February Market Report
Posted by Liv Real Estate on
A recent report shows there are a record number of unsold, completed new homes in the Edmonton area (7.5% above the previous record). This is due to a tough labour market, stagnant wages, higher mortgage rates and tougher federal mortgage rules, and all those factors are impacting the resale market as well.
My initial looks at the Edmonton real estate market in February shows single-family homes sales were down 1.4% from last February, and below average for this time of year - 499 homes were reported sold in February:
Condo sales were down 7% from last February and the lowest level we've seen in at least 10 years - 214 condos were reported sold in February:
The average price of single-family homes was down 3.6% to $419,174 and the median price was…
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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: 495 (437, 422, 528)
# Sales: 206 (186, 175, 179)
Ratio: 42% (43%, 41%, 36%)
# Price Changes: 256 (211, 212, 221)
# Expired/Off Market Listings: 345 (216, 127, 428)
Net loss/gain in listings this week: -56 (35, 120, -79)
Active single family home listings: 3290 (3327, 3281, 3194)
Active condo listings: 1936 (1966, 1965, 1910)
Homes 4-week running average: $419k ($406k, $402k, $397k)
Condos 4-week running average: $219k ($214k, $215k, $206k)
Have a great weekend!
If your family has outgrown your current house, you might be considering a big change. Or, maybe you want that luxurious master suite, a third bathroom or an additional family room. If you need more living space, you have two options: add on to the house you already have and renovate it to make it work OR move into a bigger house.
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 528 (403, 450, 476)
# Sales: 179 (144, 138, 143)
Ratio: 36% (31%, 30%, 27%)
# Price Changes: 221 (233, 208, 286)
# Expired/Off Market Listings: 428 (370, 174, 241)
Net loss/gain in listings this week: -79 (-111, 138, 92)
Active single family home listings: 3194 (3141, 3198, 3073)
Active condo listings: 1910 (1850, 1892, 1858)
Homes 4-week running average: $397k ($392k ($401k, $403k)
Condos 4-week running average: $206k ($213k, $215k, $213k)
Have a great weekend!