Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 237 (396, 318, 355) # Sales: 160 (179, 195, 179) Ratio: 68% (45%, 61%, 50%) # Price Changes: 236 (267, 294, 316) # Expired/Off Market Listings: 210 (563, 241, 287) Net loss/gain in listings this week: -133 (-346, -118, -111) Active single family home listings: 3577 (3682, 3886, 3940) Active condo listings: 2068 (2070, 2177, 2218) Homes 4-week running average: $420k ($415k, $427k, $429k) Condos 4-week running average: $205k ($207k, $212k, $215k) Have a great weekend! Posted by Liv Real Estate on
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Condo prices headed straight to hell. Yikes.

Posted by GM on Thursday, December 13th, 2018 at 11:03pm

Is there any more data (or even anecdotes) around the condo price drops? There are a few buildings I've kept an eye on for a while, mostly across the south side, and haven't seen any significant price drops. There's not a lot an average will tell you here... this could mean price drops in a specific area of the city, fewer high end sales/more sales shifting to cheaper units, etc.

I've seen a handful of periods of high supply and low demand too, which hasn't typically typically resulting in major price moves over the last 10 years - it would seem new mortgage rules are the most significant factor here, but if anyone else has thoughts on what's ultimately driving the dropping the 4 week moving average let me know.

Posted by Matt on Saturday, December 15th, 2018 at 7:59pm

I'd say the price drop has more to do with Trudeau blundering on the pipeline and Notley doing everything she can to kill oil production in Alberta.

Posted by GM on Monday, December 17th, 2018 at 11:50pm

GM prices are dropping in many parts of the globe. I think the issues are macro as much as micro. Part of the cycle.

Posted by Stu on Tuesday, December 18th, 2018 at 2:47am

Also prices are dropping because of the higher interest rates and the new stress test.

Posted by Wally on Thursday, December 20th, 2018 at 1:57am

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