Weekly Market Update, Nov. 23/16
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: 355 (403, 404, 437)
# Sales: 179 (211, 175, 183)
Ratio: 50% (52%, 43%, 42%)
# Price Changes: 316 (292, 365, 424)
# Expired/Off Market Listings: 287 (307, 259, 668)
Net loss/gain in listings this week: -111 (-115, -30, -414)
Active single family home listings: 3940 (3976, 4008, 4007)
Active condo listings: 2218 (2220, 2271, 2285)
Homes 4-week running average: $429k ($438k, $438k, $432k)
Condos 4-week running average: $215k ($220k, $220k, $219k)
Have a great weekend!
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Reported residential real estate sales in Edmonton were well below average in October, and significantly down from last year. With decreased demand and significantly higher than normal inventory, there is only one direction for prices to go. 539 single-family homes were reported sold in October, down 25% from the same month last year:
247 condos were reported sold in Edmonton in October, down 7% from last year to the lowest total we've seen in at least 10 years.
The average sale price for single-family homes was $434,123, down 1.6% from last year and the median price was down 3% to $373,900. The average sale price for condos was $218,349, down 10% from last year and the median price was down 13% to $200,000.
The average price per square foot for…
In August the City of Edmonton updated their Secondary Suite zoning bylaws, making it easier for property owners to add a secondary suite to their property. The city expects to see 500 new legal suites in duplex homes, 600 in row-houses and about 550 in homes on small lots around the city, which has greatly increased interest for Secondary Suites in Edmonton’s Real Estate market.
Here are the top 3 reasons you should consider adding a secondary suite to your home
Income Properties
Adding a secondary suite to your property adds a new income stream, increasing your monthly income without requiring more of your time or effort. This money can easily go towards paying down your mortgage, building up your savings or even paying off debt. The decision to…
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 415 (447, 421, 524)
# Sales: 192 (195, 194, 224)
Ratio: 46% (44%, 46%, 43%)
# Price Changes: 436 (431, 375, 425)
# Expired/Off Market Listings: 262 (328, 280, 711)
Net loss/gain in listings this week: -39 (-76, -53, -411)
Active single family home listings: 4227 (4241, 4257, 4272)
Active condo listings: 2458 (2463, 2482, 2510)
Homes 4-week running average: $427 ($430k, $426k, $430k)
Condos 4-week running average: $223k ($230k, $235k, $237k)
An interesting report came out this week from CMHC, showing there is high evidence of overbuilding in Edmonton, with an elevated level of inventory of unsold, completed new detached…
There’s nothing quite like the incredible feeling of finding your dream home, but a dream house can quickly become a nightmare if you don’t know what’s going on behind the walls.
That’s why you need to get the electrical systems checked before buying it. A home inspector can inspect many aspects of a home you’re considering purchasing. Here are some things they should include in an electrical inspection:
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 421 (524, 427,523)
# Sales: 194 (224, 236, 260)
Ratio: 46% (43%, 55%, 50%)
# Price Changes: 375 (425, 452, 487)
# Expired/Off Market Listings: 280 (711, 259, 304)
Net loss/gain in listings this week: -53 (-411, -68, -41)
Active single family home listings: 4257 (4272, 4429, 4540)
Active condo listings: 2482 (2510, 2667, 2666)
Homes 4-week running average: $426k ($430k, $430k, $429k)
Condos 4-week running average: $235k ($237k, $242, $245k)
Have a great weekend!