Weekly Market Update, September 13/19
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: 562 (567, 455, 618)
# Sales: 237 (212, 239, 269)
Ratio: 42% (37%, 53%, 44%)
# Price Changes: 442 (403, 427, 459)
Expired/Off-Market Listings: 263 (547, 230, 321)
Net loss/gain in listings this week: 62 (-192, -14, 28, -9)
Active single-family home listings: 4222 (4164, 4251, 4278)
Active condo listings: 2341 (2322, 2415, 2411)
Homes 4-week running average: $430k ($433k, $437k, $435k)
Condos 4-week running average: $228k ($231k, $232k, $226k)
Have a great weekend!
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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: 567 (455, 618, 549)
# Sales: 212 (239, 269, 276)
Ratio: 37% (53%, 44%, 50%)
# Price Changes: 403 (427, 459, 441)
Expired/Off-Market Listings: 547 (230, 321, 282)
Net loss/gain in listings this week: -192 (-14, 28, -9, , -171)
Active single-family home listings: 4164 (4251, 4278, 4202)
Active condo listings: 2322 (2415, 2411, 2425)
Homes 4-week running average: $433k ($437k, $435k, $431k)
Condos 4-week running average: $231k ($232k, $226k, $225k)
Have a great weekend!
I've been wondering what this month's stats were going to look like, ever since we saw the absorption rate fall below the rates we've seen for the past three years last month, and Robert Hogue, senior economist with RBC Economics declared the housing correction of the last 18 months is over. (
I will update this post the REALTORS® Association of Edmonton releases their monthly report on the Greater Edmonton area
).
Our market snapshot shows sales and new listings are basically unchanged from last August, while the benchmark price dropped 2.5%. Inventory dropped 8% from last year, keeping us in a balanced market for the 5th consecutive month.
The average price was up 0.7% from last August and the median price was up 1.5%:
It's astounding how many different business models exist in our highly regulated industry. As a real estate agent, how do you determine which is the best model and brokerage for you?
There are two main business models for brokerages: desk fees and commission split. From there, you can find combination models, employee (salaried) models, multi-level models (where agents are rewarded for recruiting other agents) and more. In general, desk fee or "100%" brokerages charge a monthly fee, a deal fee, and additional fees for just about everything you can imagine from paper clips to training to answering calls. Meanwhile, commission split brokerages share in your success by taking a portion of your commissions (typically anywhere from 10-50%).…