Weekly Real Estate Market Update, Nov. 8/19
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: 406 (367, 402, 337)
# Sales: 197 (209, 222, 192)
Ratio: 49% (57%, 55%, 57%)
# Price Changes:Â 365 (385, 399, 322)
Expired/Off-Market Listings: 481 (544, 210, 243)
Net loss/gain in listings this week: -272 (-386, -30, -98)
Active single-family home listings: 3751 (3769, 3992, 4028)
Active condo listings: 2033 (2015, 2149, 2137)
Homes 4-week running average: $415k ($414k, $413k, $416k)
Condos 4-week running average: $216k ($226k, $224k, $217k)
Have a great weekend!
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Demand for real estate was up 16% from last October in the Greater Edmonton area last month - 1334 residential listings were reported sold in October - while supply dropped by 5%. If demand continues to increase, and supply continues to decrease on a year over year basis, we should see prices start to rise in the future - how long that is going to take is anyone's guess. The benchmark price decreased by 2.4% to $320,300 and the benchmark price for single-family homes was down 1.9% while apartment sytle condos saw the biggest drop at 5.3%.
The absorption rate slipped back into a balanced market in October, but it usually creeps up in November and December.
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 367 (402, 337, 487)
# Sales: 209 (222, 192, 234)
Ratio: 57% (55%, 57%, 48%)
# Price Changes: 385 (399, 322, 390)
Expired/Off-Market Listings: 544 (210, 243, 257)
Net loss/gain in listings this week: -386 (-30, -98, -4)
Active single-family home listings: 3769 (3992, 4028, 4078)
Active condo listings: 2015 (2149, 2137, 2168)
Homes 4-week running average: $414k ($413k, $416k, $418k)
Condos 4-week running average: $226k ($224k, $217k, $212k)
Have a great weekend!
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 402 (337, 487, 473)
# Sales: 222 (192, 234, 226)
Ratio: 55% (57%, 48%, 48%)
# Price Changes: 399 (322, 390, 427)
Expired/Off-Market Listings: 210 (243, 257, 624)
Net loss/gain in listings this week: -30 (-98, -4, -377)
Active single-family home listings: 3992 (4028, 4078, 4045)
Active condo listings: 2149 (2137, 2168, 2179)
Homes 4-week running average: $413k ($416k, $418k, $417k)
Condos 4-week running average: $224k ($217k, $212k, $215k)
Have a great weekend!
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 487 (473, 471, 478)
# Sales: 234 (226, 235, 256)
Ratio: 48% (48%, 50%, 54%)
# Price Changes: 390 (427, 452, 437)
Expired/Off-Market Listings: 257 (624, 222, 227)
Net loss/gain in listings this week: -4 (-377, 14, -5)
Active single-family home listings: 4078 (4045, 4277, 3776)
Active condo listings: 2168 (2179, 2323, 2063)
Homes 4-week running average: $418k ($417k, $420k, $428k)
Condos 4-week running average: $212k ($215k, $217k, $220k)
Have a great weeekend!
Demand for residential real estate was up 13% on a year over year basis in September in the greater Edmonton area, but the number of new listings also increased and just barely pushed us back into a buyer's market with 6.14 months of supply, after spending the past 5 months in a balanced market. Here's our snapshot of the Great Edmonton Area real estate market in September:
I've added a few new charts to our monthly report including this supply and demand comparison, followed by a look at the absorption rate in two ways. As you can see, the story for the past few years has been one excess supply, with demand trending slightly downwards:
The absorption rate is still lower than the past two years and is following the normal upward…