Weekly Market Update Jul.2/21
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: 627 (672, 771, 824)
# Sales: 376 (408, 492, 502)
Ratio: 60% (61%, 64%, 61%)
# Price Changes: 443 (445, 470, 457)
Expired/Off-Market Listings: 380 (211, 186, 198)
Net loss/gain in listings this week: -129 (53, 93, 124)
Active single-family home listings: 3265 (3250, 3179, 3080)
Active condo listings: 3010 (3108, 3121, 3091)
Homes 4-week running average: $473 ($469, $468, $467)
Condos 4-week running average: $239 ($242, $232, $231)
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The average price of single-family homes sold in Edmonton reached a new all-time high in June - $473,876, up 15% from last June! The median sale price also reached a record high - a 12% year-over-year increase at $418,000. Luxury sales were well above normal levels with a home selling for $5million, another for $3.15million and 27 houses in total selling for $1million or more. In comparison, 9 homes sold for over $1million last June and in June 2019.
Our market has gotten the attention of investors, according to Patrick Francey, CEOÂ of the Real Estate Investment Network:
"Investors can expect to generate a positive cash of about $300 to $700 a month after costs in monthly rent based on the average price of a home in the city. At the same, investors…
If you’ve recently looked at listing your home or spent any amount of time watching HGTV, you’ve likely heard of home staging, but is it necessary?
The short answer is yes.
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 672 (771, 824, 833)
# Sales: 408 (492, 502, 439)
Ratio: 61% (64%, 61%, 53%)
# Price Changes: 445 (470, 457, 493)
Expired/Off-Market Listings: 211 (186, 198, 376)
Net loss/gain in listings this week: 53 (93, 124, 18)
Active single-family home listings: 3250 (3179, 3080, 2982)
Active condo listings: 3108 (3121, 3091, 2985)
Homes 4-week running average: $469 ($468, $467, $462)
Condos 4-week running average: $242 ($232, $231, $227)
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 771 (824, 833, 698)
# Sales: 492 (502, 439, 459)
Ratio: 64% (61%, 53%, 66%)
# Price Changes: 470 (457, 493, 404)
Expired/Off-Market Listings: 186 (198, 376, 164)
Net loss/gain in listings this week: 93. (124, 18, 75)
Active single-family home listings: 3179 (3080, 2982, 2923)
Active condo listings: 3121 (3091, 2985, 3013)
Homes 4-week running average: $468 ($467, $462, $454)
Condos 4-week running average: $232 ($231, $227, $233)
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 824 (833, 698, 741)
# Sales: 502 (439, 459, 462)
Ratio: 61% (53%, 66%, 62%)
# Price Changes: 457 (493, 404, 458)
Expired/Off-Market Listings: 198 (376, 164, 179)
Net loss/gain in listings this week: 124 (18, 75, 100)
Active single-family home listings: 3080 (2982, 2923, 2897)
Active condo listings: 3091 (2985, 3013, 2942)
Homes 4-week running average: $467 ($462, $454, $457)
Condos 4-week running average: $231 ($227, $233, $232)
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 833 (698, 741, 773)
# Sales: 439 (459, 462, 478)
Ratio: 53% (66%, 62%, 62%)
# Price Changes: 493 (404, 458, 383)
Expired/Off-Market Listings: 376 (164, 179, 171)
Net loss/gain in listings this week: 18 (75, 100, 124)
Active single-family home listings: 2982 (2923, 2897, 2844)
Active condo listings: 2985 (3013, 2942, 2905)
Homes 4-week running average: $462 ($454, $457, $456)
Condos 4-week running average: $227 ($233, $232, $233)
Funny how I predicted just a few days ago that new listings would continue their downward trend for the remainder of the year. We normally see new listings jump in the first week of each month…
The average price for residential real estate hit a new high in the Greater Edmonton Area (GEA) in May - $401,390, up 23% over the last year and the median price was up 8% to $375,000. Admittedly, averages can be very misleading, which is why the benchmark price is a much better indicator of what's going on in the market. The benchmark price for single-family homes was up 9.3% over last year in May, and the composite benchmark price was up 8.4%.
As I already mentioned in our weekly stats, I believe the market peaked early this year in terms of listings and sales as many buyers moved their purchases up to take advantage of historically low-interest rates. While things are slowing down a bit, we are coming off of all-time highs, so there is still a ton of…
A friend of mine recently moved to a Vancouver suburb and I was shocked to hear how much it really costs to buy a home there. I think everyone has an idea how expensive homes are in and around Vancouver and Toronto right now, but many people aren't aware of the additional closing costs buyers face across the country. With so many people working remotely, we're starting to see people moving based on housing affordability, so I wanted to share what it actually costs to buy a typical single-family home in major Canadian cities, including the extra expenses buyers pay at closing that are not included in their mortgage.
Since averages and medians can be misleading, I'm going to base these calculations on the MLS® Home Price Index. The HPI basically…