Weekly Market Update, April 27/18

Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 644 (627, 672, 580) # Sales: 278 (294, 248, 173) Ratio: 43% (47%, 37%, 30%) # Price Changes: 455 (349, 386, 333) # Expired/Off Market Listings: 159 (195, 198, 318) Net loss/gain in listings this week: 207 (138, 226, 89) Active single family home listings: 3815 (3702, 3578, 3416) Active condo listings: 2761 (2682, 2638, 2560) Homes 4-week running average: $426k ($440k, $445k, $443k) Condos 4-week running average: $242k ($231k, $235k, $232k) With single-family inventory approaching record levels, it's not surprising to see so many price reductions and the average price on the decline.

Have a great weekend! Posted by Liv Real Estate on April 27th, 2018

I think the 5 year mortgage rate will also affect price soon... TD and RBC increased their qualifying rate already....

Posted by bubu on Thursday, April 26th, 2018 at 11:09pm

old school.. everybody's using crypto now not cash....

Posted by bubu on Friday, April 27th, 2018 at 8:29pm

lol

Posted by Anonymous on Friday, April 27th, 2018 at 8:29pm

That was directed at Tony, btw.

Posted by Anonymous on Friday, April 27th, 2018 at 8:30pm

Interesting statement Tony, "almost anyone can just pay cash for a house" - did you mean Chinese drug cartel? I hear about many Edmontonians who are trying to get approved for mortgage and are being rejected by banks.

Posted by Reggie on Saturday, April 28th, 2018 at 12:48am

It will in cities were the average home is well over one million dollars but it shouldn't affect Edmonton because almost anyone can just pay cash for a house.

Posted by Tony on Saturday, April 28th, 2018 at 6:11am

That's a years worth of rent that houses took this week

Posted by arfmoocat on Monday, April 30th, 2018 at 3:22am

The prices are so low almost anyone can pay out of pocket. Why take out a mortgage if you don't need to?

Posted by Tony on Friday, May 4th, 2018 at 6:35am

Weekly Market Update, April 27/18

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