Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 481 (440, 467, 529) # Sales: 309 (280, 283, 288) Ratio: 64% (64%, 61%, 54%) # Price Changes: 261 (164, 170, 205) Expired/Off-Market Listings: 107 (114, 124, 297) Net loss/gain in listings this week: 65 (46, 69, -56) Active single-family home listings: 2142 (2133, 2111, 2120) Active condo listings: 2117 (2047, 1967, 1928) Homes 4-week running average: $425 ($415, $420, $430) Condos 4-week running average: $214 ($219, $220, $215) The Bank of Canada Governor Tiff Macklem warned the Calgary and Edmonton chambers of commerce this week that they're seeing signs of over-heating in the Canadian housing market this week. He acknowledged that the economy needs the stimulus of low interest rates, likely into 2023, but they are keeping a close eye on the housing market and suggested they may have to take action to cool things down. While we are seeing increased activity here in Edmonton, it's nothing like what is happening in other markets where multiple offers are the norm (in Vancouver 10+ un-conditional offers on any reasonably priced listings are the norm right now, with listings selling for tens of thousands over list price - reasonable being townhouses in the burbs for $600k). The last time this happened, they introduced the mortgage stress test, which seriously slowed down our market in tandem with low oil prices. Here's hoping they come up with a way of slowing down the insane markets and leaving us alone!   Posted by Liv Real Estate on
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20 percent overbids are the norm in Markham, Richmond Hill, Stouffville and Unionville Ontario if you can find anything for sale.

Posted by Tony on Thursday, February 25th, 2021 at 7:22pm

Yeah, well... that doesn't help us here in Alberta.

Posted by GM on Thursday, February 25th, 2021 at 9:48pm

The low-interest-rate seems to be a major cause of high housing prices.

Posted by Sharon on Friday, February 26th, 2021 at 12:20am

TIff's right. It's actually getting hot in Edmonton too. Sales are running white hot!

Posted by Tom on Friday, February 26th, 2021 at 12:36am

Well prices certainly aren't.

Posted by GM on Friday, February 26th, 2021 at 3:20am

A year ago, my house is worth about 1 million, now it's 1.4 and probably closes to 1.5 if I want to sell. However, I don't know where I can live except going back to Calgary, with COVID, nobody wants to sell their SFH, and move.

Who know what will happen a year from now. My gut said the same house will be probably 1.25 ish

Posted by Jason (Toronto) on Friday, February 26th, 2021 at 8:35pm

Sounds like another strong reason for Alberta independence. Alberta is not anything like the rest of Canada, economically or politically, and should not be governed as such.

Posted by Dave Kosinski on Saturday, February 27th, 2021 at 1:03am

Re: The low-interest-rate seems to be a major cause of high housing prices.

The entire world seems to think the only direction for the U.S. dollar is off a cliff to save the fraud U.S. stock market and the U.S. banking system from implosion. This will blow the asset bubble even higher. Eventually this could lead to triple digit oil prices even as demand for oil falls as oil is priced in U.S. dollars.

Posted by Tony on Saturday, February 27th, 2021 at 4:30am

Tony, I can understand what you said. Trump economy is just fake, supported by money-printing.

Posted by Sharon on Saturday, February 27th, 2021 at 6:33am

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