Weekly Market Update Feb. 5/21
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: 529 (450, 433, 437)
# Sales: 288 (249, 188, 213)
Ratio: 54% (55%, 43%, 49%)
# Price Changes: 205 (175, 190, 170)
Expired/Off-Market Listings: 297 (145, 176, 143)
Net loss/gain in listings this week: -56 (56, 69, 81)
Active single-family home listings: 2120 (2148, 2125, 2135)
Active condo listings: 1928 (1940, 1887, 1838, 1784)
Homes 4-week running average: $430 ($422, $432, $430k)
Condos 4-week running average: $215 ($210, $195, $209)
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Whether you are considering a career in Real Estate or considering a change in your career, you might be wondering what a team is or if you should join one.
Sheldon Johnston and Sara MacLennan were live across our social channels yesterday discussing the pros and cons of joining a team, what you can expect from a team, important considerations when choosing a team or brokerage to work with as well as our approach here at Liv Real Estate®.
We break it all down for you in this blog post, and the video is linked at the end for those interested in catching the replay.
Sales in the Greater Edmonton area were up 46% over last January! We don't expect the pace of sales to stay ahead of previous years for much longer, we're still dealing with pent-up demand due to extremely low-interest rates and people wanting more space for working and learning from home. The Bank of Canada has committed to keeping rates low for 2021, but the Alberta economy is not expected to get back to pre-pandemic levels for a couple of years, and a weak labour market is expected until the end of next year. Some fundamental shifts are needed (employment, migration) before improvements in the market will be sustainable.
I'll update this post with the Greater Edmonton Area stats after the REALTORS® Association of Edmonton releases their report later…
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 450 (433, 437, 360)
# Sales: 249 (188, 213, 161)
Ratio: 55% (43%, 49%, 45%)
# Price Changes: 175 (190, 170, 54)
Expired/Off-Market Listings: 145 (176, 143, 530)
Net loss/gain in listings this week: 56 (69, 81,-331)
Active single-family home listings: 2148 (2125, 2135, 2095)
Active condo listings: 1940 (1887, 1838, 1784)
Homes 4-week running average: $422 ($432, $430k, $412k)
Condos 4-week running average: $210 ($195, $209, $212k)
This week, a new survey revealed what I think all of us already know: Albertans are less confident in the housing market and the economy than the rest of Canada.
When it came to real estate, 45…
Buyers almost always include a home inspection condition when they make an offer on a house. The purpose of a home inspection is for the buyer to have a clear picture of what they're buying, so they are aware of the home's condition and get a good idea of what expenses they will face for maintenance and repairs. Buyers shouldn't expect any property to be perfect, and they shouldn't look at the home inspection as a re-negotiation tool. Still, in some cases, they will ask for concessions from the seller based on the inspection report. According to this American study, 29% of sellers either make minor repairs or reduce the sale price to close the deal.
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 437 (360, 101, 178)
# Sales: 213 (161, 102, 204)
Ratio: 49% (45%, 101%, 115%)
# Price Changes: 170 (154, 95, 84)
Expired/Off-Market Listings: 143 (530, 511, 189)
Net loss/gain in listings this week: 81 (-331, -512, -225)
Active single-family home listings: 2135 (2095, 2087, 2371)
Active condo listings: 1838 (1784, 1730, 1950)
Homes 4-week running average: $430k ($412k, $404k, $415k)
Condos 4-week running average: $209 ($212k, $219k, $222k)
In the past, I've mentioned that Alberta's net migration was negative in Q2 2020 for the first time since the 80's, and it looks like Q3 was still negative but started heading in the…
Good morning! The REALTORS® Forecast is back and I'm liveblogging the event. Things moved really quickly so I've edited the disaster I created during the event. The forecast takes place every year and features guest speakers who give forecasts on the local, national and global economy. There always seems to be a blizzard during the forecast, so luckily this year I got to attend from the comfort of home. I am thoroughly enjoying the snowstorm now taking place outside my windows.