Weekly update May 14/21
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: 773 (828, 785, 750)
# Sales: 478 (439, 484, 476)
Ratio: 62% (53%, 62%, 63%)
# Price Changes: 383 (416, 415, 368)
Expired/Off-Market Listings: 171 (288, 162, 167)
Net loss/gain in listings this week: 124 (101, 139, 107)
Active single-family home listings: 2844 (2758, 2706, 2608)
Active condo listings: 2905 (2834, 2791, 2731)
Homes 4-week running average: $456 ($459, $454, $458k)
Condos 4-week running average: $233 ($233, $225, $222k)
"Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma – which is living with the results of other people's thinking." -Steve Jobs
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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: 828 (785, 750, 751)
# Sales: 439 (484, 476, 468, 383)
Ratio: 53% (62%, 63%, 62%)
# Price Changes: 416 (415, 368, 341)
Expired/Off-Market Listings: 288 (162, 167, 161)
Net loss/gain in listings this week: 101 (139, 107, 122)
Active single-family home listings: 2758 (2706, 2608, 2517)
Active condo listings: 2834 (2791, 2731, 2660)
Homes 4-week running average: $459 ($454, $458k, $463k)
Condos 4-week running average: $233 ($225, $222k, $231k)
It's likely we've seen sales peak for this year, but I could be wrong. The number of people searching online for real estate related terms plateaued in late March and started to decline…
April saw the most sales in any month since at least 2008 (that's as far back as my spreadsheet goes). There were 2,868 residential sales in the Greater Edmonton Area in April, up 104% over the 5-year average (last April was an anomaly due to COVID so it's more reasonable to compare to the 5-year average). To put things in perspective, in June 2007 when the market was as hot as we'd ever seen, there were 2203 sales. Most affordable listings are pending within a day or two of hitting the market, often with a backup offer in place. The good news for buyers is that most are still able to get offers accepted with conditions whereas most homes sold without conditions back in '07.
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 785 (750, 751, 689)
# Sales: 484 (476, 468, 383, 450)
Ratio: 62% (63%, 62%, 56%)
# Price Changes: 415 (368, 341, 300)
Expired/Off-Market Listings: 162 (167, 161, 136)
Net loss/gain in listings this week: 139 (107, 122, 170)
Active single-family home listings: 2706 (2608, 2517, 2485)
Active condo listings: 2791 (2731, 2660, 2555)
Homes 4-week running average: $454 ($458k, $463k, $454k)
Condos 4-week running average: $225 ($222k, $231k, $232k)
“It always seems impossible until it is done.” - Nelson Mandela
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 750 (751, 689, 739)
# Sales: 476 (468, 383, 450, 397)
Ratio: 63% (62%, 56%, 61%)
# Price Changes: 368 (341, 300, 287)
Expired/Off-Market Listings: 167 (161, 136, 276)
Net loss/gain in listings this week: 107 (122, 170, 13)
Active single-family home listings: 2608 (2517, 2485, 2442)
Active condo listings: 2731 (2660, 2555, 2478)
Homes 4-week running average: $458 ($463k, $454k, $451k)
Condos 4-week running average: $222 ($231k, $232k, $223k)
“Success is not final; failure is not fatal: it is the courage to continue that counts.” – Winston Churchill
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 739 (687, 679, 649)
# Sales: 450 (397, 387, 341, 262)
Ratio: 61% (58%, 57%, 53%)
# Price Changes: 287 (304, 265, 260)
Expired/Off-Market Listings: 276 (139, 123, 144)
Net loss/gain in listings this week: 13 (151, 169, 164)
Active single-family home listings: 2442 (2390, 2317, 2253)
Active condo listings: 2478 (2466, 2395, 2285)
Homes 4-week running average: $451K ($445k, $441k, $440k)
Condos 4-week running average: $223k ($223k, $218k, $206k)
Ok, the market has officially gone into over-drive. We rarely see more than 400 sales in a week, and when we do it's normally June. The last time there were more than 400 sales was…
Well, I knew the market was hot, but I didn't think we'd see sales more than double what they were last year at this time - residential sales in the Greater Edmonton area were up 109% in March. The benchmark price for single-family homes is up 5.6% year over year and 1.7% over last month. It's a solid seller's market with less than three months of supply, even with new listings up 51% over last year. Compared to other places in North America where inventory is incredibly tight, the good news is that we actually have new inventory coming on the market.
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 679 (649, 621, 481)
# Sales: 387 (341, 262, 309, 280)
Ratio: 57% (53%, 42%, 64%)
# Price Changes: 265 (260, 241, 261)
Expired/Off-Market Listings: 123 (144, 290, 107)
Net loss/gain in listings this week: 169 (164, 69, 65)
Active single-family home listings: 2317 (2253, 2187, 2142)
Active condo listings: 2395 (2285, 2184, 2117)
Homes 4-week running average: $441 ($440, $429, $425)
Condos 4-week running average: $218 ($206, $ 203, $214)
387 sales last week, we typically see numbers like that in a very good May or June week. We haven't had that many sales in a March week for as long as I've been tracking weekly stats…