Weekly Market Update, August 17/18
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: 566 (581, 648, 542)
# Sales: 264 (247, 266, 310)
Ratio: 47% (43%, 41%, 57%)
# Price Changes: 553 (485, 567, 582)
# Expired/Off Market Listings: 302 (307, 565, 248)
Net loss/gain in listings this week: 0 (27, -183, -16)
Active single family home listings: 4741 (4729, 4672, 4709)
Active condo listings: 2930 (2934, 2958, 3080)
Homes 4-week running average: $429k ($422k, $436k, $434k)
Condos 4-week running average: $250k ($230k, $244k, $247k)
Have a great weekend!
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On Monday, August 20, City Council will be voting on whether to approve changes to the Zoning Bylaw to make building secondary suites (basement suites) easier in Edmonton.
The proposed changes are extensive and would allow secondary suites to built:
CBC Edmonton published an interesting article yesterday talking about condos and apartments in Edmonton. The gist of the article is that ten or so years ago, many young people in the Edmonton area chose to purchase condos because there really weren't many great rental options in the city. Condos have been oversupplied in Edmonton for some time now, and many projects are turning into rental apartments instead of condos, which is leading to more choice and better options for renters, and further weakening demand for condos. Interesting.
The REALTORS® Association of Edmonton released their monthly report on the Greater Edmonton area real estate market today saying:
“The overall real estate market is softening as the summer selling season begins to slow,”…
Everyone likes a trooper; especially when it comes to appliances. Sometimes the best ones are those we rarely have to think about: quietly standing by, doing their jobs; making us more comfortable.
Occasionally, they last well beyond their normal lifespan. For the most part, these are the major appliances we want.
But, this is Edmonton. We rely on our furnaces more than most.
Ageing furnaces are more likely to need repairs. They should be inspected for safety and cleaned regularly. When the signs of ageing appear, it might be time to start thinking about a replacement.
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 594 (631, 716, 738)
# Sales: 270 (314, 325, 328)
Ratio: 45% (50%, 45%, 44%)
# Price Changes: 547 (312, 632, 570)
# Expired/Off Market Listings: 519 (258, 299, 227)
Net loss/gain in listings this week: -195 (59, 92, 227)
Active single family home listings: 4628 (4696, 4640, 4568)
Active condo listings: 3029 (3142, 3148, 3135)
Homes 4-week running average: $439k ($442k, $440k, $443k)
Condos 4-week running average: $238 ($243k, $231k, $237k)
Not only do buyers have plenty to choose from in Edmonton right now, they have some of the lowest closing costs in the country.
Have a great weekend!