Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 692 (594, 631, 716) # Sales: 284 (270, 314, 325) Ratio: 41% (45%, 50%, 45%) # Price Changes: 566 (547, 312, 632) # Expired/Off Market Listings: 519 (519, 258, 299) Net loss/gain in listings this week: 322 (-195, 59, 92) Active single family home listings: 4700 (4628, 4696, 4640) Active condo listings: 3049 (3029, 3142, 3148) Homes 4-week running average: $449k ($439k, $442k, $440k) Condos 4-week running average: $238k ($238, $243k, $231k) The Bank of Canada raised rates yesterday, the fourth increase over the last 12 months and the first time the rate has been this high since December 2008. If you have a variable rate mortgage, your rate just went up, and the major banks all said they'd increase their prime rate by a quarter of a percentage point. I'll add some more thoughts on this shortly as I have to run to a meeting. Have a great weekend! Posted by Liv Real Estate on
Email Send a link to post via Email

Everyone will remember Ben Bernanke when the entire world implodes from zero and negative interest rates and excess debt (a product of Bernanke's zero interest rates). It really is a shame millennials are so lazy and thus zero demand for everything and consequently interest rates are at all time lows.

Posted by Tony on Thursday, July 12th, 2018 at 10:31pm

Yup and this means a lot of millennial will rent which will push up rental Costs and thus prices will likely stay stable.

Posted by Curtis on Thursday, July 12th, 2018 at 11:27pm

Tom, yes it is really nice to see prices going down 150k -200k at the high end and pick up those houses at a nice discount... I saw even $300k down from the initial listing... I would say the average will stay up as people will buy those high end discounted houses in the near term... 1% more in the next year added to the mortgage will offer even more opportunities.... low end market will stay leveled....

Posted by bubu on Friday, July 13th, 2018 at 12:23am


Yeah, for houses $800K+, there is a single buyer for every 10 houses in this price range, mostly high paid government managers from my experience. I've also seen huge price reductions ($200k+) in this range. But only those that NEED to sell are reducing prices. The rest will just pull it from the market and relist in the fall or the following spring.

Posted by Tom on Friday, July 13th, 2018 at 1:57am

correct... the issue in the fall or spring is the interest rate... it will be higher....

Posted by bubu on Friday, July 13th, 2018 at 4:40am

btw... high paid managers in the gov? What is considered high? 120-140k salaries for houses over $800k?

Posted by bubu on Friday, July 13th, 2018 at 4:57am

We just hit a multi year high price for this time of year in SFH!

Posted by Tom on Friday, July 13th, 2018 at 7:11am

Yeah, about $140K. They get a mortgage around 5x their income, which is manageable in today's low interest rate environment. And then the difference comes from the equity of selling a condo or starter home.

Posted by Tom on Friday, July 13th, 2018 at 8:43pm

There has got to be a psychology lesson in this week's comments. Apparently government managers make waaaaay more money than they do, banks lend them waaaay more money than they do, and the government managers are waaaaay stupider than the rest of us. What's this cognitive bias called? Anyone?

Posted by Anonymous on Saturday, July 14th, 2018 at 9:37pm

5x their income ? I think banks offer only 4 x but yes, there are other options.... Hopefully they will keep the jobs if UCP will win the elections... They don't have any marketable skills in case the loose the jobs...

Posted by bubu on Sunday, July 15th, 2018 at 3:56am

More like 3x.

Posted by Tony on Sunday, July 15th, 2018 at 7:14am

Leave A Comment

Please note that your email address is kept private upon posting.