Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 442 (447, 464, 428) # Sales: 249 (255, 300, 247) Ratio: 56% (57%, 65%, 58%) # Price Changes: 340 (367, 393, 314) Expired/Off-Market Listings: 451 (226, 218, 206) Net loss/gain in listings this week: -258 (-34, -54, -25) Active single-family home listings: 3057 (3180, 3183, 3188) Active condo listings: 2233 (2343, 2340, 2328) Homes 4-week running average: $432k ($434k, $427k, $429k) Condos 4-week running average: $226k ($225k, $222k, $217k) Have a great weekend!
Posted by Liv Real Estate on
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The lowest end of the resale apartment and lowest end of the resale townhouse market are in a strong uptrend gaining better than 5 percent in the last 2 weeks.

Posted by Tony on Thursday, November 5th, 2020 at 7:49pm

Where's the dang deferral cliff?

I have been waiting on the sidelines!!!!!

Posted by Jared on Saturday, November 7th, 2020 at 1:46am

Jared it can take a long time to play out. Just look at 2014 - 2020. Oil turned during the summer of ‘14. Many layoffs didn’t happen till 2015 as the Bank of Canada cut interest rates home prices kept rising till 2016 (?) in Edmonton, then grinding down since. This time people could defer most debt payments, access CERB etc. Plus record low interest rates. I believe Edmonton is the most affordable city in Canada and has one of the lower rates of home ownership in Canada. All of this is generally supportive of the market. Over time high unemployment, migration out of Alberta etc could eventually weight on prices. Lots of great options to rent these days so I’m in no rush buy. Maybe next year, maybe next decade I’ll decide to acquire some Alberta real estate.

Tony will stop by every week and find a green shoot somewhere in the market...but that green shoot always seems to get stomped to death.

Posted by Still employed in AB on Monday, November 9th, 2020 at 1:00am

Zolo paints a much brighter picture for Edmonton.

Posted by Tony on Thursday, November 12th, 2020 at 2:22am

Zolo forecasts rising inventory, declining sales, and rising prices. Call me a cynic but I have a hard time believing all 3 will happen at the same time for any sustained length of time.

Posted by Still employed in AB on Thursday, November 12th, 2020 at 4:36am

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