Weekly Market Update June 4/21

Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 833 (698, 741, 773) # Sales: 439 (459, 462, 478) Ratio: 53% (66%, 62%, 62%) # Price Changes: 493 (404, 458, 383) Expired/Off-Market Listings: 376 (164, 179, 171) Net loss/gain in listings this week: 18 (75, 100, 124) Active single-family home listings: 2982 (2923, 2897, 2844) Active condo listings: 2985 (3013, 2942, 2905) Homes 4-week running average: $462 ($454, $457, $456) Condos 4-week running average: $227 ($233, $232, $233) Funny how I predicted just a few days ago that new listings would continue their downward trend for the remainder of the year. We normally see new listings jump in the first week of each month because contracts tend to end on the last day of the month, so the properties that didn't sell come back on the market in the first week of the month. Well, we've only cracked 800 listings in one week four times since 2007, so go ahead and call me wrong. If new listings don't come back down next week, inventory could be on the high side of normal by the end of the month.

“People Who Are Crazy Enough To Think They Can Change The World, Are The Ones Who Do.” – Rob Siltanen Posted by Liv Real Estate on June 4th, 2021

I love the sharp move upwards. Hopefully we can crack $500,000 average for a detached SFD in the next 12 months.

Posted by Tom on Thursday, June 3rd, 2021 at 8:38pm

Hi Sara

Thanks for sharing this with us. Could you observe in the data if the jump in the listings is due to SFs or condos? They have behaved very differently over the past few months, so I am curious if either type is behind the jump.

Posted by Alex on Thursday, June 3rd, 2021 at 11:17pm

Why are listings skyrocketing all of a sudden?

Posted by GM on Thursday, June 3rd, 2021 at 11:47pm

Who could’ve predicted this?!?

Posted by T-Rev on Friday, June 4th, 2021 at 1:27am

Gas Price is at $1.33 regular and trend up here in GTA. So does that mean a reverse in Alberta Economy?

I guess most people want to sell before it goes down again. It's always Greed and Fear. However, I believe owning a property is the wise choice in the world we are in. Inflation is going to be out of control if not already.

Posted by Jason (Toronto) on Saturday, June 5th, 2021 at 2:30am

Jason,

Owning a property is a wise choice... unless your government confiscates it according to Agenda 2030.

Posted by GM on Saturday, June 5th, 2021 at 9:53pm

It used to be the price of oil had to jump above 80 dollars a barrel U.S. to affect housing prices in Edmonton. Unfortunately with the rise in the Canadian dollar 80 will now become 90 or higher to affect home prices in Edmonton. Trump used to cap the price of oil if it went too high (above 75 dollars). We'll have to see if Biden gets on the phone like Trump always did to squash the price of oil should it ever get to that level. Remember everything is rigged and America and the world can't withstand high oil and natural gas prices. Supply and demand will likely mean nothing as everything is rigged to the nth degree today.

Posted by Tony on Saturday, June 5th, 2021 at 11:11pm

Agenda 2030! LOL

Who can guess we may be at par with USD.

Posted by Jason (Toronto) on Sunday, June 6th, 2021 at 12:54am

GM: you are exactly right!! This will happen and well before 2030 as the "elite" are scheduled to meet in September. Sadly, many like Jason will be shocked and saddened when it hits.

Posted by Rick on Thursday, June 10th, 2021 at 11:17pm

Weekly Market Update June 4/21

Leave A Comment