Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 452 (511, 461, 459) # Sales: 206 (189, 177, 174) Ratio: 46% (37%, 38%, 38%) # Price Changes: 250 (197, 215, 212) # Expired/Off Market Listings: 145 (155, 393, 163) Net loss/gain in listings this week: 101 (167, -109, 122) Active single family home listings: 2743 (2688, 2571, 2632) Active condo listings: 2145 (2089, 2003, 2042) Homes 4-week running average: $442k ($456k, $443k, $429k) Condos 4-week running average: $234k ($225k, $222k, $226k) Well if this article doesn't prove real estate markets are local, I don't know what does: "Canadian home sales, listings slump in January with arrival of new mortgage rules." In Edmonton, we've got the complete opposite of the "national market:" higher listings (and higher inventory - see below) and higher sales than last year. Have a great weekend! Posted by Liv Real Estate on
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Great to see us bucking the national trends with a very healthy market with higher sales. I agree, this proves that trends such as higher rated and tougher mortgage restrictiond aren't affecting us much! Here's to a red hot spring!

Posted by Tom on Thursday, February 15th, 2018 at 7:37pm

Condo prices the worst in 5 years, yikes

Posted by Karlhungus on Thursday, February 15th, 2018 at 8:32pm

Huffpost is posting different numbers for Edmonton...

Who is telling the truth???

Posted by bubu on Thursday, February 15th, 2018 at 8:37pm

Those numbers are for January.

Posted by Sara MacLennan on Thursday, February 15th, 2018 at 9:27pm

So this blogs story is that we're trending in the opposite direction, i.e. higher listings and sales.

How much higher exactly?
Is this sustainable in the long run?

I think when you look a bit closer (which most people don't and this blogs knows that) the real story is that we are in a buyers market as defined by a sales to listing ratio that has been well below 50% for some weeks now and the market will remain this way for the foreseeable future.

Sales will lag this year, as will prices.

Remember, ignore the average price, it's meaningless.

Markets may be local but national trends do have an effect on local markets.

Posted by GPC on Thursday, February 15th, 2018 at 9:53pm

yes, the CBC link you refer is talking about January also...

Posted by bubu on Thursday, February 15th, 2018 at 10:00pm

Me. The truth is those numbers are not even for January but for December because Teranet stats are a bit delayed but regardless it doesn't mean anything for now because of the pre-approvals. I think we will have a better picture starting somewhere in March or April and it might take longer for the fog to clear. By the end of the year you'll know much of the truth.

Posted by Wally on Thursday, February 15th, 2018 at 10:08pm

I have been following this site since 2015.

Corrections are often made to admitted "errors" in the reports.

I also find this forum to be loaded with contradictory and bogus comments that paint an unreliable picture of Edmonton's real estate market.

Until now the postings are allowed to be made under symbolic names.

To infuse some reliability, I suggest the postings to be a allowed if the posters disclose their verifiable full names and businesses.

The site operators have a responsibility towards the readers especially those that may have a potential interest in the Edmonton market.

Hope measures are taken to rectify the situation before I abstain from checking out this site.

Dr. Mohamed Foda

Posted by Mohamed Foda on Thursday, February 15th, 2018 at 11:04pm

Hi, it looks like the banks don't approve mortgages for more than 4 times the income... Do you know any other option in Edmonton?

Posted by Dan on Friday, February 16th, 2018 at 3:37am

Really, 4 times the income. That is, if your family income is $100,000, you can only afford $400K house.

That is not true unless you have a very high debt ratio

Posted by Jason (Toronto) on Tuesday, February 20th, 2018 at 3:03am

Thanks for calling Sara out on this BUBU.

We all know that whoever controls the headlines creates the story...unless you fact check the story behind the headlines!

Posted by GPC on Tuesday, February 20th, 2018 at 4:57am

The four times figure is actually true, for banks. I made $50,000 salary when I moved to Edmonton 7 years ago. Banks only pre approved me for around $200k mortgage. I ended up going to a credit union, and got a mortgage for $340k, and bought a house worth $395k. The house is now worth almost $700,000, which works out to be an 8% annual increase for the seven years.

Posted by Tom on Tuesday, February 20th, 2018 at 8:05pm

Thanks Tom, can you please tell me the credit union name?

Posted by Dan on Friday, February 23rd, 2018 at 6:09am

Thanks for the suggestion Dr. Foda, I really do appreciate your comments. I have tried that in the past and there was no discussion at all. I appreciate the discussion and differing points of view, I've learned quite a bit from the comments on this blog over the year. At times, it gets very confrontational, and the anonymity of it all seems empower people to say things they wouldn't say otherwise. I can't tell you the number of people we've met with, who say they love reading our blog "but they don't comment" because they don't want to be associated with all the craziness. I do hope you'll keep reading and commenting.

Posted by Sara MacLennan on Friday, March 2nd, 2018 at 5:48am

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