Weekly Update on the Edmonton Real Estate Market

qwlimited

2008-12-05

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

: ~( Y% X9 v/ R& N, {New listings: 286 (297 , 321, 356)
3 g  _* r$ R1 z4 o# Sales: 125 (169, 162, 146)
- x- B- ~6 W- `; GRatio: 44% (57% , 50%, 41%)
# Price changes: 297 (347, 321, 357)
' Y% Z4 v7 h+ a# Expired Listings: 503 (139, 231, 150)
& B) y3 K1 O/ |& y% }# Canceled/withdrawn/terminated listings: 46 (26, 36, 47)
& B2 i2 O, ?1 n( F. U7 sNet loss/gain in listings this week: -388 (-37, -108, 13)
Active listings for single family homes: 2991 (3200, 3188, 3236)
' ?3 T7 M* z: f% p2 Y. |8 O" x' jActive listings for condos: 1986 (2158, 2177, 2219)
3 |/ ?! k# J; T; \; g+ z5 [) f
That's about half as many new listings and sales as the same time last year. This week is also the first week we've seen single family inventory below 3000 and since February, and the first week since January we've seen condo inventory below 2000.

If you add political turmoil to economic uncertainty, it's no surprise many buyers may have jumped back onto the fence (or stayed on the fence!). There seems to be a "wait and see" mentality for both buyers and sellers in Edmonton right now, party due to the time of year, and partly due to the economic climate.

ming

Thanks