Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 473 (471, 478, 562) # Sales: 226 (235, 256, 237) Ratio: 48% (50%, 54%, 42%) # Price Changes: 427 (452, 437, 442) Expired/Off-Market Listings: 624 (222, 227, 263) Net loss/gain in listings this week: -377 (14, -5, 62) Active single-family home listings: 4045 (4277, 3776, 4222) Active condo listings: 2179 (2323, 2063, 2341) Homes 4-week running average: $417k ($420k, $428k, $430k) Condos 4-week running average: $215k ($217k, $220k, $228k) Have a great weeekend! Posted by Liv Real Estate on
Email Send a link to post via Email

Maybe it's time to switch to Median Price. LOL.

Posted by GPC on Thursday, October 3rd, 2019 at 8:05pm

Seems the potential buyers in Edmonton misunderstood the new equity sharing rules. They push up the price of residential real estate. The stress test threshold will be raised to $800,000 Canadian after Trudeau wins a landslide majority. That will push the national home price index sharply higher as will falling mortgage rates. In a falling interest rate environment you want to hold real assets or acquire more real assets. I guess Edmontonians just don’t get it?

Posted by Tony on Thursday, October 3rd, 2019 at 8:56pm

SOOOOO Sorry guys, there was an error in the numbers. We're correcting it right now.

Posted by Sara MacLennan on Thursday, October 3rd, 2019 at 9:13pm

A Bank of Canada interest rate cut is a done deal this October 30th after the U.S. jobs report and the Canadian PMI report. Mortgage rates will be cut again at the start of this November. The jobs numbers this October 11th won’t affect anything. Toronto home prices and rents to soar to the moon. They’ll be a lot of frozen bodies this winter in Toronto as there’s only so many hot air sewer grates to sleep on.

Posted by Tony on Thursday, October 3rd, 2019 at 9:30pm

Hold onto your hats! I'm in the trucking industry and we are the first to notice a downturn in the economy. For over 3 weeks now it's been extremely hard to find freight from coast to coast, not just Alberta. The recession is already here. On a good point, Alberta has been in a recession for awhile now so we are pretty use to just getting by.

I would suggest being very frugal for the next few months unless your sitting on a pile of cash.

Posted by Ron on Thursday, October 3rd, 2019 at 10:26pm

seems like an awfully large price drop on the average pricing for both SFH and Condos??

Posted by birdlady on Friday, October 4th, 2019 at 6:49am

Hi Sara,

was there a lack of $1 million + houses sold this week which would explain the large drop in both homes and condos?

Posted by tom on Friday, October 4th, 2019 at 7:19am

I know personally a friend who had to sell urgently needed to drop his house from $700,000 to $500,000 to sell in a 72 hours period. But I believe that is not the norm, even I have seen a number of $100,000 to $200,000 price reductions in the last few weeks on a number of $800,000ish homes.

Posted by Tom on Friday, October 4th, 2019 at 7:21am

I assume 2236 for sales is a typo

Posted by Taraz on Wednesday, October 9th, 2019 at 1:52am

Here's what I'm talking about. This is what falling mortgage rates will do to the homeless in Toronto. More and more people just like this person in the video will
freeze to death this winter. This is the sad part of negative interest rates.

Posted by Tony on Wednesday, October 9th, 2019 at 8:29pm

Leave A Comment

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