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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: 602 (516, 526, 606)
Sales: 379 (411, 430, 433)
Ratio: 63% (80%, 82%, 71%)
Price Changes: 371 (398, 344, 403)
Expired/Off-Market Listings: 395 (179, 203, 179)
Net loss/gain in listings this week: -172 (-74, -107, -6)
Active single-family home listings: 2905 (2976, 2958, 2973)
Active condo listings: 1877 (1914, 1917, 1919)
Homes 4-week running average: $467 ($473, $474, $484)
Condos 4-week running average: $226 ($220, $218, $217)
Sara can you comment as to why the SFH 4-week average price is dropping rapidly, while the ratio is still firmly in the seller's market range and active listings are low and still dropping?
Posted by Brandon on Sunday, July 9th, 2023 at 12:38pmHas there been a lot of low dollar home sales, or a lack of a small number of high dollar sales that's bringing the average down?
I'm sure the BOC interest rate increases are taking their toll, but I felt like the market prices would have held up better for another month give or take, due to high demand and low supply.
Thank you.
Hey Brandon,
Posted by Liv Real Estate on Monday, July 24th, 2023 at 11:09pmThanks for the question. It is due to increased sales in the lower price ranges.
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