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 median price was down 0.7% to $377,750. The average price of condos was down 14% from last December to $204,349 and the median price was down 7% to $194,500. The average price per square foot for single-family homes was down $4 to $276 and for condos was down $13 to $210 from last December.   Posted by Liv Real Estate on
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Thanks for the info in 2018. Really gave me some useful insight into the YEG market.

Posted by Greg on Wednesday, January 2nd, 2019 at 3:27am

I wonder what bottom looks like? I mean, most condos are probably down 20%+ vs 30 months ago. Is the future Phoenix, circa 2009 when things dropped 50-60% before bottoming? We aren’t faced with a backdrop of the GFC, so I don’t think so.

Anyone know of historical precedents where the bottom fell out of a petro-state within a state against a backdrop of mediocre growth in the wider country? Where did it end, and after how long? Some of the grey-beards: what happened in the early 80s? Would that be an apt comparison?

Posted by T-Rev on Sunday, January 6th, 2019 at 2:13am

I think when trying to forecast the “bottom” of our real estate marker , historical data will only get you so far .

Poor economic conditions , stagnant average net incomes , higher rates of divorce / separations , and generations of Canadians utilizing real estate downsizing as a retirement vehicle all contribute to an outcome nobody can predict .

This is a worldwide phenomenon which is exceptionally bad in Canada , especially our Alberta market.

I personally feel this fall we will see bottom , after the UCP’s austerity measures hit the capital city . With hopefully a slow rebound to begin in late 2020.

Posted by Nick11 on Monday, January 7th, 2019 at 5:36am

Thanks for sharing such type of informative post. I really like it. It will be very helpful for me. Thanks for sharing such insights. Great work. Much appreciated.

Posted by Marco Antonio on Wednesday, January 23rd, 2019 at 11:00pm

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