Edmonton Real Estate Market Update, Dec. 25/20

Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 178 (220, 301, 322) # Sales: 204 (186, 188, 252) Ratio: 115% (85%, 62%, 78%) # Price Changes: 84 (135, 185, 223) Expired/Off-Market Listings: 189 (208, 193, 482) Net loss/gain in listings this week: -215 (-174, -80, -412) Active single-family home listings: 2371 (2476, 2569, 2625) Active condo listings: 1950 (2007, 2052, 2055) Homes 4-week running average: $415k ($421k, $431k, $436k) Condos 4-week running average: $222k ($223k, $224k, $223k) Today is usually the slowest day of the year for us, in terms of traffic on our websites and inquiries; this is the first time I've been busy handling inquiries and requests to see listings on Christmas. I'm reasonably certain we're busy because viewing homes is one of the few things people are actually allowed to do in the Edmonton area right now. We're not just getting requests though, we've had more offers and closings in the week before Christmas than ever before. Mortgage Professionals Canada released a report recently that showed before the pandemic only 7% of non-homeowners in Canada were considering buying a home in the coming year, and that number steadily increased all year and now sits at 23%. Interesting times for sure.

Wish you a very happy holiday season! Posted by Liv Real Estate on December 24th, 2020

I have never seen a Sales/New Listings ratio of 115%.
What is bringing down the average price for a SFH to 415K?
What does this mean.

Posted by DOK on Friday, December 25th, 2020 at 3:06am

Tony,
I wish the Chinese would start buying in Edmonton and price us all out of the housing market here too.

Posted by GM on Friday, December 25th, 2020 at 7:51pm

23 percent dreamers as the Chinese have priced out virtually everyone out of the housing market in Canada a long time ago.

Posted by Tony on Saturday, December 26th, 2020 at 6:26am

The Chinese only buy highest and only buy when something starts to skyrocket in price whether it be real estate or anything else.

Posted by Tony on Monday, December 28th, 2020 at 4:55am

GM: Why on earth would you ever want that? That would be awful for young people. They would all move away.

Posted by Tom on Wednesday, December 30th, 2020 at 1:53am

Tony,

You sound pretty angry. Are you one of those people who paid too much a few years ago and are now taking a bath?

Posted by GM on Thursday, December 31st, 2020 at 9:17pm

Found someone who bought at the bottom and sold at the top. The last buyer is going to take a bath and has had the place for more than the last 13 years.

https://www.honestdoor.com/property/1496-lakewood-road-west-nw-edmonton-ab

https://upsiderealty.ca/town.html/listing.e4223153-1496-lakewood-road-w-edmonton-t6k-3m2.93479453

Posted by Tony on Friday, January 1st, 2021 at 2:40am

Found someone who bought at the bottom and sold at the top

1496 Lakewood Road West NW

Information
Edit
Year Built 1978
Zoning Low Rise Apartment Zone (RA7)
Taxes
Edit
Date Value
2020 $1,199
2019 $1,190
Transactions
Edit
Date Value
Apr 17, 2007 $189,900
May 14, 1997 $35,340

Today its presently listed for $99,900

Posted by Tony on Friday, January 1st, 2021 at 2:49am

Someone that paid way too much three years ago.
274 3307 116a Avenue NW

Sep 14, 2017 $223,000
May 16, 2007 $209,000
Oct 04, 2003 $89,400

Presently listed with Liv Real Estate at $124,900 barely 3 years later.

Posted by Tony on Friday, January 1st, 2021 at 3:47am

Tony,
I'm not sure where you're getting your stats from, but they are incorrect.

Posted by Sara MacLennan on Friday, January 1st, 2021 at 4:44am

Edmonton Real Estate Market Update, Dec. 25/20

Leave A Comment