Weekly Market Update, June 8/18

Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 787 (683, 599, 765) # Sales: 271 (335, 271, 346) Ratio: 34% (49%, 45%, 33%) # Price Changes: 567 (584, 507, 569) # Expired/Off Market Listings: 437 (195, 237, 194) Net loss/gain in listings this week: 79 (-42, 133, 182) Active single family home listings: 4483 (4340, 4342, 4256) Active condo listings: 3033 (2944, 2990, 2932) Homes 4-week running average: $444k ($448k, $449k, $436k) Condos 4-week running average: $245k ($243k, $253k, $247k) Single-family home inventory has now hit a 9-year high in Edmonton and condo inventory is getting close. Based on the number of new listings and price reductions, sellers are doing whatever they can to sell while facing stiff competition.

Have a great weekend! Posted by Liv Real Estate on June 8th, 2018

There's always hope retirees from British Columbia and Ontario will sell and retire in Edmonton for tax reasons (no surtaxes or super surtaxes) and the cost of living being next to free.

Posted by Tony on Thursday, June 7th, 2018 at 11:05pm

Hopefully now that oil is recovering the city and provincial governments can hire more people and create more jobs in Edmonton.

Government jobs and construction have been the big driver in Edmonton employment recently.

Posted by Tom on Friday, June 8th, 2018 at 4:25am

Hopefully the government can hire more people??? Ugh, no thanks. The economy has been destroyed enough.

Posted by Karlhungus on Friday, June 8th, 2018 at 9:35pm

Single house is pretty hard to rent after people relocated because of the snow.

Posted by Sharon Zhou on Saturday, June 9th, 2018 at 2:46am

Agree 100%.

I lived in Edmonton and Calgary for a long time and now retire in Toronto.

Yes, it is more expensive, but winter is bearable and Europe and East coast is just a step away. Not to mention that you actually have something to do in the city.

Posted by Jason (Toronto on Saturday, June 9th, 2018 at 3:27am

Sure, Tony.
Who wouldn't want to leave British Columbia, with all its greenery, lakes, and mountains for a wonderful place like Edmonton where they can enjoy the mosquitoes in summer and the bitter cold in winter.

Posted by GM on Saturday, June 9th, 2018 at 7:56am

It looks to me, everybody is hopping to hit the jackpot listing at way higher prices than the value of the houses... or they need those prices to pay for their high debt...

Posted by bubu on Sunday, June 10th, 2018 at 6:18am

@Tony not sure Edmonton is a destination for retirees!

Posted by Sty on Monday, June 11th, 2018 at 4:50am

Yikes. No sense listing in this mess.

Posted by Greg on Tuesday, June 12th, 2018 at 2:27am

Weekly Market Update, June 8/18

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