Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 497 (536, 378, 304) # Sales: 174 (141, 157, 107) Ratio: 35% (26%, 42%, 35%) # Price Changes:  249 (242, 230, 190) Expired/Off-Market Listings: 216 (419, 386, 146) Net loss/gain in listings this week: 107 (-24, -165, 51) Active single-family home listings: 3432 (3363 ,3249, 3327) Active condo listings: 2075 (2032, 1975, 2047) Homes 4-week running average: $407k ($407k, $407k, $404k) Condos 4-week running average: $202k ($220k, $216k, $223k) It's nice to see sales picking up, although they are still well below normal. There are a lot of people looking right now - traffic to our website is hitting all-time highs, and our agents are very busy showing homes. It takes a little more time and effort to put deals together at the moment, and more deals are happening in the lower price ranges. For example, there is about a 4 month supply of single-family homes priced between $300-$400k, and a 40 month supply of homes between $1million-$2million... nothing over $2million has sold since February. I also found an interesting report from RBC about how COVID-19 is expected to affect the economies of each province; not surprisingly, Alberta is going to get hit hard. I don't usually post promotional stuff in my weekly reports, but this might be of interest to some of you - we're hosting our first-ever Virtual Open House LIVathon on Monday, check it out on our Facebook page. Have a great weekend!
Posted by Liv Real Estate on

Enjoy this blog post? Click here to subscribe for updates

Email Send a link to post via Email

Leave A Comment

e.g. yourwebsitename.com
Please note that your email address is kept private upon posting.