. The other interesting news is that the vacancy rate has dropped, even with tons of new rental units being built in the city; 40% of condos in Edmonton are designated as…
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 355 (353, 433, 182)
# Sales: 153 (124, 109, 110)
Ratio: 43% (35%, 25%, 60%)
# Price Changes: 200 (177, 211, 152)
Expired/Off-Market Listings: 159 (206, 180, 660)
Net loss/gain in listings this week: 43 (23, 144, -588)
Active single-family home listings: 2891 (2856, 2849, 2770)
Active condo listings: 1690 (1664, 1643, 1581)
Homes 4-week running average: $414k ($413k, $399k, $402k)
Condos 4-week running average: $206k ($213k, $227k, $222k)
Have a great weekend!
Here's our initial look at the real estate market in Edmonton in December - I will update this post after the REALTORS® Association of Edmonton releases their monthly report on the market. Single-family home sales ended out the year like they normally do in December - 402 homes were reported sold in December, up 7% from last year.
Condo sales were slower than normal, but similar to what we saw last year - 146 condo were reported sold in December (compared to 142 last year).
The average price of single-family homes was $401,816, down 7% from last year and the median price was down 6% to $353,450. The average price of condos was $222,554, down 9% from last year and the median price was down 2% to $198,000.
The average price for single-family homes…