Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 560 (572, 645, 617)
Sales: 284 (284, 292, 293)
Ratio: 51% (50%, 45%, 47%)
Price Changes: 456 (461, 566, 505)
Expired/Off-Market Listings: 251 (274, 296, 542)
Net loss/gain in listings this week: 25 (14, 57, -218)
Active single-family home listings: 3823 (3769, 3717, 3642)
Active condo listings: 2441 (2442, 2444, 2417)
Homes 4-week running average: $463 ($470, $480, $485)
Condos 4-week running average: $215 ($212, $219, $223)
Thanks for the update! Hopefully prices will now fall back down to 2018 levels, or even 2017. Low interest rates really created a bubble in prices in Edmonton IMO.
Posted by Tom on Friday, August 26th, 2022 at 2:00pmIs this the same Tom? The only way prices will go higher if oil is under 100 dollars U.S. a barrel is buyers buying from out of province. or Trudeau redirects immigration though or partially through Alberta.
Posted by Tony on Friday, August 26th, 2022 at 4:16pmThe party is most definitely over.
Posted by GM on Friday, August 26th, 2022 at 4:33pmI listened To Jerome Powell's recent Jackson Hole speech and things sound dire for real estate especially Canadian real estate. Jerome stated they want to keep interest rates high for a long time. Our dollar will capsize if the Bank of Canada cuts before the U.S. Fed does.
Posted by Tony on Saturday, August 27th, 2022 at 10:42amPrices continue to be up in Edm, and We are the most affordable major market in Canada. Things look bright for Edmonton.
Posted by MG on Monday, August 29th, 2022 at 12:53pmLeave A Comment