Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:

New Listings: 563 (633, 611, 495)
Sales: 287 (317, 238, 308)
Ratio: 51% (50%, 39%, 62%)
Price Changes: 513 (559, 514, 514)
Expired/Off-Market Listings: 334 (344, 313, 632)
Net loss/gain in listings this week: -58 (-28, 60, -445)
Active single-family home listings: 3708 (3668, 3620, 3554)
Active condo listings: 2285 (2284, 2297, 2281)
Homes 4-week running average: $461 ($468, $460, $463)
Condos 4-week running average: $214 ($215, $218, $215)

Posted by Sara MacLennan on
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$40,000 average price drop. So far...
Hopefully prices don't completely collapse.
No end in sight to interest rate increases.
Inflation running hot, but house prices falling.

Posted by GM on Friday, September 23rd, 2022 at 7:20pm

I'm not sure that's the best take, GM. Sales are still normal, and the price decrease is pretty consistent with typical seasonal trends.

I also can't shake the feeling that there's a cliff around the corner very shortly, but I don't think I'd say that there's a lot of evidence for that yet.

Posted by Fraternite on Friday, September 23rd, 2022 at 8:41pm

I have followed this blog for years as I watch the market.

Still can't get rid of a condo bought in 2007 for half of what I paid for it. Buy real estate they said... lolz.

All the comments over the years about how one government or another is going to save or kill the real estate market have all been nothing more than wishful thinking.

Posted by Greg on Saturday, September 24th, 2022 at 3:00pm

Oil is getting close to its long term support level of 74 dollars U.S, a barrel. If the 74 level doesn't hold the next level is 60. Not good news at all for Alberta real estate. People on youtube never believe resale condos could be selling at half of what they sold for in 2007 in Edmonton. Absolutely no one on youtube believes it.

Posted by Tony on Sunday, September 25th, 2022 at 10:46am

Things looking fairly they have for about 10 years or more now. Likely some rough waters ahead for all assets, whether they be houses, equities, or cash. It will be a tough 2-4 years ahead as we slay inflation, but the good news is the labor market should remain strong due to demographic support.

Posted by Trev on Sunday, September 25th, 2022 at 11:17pm

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