Monthly Market Update – October, 2019 – UPDATED

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 […]

September Real Estate Market Report – UPDATED

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 […]

Average Edmonton Home Price Rises – First Time Since Stress Test Introduced (UPDATED)

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 […]

Real Estate Market Picks Up in Edmonton in July – UPDATED

The real estate market was busier than I expected in July in Edmonton. Nearly every one of our agents reported being in multiple offer situations on more than one occasion in the month of July. There are a number of stats that suggest the bottom of the current market cycle was a couple of months […]

Edmonton Monthly Real Estate Report – June

Our preliminary look at the real estate market in Edmonton shows single-family home sales were up slightly over last year for the third month in a row. 859 single family homes were reported sold in June, up 2% from last year. Condo sales were down 2.4% from last June – 328 condos were reported sold. […]

May Market Report – Updated

Prices are still falling in Edmonton, but there are some positive signs in the real estate market. Inventory has dropped, listing activity has dropped and sales activity has increased. Here’s our infographic for the Greater Edmonton Real Estate market in May: If you’ve followed this blog for a while, you may recognize the chart below, […]

April Real Estate Market Report – Updated

After six months of below average sales, and year over year declines, Edmonton single-family home sales improved to near normal levels in April. 769 single-family homes were reported sold in April in Edmonton, up 3% from last year. The market feels different from any market we’ve experienced in Edmonton – I’m working on a separate […]

March Market Report

The trend of high supply and low demand continued in the Edmonton area in March and brought lower prices for all types of real estate. The benchmark price for single-family homes was down 4.25% from last year, and 2.83% from five years ago, while apartment style condos were down 5.86% and 11.07% and townhouses were […]

February Market Report

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 […]

January Market Report

Our preliminary look at the real estate market in Edmonton in January shows sales and prices down, after an extended period of higher than normal inventory and lower than normal demand. 369 single family homes were reported sold in Edmonton in January, down 15% from last January. Last January sales were slightly higher than normal, […]

Slower Market in Edmonton in December

As expected, the real estate market was slower than normal in December. 376 single-family homes were reported sold in December – down 19% from last December. 142 condos were reported sold in December – down 32% from last year. The average price of single-family homes was down 4% from last December to $430,287 and the […]

November Real Estate Market Report – Updated

Another month with lower sales and higher inventory than in recent years lead to lower prices in the Greater Edmonton area in November. Here’s our snapshot of the market in November: Benchmark prices are also down year-over-year across all categories:     Edmonton Stats: Single-family home sales were down 15% from last November in Edmonton […]

Decreased Demand for Real Estate in Edmonton in October – UPDATED

Reported residential real estate sales in Edmonton were well below average in October, and significantly down from last year. With decreased demand and significantly higher than normal inventory, there is only one direction for prices to go. 539 single-family homes were reported sold in October, down 25% from the same month last year: 247 condos […]

Real Estate Market Report – September

Our preliminary look at the real estate market in September shows single-family home sales are up (ever so slightly) from last year – 668 homes were reported sold in September in Edmonton, up 2.5% from last year: Condo sales, on the other hand, reached a new low – 250 condos were reported sold in September, […]

Edmonton’s Real Estate Market in August – UPDATED

I normally update this post much more quickly, but I believe I found an error in the reported inventory and am waiting to hear back from our association about it. I’ve included what I can now and will update this again when I get an answer about the inventory. Sales were up 1.8% from last […]

Buyer’s Market Continues in Edmonton in July – UPDATED

CBC Edmonton published an interesting article yesterday talking about condos and apartments in Edmonton. The gist of the article is that ten or so years ago, many young people in the Edmonton area chose to purchase condos because there really weren’t many great rental options in the city.  Condos have been oversupplied in Edmonton for […]

Real Estate Market Cools Off in Edmonton in June – UPDATED

The REALTORS® Association of Edmonton released their monthly report on the Greater Edmonton Area real estate market this week saying: “Average prices are remaining stable, however sales are slower than typical for this time of year,” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “With increasing inventory and days on market, couple with decreasing sales, sellers […]

Home Sales Pick Up in Edmonton in May – UPDATED

The REALTORS® Association of Edmonton released their monthly report on the Greater Edmonton real estate market showing a slight decline in both prices and sales, and big increases in new listings and inventory. Here’s our snapshot of the market in May:   Edmonton Stats Our preliminary look at the Edmonton real estate market in May shows […]

Home Buyers Spent Less in Edmonton in April – UPDATED

Most of the big banks in Canada raised mortgage rates over the past few days, delivering another hit to our slow real estate market. While the increase might cause a small short-term surge in activity, as buyers look to take advantage of any rate holds they may have, the overall effect will likely decrease demand even further […]

Slow Spring Market in Edmonton – UPDATED

The REALTORS® Association of Edmonton released their report on the Greater Edmonton Area real estate market for March this week saying: “We generally see housing market activity increase at this time of year,” says Darcy Torhjelm, REALTORS® Association of Edmonton Chair. “Despite the year over year decreases, the market is still growing relative to February 2018 […]