Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 428 (565, 459, 515) # Sales: 247 (279, 338, 309) Ratio: 58% (49%, 74%, 60%) # Price Changes: 314 (387, 400, 409) Expired/Off-Market Listings: 206 (244, 510, 227) Net loss/gain in listings this week: -25 (42, -389, -21) Active single-family home listings: 3188 (3205, 3171, 3361) Active condo listings: 2328 (2311, 2277, 2417) Homes 4-week running average: $429k ($428k, $428k, $431k) Condos 4-week running average: $217k ($217k, $225k, $230k) Interesting information from CMHC this week - Edmonton had the highest percentage of mortgage deferrals for any major city in Canada (21%) and Alberta had the highest percentage of any province (19% which is more than double Ontario and Quebec). One mortgage broker said about half of his deferrals were clients deferred mortgages so they could save money or pay off other debts while the other half really needed the deferrals to avoid foreclosure. This supports our theory that there will be an increase in foreclosure listings in the new year. Have a great weekend!
Posted by Liv Real Estate on
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