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Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 493 (562, 490, 480)
Sales: 434 (509, 377, 366)
Ratio: 88% (91%, 77%, 76%)
Price Changes: 227 (243, 219, 190)
Expired/Off-Market Listings: 110 (125, 140, 265)
Net loss/gain in listings this week: -51 (-72, -27, -151)
Active single-family home listings: 1297 (1319, 1293, 1401)
Active condo listings: 1832 (1860, 1807, 1769)
Homes 4-week running average: $471 ($467, $459, $447)
Condos 4-week running average: $219 ($222, $225, $220)
It's insane out there. The market is absolutely bonkers from what I'm seeing. Any decent detached homes are going to multiple offers, often with insane bully bids and no conditions.
Posted by Tom on Friday, February 25th, 2022 at 2:27pmThe Bank of Canada raised the Bank of Canada rate one quarter of a percent today. Like America the U.S. Fed will always be way behind on the interest rate curve meaning hyperinflation will be the likely result. America will see hyperinflation while Canada sees stagflation beginning in 2023 once the midterm elections are over in America.
Posted by Tony on Wednesday, March 2nd, 2022 at 10:58amLeave A Comment