Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 628 (503, 565, 535) # Sales: 243 (231, 276, 264) Ratio: 39% (46%, 49%, 49%) # Price Changes: 361 (329, 326, 262) # Expired/Off Market Listings: 297 (132, 126, 142) Net loss/gain in listings this week: 88 (140, 163, 129) Active single family home listings: 2,848 (2,781, 2,736, 2,670) Active condo listings: 2,411 (2,369, 2,305, 2,217) Homes 4-week running average: $430k ($440k, $438k, $437k) Condos 4-week running average: $246k ($239k, $235k, $234k) With the market conditions better than last year (even if it's just slightly better) I'm surprised we're still seeing more price reductions than sales. However, when you have a closer look at inventory, even though it's down from last year, it's still well above average and higher than the previous 8 years. Have a great weekend! Posted by Liv Real Estate on
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Cmon, Trev. When have you ever thought it was not a great time to buy? The sky certainly isn't falling, but it also isn't always a goddamn "great time to buy".

Posted by Anonymous on Thursday, April 6th, 2017 at 8:33pm

The numbers in Calgary look better

Posted by Wally on Thursday, April 6th, 2017 at 11:54pm

I expected a stronger start to be honest. But, looks like it's still a great time to buy; firmly in a buyers market at those inventory and sales:listing numbers. I still maintain the real economy has turned the corner and the market will start to balance later this year.

Posted by Trev on Friday, April 7th, 2017 at 7:46am

The prices of the mature neighbourhoods like Westmount, Inglewood, Prince Charles have gone up like crazy in the last couple of years. The percentage of increases is like 15 percent+ especially with the lot splitting. What I'm seeing is a $250,000 a couple of years ago, now getting split into 2 for close to that price now. The city is making owners very wealthy and builders too. I have not sold anything in the last 5 years and my tenants are making me rich. I'm not sure why people even question buying real estate. The problem I have now is trying to buy more real estate because prices have gone up so much, and hardly any inventory. 2-3 years ago, I could buy houses in Inglewood, 50' foot lots with rental houses for around $300,000 and getting at least $1600+ rent a month. Interest payments are like $650 and property tax adds another $250.

Posted by kenny on Saturday, April 8th, 2017 at 4:16am

One house in Westmount that I got for $319.000 5 years ago, 48' X 148' lot in the Groat estates. I can knock that house down and build 2 side by side duplex and probably sell each duplex for $500,000-$575,000. Building costs are probably $150-$175. You can see how much profit I can make. If I decide not to build, my tenants are paying me $1900 a month for the last 4 years. So for all the naysayers, you are getting left behind. Look at places like Toronto and Vancouver, they won the lottery. If you rent your whole life, not going to get any benefit. In the end, real estate is all about location, location, location.

Posted by kenny on Saturday, April 8th, 2017 at 4:22am

Increasing prices

Posted by Wally on Saturday, April 8th, 2017 at 4:49am

Better as in increasing listings? Or better as in increasing prices?

Posted by GM on Saturday, April 8th, 2017 at 7:34am

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