Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 803 (756, 741, 861)
Sales: 455 (449, 408, 479)
Ratio: 57% (59%, 55%, 56%)
Price Changes: 643 (642, 435, 508)
Expired/Off-Market Listings: 190 (290, 147, 190)
Net loss/gain in listings this week: 158 (17, 186, 192)
Active single-family home listings: 3150 (2975, 2942, 2754)
Active condo listings: 2448 (2377, 2358, 2294)
Homes 4-week running average: $478 ($481, $483, $488)
Condos 4-week running average: $233 ($239, $236, $236)
The party... is officially OVER.
Posted by GM on Friday, June 10th, 2022 at 3:07pmBring on the discounts! Still seeing a few homes coming on at aspirational prices. You think Realtors would advise clients to price aggresively to drive interest or risk sitting in MLS limbo for months. Then they will be in real trouble come Fall.
Posted by David Cho on Friday, June 10th, 2022 at 3:19pmAs 120 day mortgage rate locks come off in the coming months, I don't see home prices bottoming out anytime soon. Maybe next year. The question is, will we go back to pre-Covid pricing? That's a price decline of 20% to 25%.
Posted by Tom Smith on Saturday, June 11th, 2022 at 12:04pmLeave A Comment