Single Family Homes Reach Record Price in Edmonton in June - Updated
Posted by Liv Real Estate on
Updated - the REALTORS® Association of Edmonton has released their monthly stats on the Greater Edmonton Real Estate Market, and the average residential sale price has reached the highest level we've seen in at least 9 years. Meanwhile, demand is normal, and supply is exceptionally high. So here's the deal... inventory is a leading indicator of prices. Earlier this year we had slightly lower inventory and slightly higher demand; prices typically rise for the first part of the year and conditions early in the year seem to have brought higher average prices than I was expecting. The opposite is now occurring, so prices could start to drop on a year over year basis, except for one foreseeable outcome; mortgage rates. Word on the street is that the Bank of…
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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: 609 (666, 659, 644)
# Sales: 335 (323, 328, 315)
Ratio: 55% (48%, 50%, 49%)
# Price Changes: 443 (485, 489, 523)
# Expired/Off Market Listings: 186 (240, 229, 207)
Net loss/gain in listings this week: 88 (103, 102, 122)
Active single family home listings: 3,586 (3,532, 3,455, 3,393)
Active condo listings: 3,093 (3055, 3,017, 2,963)
Homes 4-week running average: $455k ($449k, $450k, $440k)
Condos 4-week running average: $257k ($245k, $253k, $252k)
Would you look at that! Average single family home price at $454,785 while inventory extremely high. Monthly stats tomorrow!
As requested, condo inventory:
Happy Canada Day!!!!
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 666 (659, 644, 639)
# Sales: 323 (328, 315, 309)
Ratio: 48% (50%, 49%, 48%)
# Price Changes: 485 (489, 523, 524)
# Expired/Off Market Listings: 240 (229, 207, 360)
Net loss/gain in listings this week: 103 (102, 122, -30)
Active single family home listings: 3,532 (3,455, 3,393, 3,318)
Active condo listings: 3055 (3,017, 2,963, 2,906)
Homes 4-week running average: $449k ($450k, $440k, $438k)
Condos 4-week running average: $245k ($253k, $252k, $253k)
So there have been some big changes around here in the past week - we launched a brand new livrealestate.ca web site that allows you to search homes for sale in Edmonton,…
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