Weekly Market Update, Feb. 8/19

I think you have a typo for new listings. If not we are in trouble, lol

Why are condo averages still so high? You can get decent condos now for $120,000 near downtown.

It still costs twice as much to rent than it costs to own a resale townhouse or resale apartment. I can't see resale prices falling much further unless everyone leaves the city. Interest rates are headed downward not upward so the rest of Canada might pull Alberta real estate upward with it.

Did the Sky Condos drop in price Tom?

Yeah if you don't mind getting stabbed.

Tony, Where are you renting? Because the condo I rent (desirable neighbourhood and street) it would cost 50% more to own that rent. In fact I’m ahead by well over 50k by renting the last couple years between declining condo prices and the cost difference between owning and renting.

That was pretty much the mindset in the US ten years back when you could buy a pretty nice 1200 squ ft bungalow for around 80,000 in most of the major cities.

Tony , tell to my friend , he just lost more then 40 k on downtown condo . Interest rate are headed downward ? It was mistake to legalize pot.

Yep, sorry about that and sorry about the delay fixing it... was in transit all weekend.

Last month there were a bunch of cheaper single family houses for sale under $150k in the scummy area north of downtown, now there are only two. I'm curious if these listings just expired or if these properties actually sold. A few appeared to be foreclosures (as is, where is).

Side note: I remember years back when the cheapest single family home in Edmonton was $245k (I think it was around 2009), and the foundation was clearly having issues. Things sure have changed.

lol what a great analysis