Weekly Market Update, Jan. 15/21

Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 437 (360, 101, 178) # Sales: 213 (161, 102, 204) Ratio: 49% (45%, 101%, 115%) # Price Changes: 170 (154, 95, 84) Expired/Off-Market Listings: 143 (530, 511, 189) Net loss/gain in listings this week: 81 (-331, -512, -225) Active single-family home listings: 2135 (2095, 2087, 2371) Active condo listings: 1838 (1784, 1730, 1950) Homes 4-week running average: $430k ($412k, $404k, $415k) Condos 4-week running average: $209 ($212k, $219k, $222k) In the past, I've mentioned that Alberta's net migration was negative in Q2 2020 for the first time since the 80's, and it looks like Q3 was still negative but started heading in the right direction. Interestingly, Stats Canada released stats this week showing that Edmonton's population grew by 1.8% last year. According to the data, Alberta's capital has a population of 1,468,926. A growing population increases the demand for real estate and we're happy to have more people moving to the Edmonton area.

"Don't Count the Days; Make the Days Count." Muhammad Ali Posted by Liv Real Estate on January 14th, 2021

Good start to the year! Up around 4% YoY so far. With homes in the suburbs of Toronto up over 30% year over year, I I think we should be around $525,000 this time next year, and then hopefully closer to $600,000 average by 2023. This, of course, is assuming an oil rebound, and rates stay low.

Posted by Tom on Thursday, January 14th, 2021 at 7:24pm

$525,000 is a far cry from where we are now, at $430,000. That would be a 22% rise in price.
I hope you're right.

Posted by GM on Thursday, January 14th, 2021 at 8:37pm

Weekly Market Update, Jan. 15/21

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