Edmonton Real Estate Market Weekly Update, June 16/17

That first chart, SFH inventory over the years, is fascinating.

And yet the average single family is now $450k? Seems interesting.

It's starting to heat up, as I predicted. I'm hoping we set an all-time record for pricing next week.

Price reduced is more than listed.

Price changed is more than sold

Absolutely. And as soon as they start to raise the interest rate next month it'll start to heat up even more and more

Tom/Wally- how so? Sales are slow fellas....not dead, but slow...price is range bound as it has been for most of the last decade, up a bit down a bit week to week and year to year but no sustainable increase. Sales to listings indicate a buyers market...inventory high....sales low by historical standards....don't see it guys.

Prices spiking higher!
Here we go folks! All the Chinese have been chased away from Vancouver and now from Toronto. Only place left for them to park their money is Calgary and Edmonton.
Hold on. This is gonna be a wild ride!

Interest rates will not be going up next month.

Trev, I was just kidding to make Tom happy. When the interest rate starts to rise soon there will be a downward pressure on prices.
Regarding the stagnation for the last decade it has been due to the out of control bubble that happened between 2001 and 2007 in Alberta. So what happened in Vancouver and Toronto in the last few years had already happened here in Alberta before 2008.

Tom , why you didn't predict it last week ? Lol.

Better lever up!

Head to the bank, Tom! There's so much money to be made if you borrow as much money as they'll let you!

Tom and GM should go splitsies on it. Think of the money they'll make over the next few years!

Totally Hilarious... lol

Well the listing across the street expired, still has a for sale on the lawn.

https://www.edmontonrealestate.pro/listing/Edmonton/Twin-Brooks/e4060006-541-twin-brooks-bay-edmonton-ab-t6j-6×3/

Interest rate is probably a key. Speculators probably can't move the market if other people cannot afford to buy from them.
The problem is still everyone can borrow more and more money.

Prices should slowly increase - time to buy.
Alberta migration flow for Q1 2017
International immigration + 7085
Ab BC -2430
Sk Ab +508
Mb ab +288
Ab ON -698
Ab Qc -118
Atlantic ab +50

right.... :)

https://www.theglobeandmail.com/real-estate/foreign-investors-ignoring-calgary-montreal-real-estate-markets/article35355328/

That is not a problem Tony.. the issue is when the new government in 2019 will start to cut jobs and services to reduce the debt.... you can't operate a province with 40% deficit forever....

Detached homes in Edmonton have finally succumbed to the falling prices in condos and townhouses. Detached homes in Edmonton are taking the second leg downward and should fall another ten percent over the next year.

Logical government would introduce a sales tax to tackle the, which was recommend by the S&P when it down graded AB credit rating. Ndp Ab government budget for 55us barrel oil. That has left another massive whole in the budget - projected 2billion gap with these current oil prices.

Sharon, it's been like that almost all year.

Hey Everyone,

As I'm sure you've noticed, we've gotten a bit of an overhaul. The Edmonton Real Estate Blog has been moved to our new livrealestate.ca website, not without a lot of technical difficulties. So sorry for any inconvenience and thank you for your patience. Any bookmarks or links you have to the old site should automatically redirect you to the corresponding page on the new site. If you see any issues I'd very much appreciate it if you let me know. We'll be broadening our scope to include real estate related topics across all of Alberta over time.

Thanks for reading, and commenting!
Sara.