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Weekly Update on the Edmonton Real Estate Market' I+ Y# ]7 s5 {; z& `" N: L! v
Here is our update on the Edmonton real estate market. (Previous week's numbers are in brackets). For the past 7 days: * i1 v- ^3 T- @
1 ?$ f) w9 U! h- e- l! ANew listings: 709 (762, 671, 566)
6 Y3 y+ S0 D$ D( g* J6 Y) l# Sales: 299 (300, 279, 293)5 x: L- I' x+ M9 V
Ratio: 42% (39%, 42%, 52%), b' X0 t3 y3 ^, @- [
# Price changes: 605 (768, 603, 493)2 O/ [. W" Q$ ~4 k
# Expired Listings: 192 (161, 450, 115)
' @1 M0 p; @ S' `* |' V" O, G# Canceled/withdrawn/terminated listings: 55 (61, 71, 39), Z& q1 Q4 B+ O0 B* |
Net loss/gain in listings this week: 163 (240, -129, 119)
; s: |: c, l P5 G$ m: h1 ]/ K% AActive listings for single family homes: 4223 (4163, 3985, 4088)5 ?* N, C/ b" w+ \9 w8 T* U8 N0 G
Active listings for condos: 3147 (3096, 2953, 2969)( b( H% [- ~* i& O
$ d6 x! e8 ]3 |+ gThe average sale price is actually up over last month to $348,044 (April's average was $336,93) which is about equal with last June's average but lower han last May.
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! q4 F. N# \* f" a; x/ oThere have been requests to compare the inventory and sales for condos and single family homes separately instead of lumping them together. I did some analysis and it really wasn't that interesting, but I did find some interesting tidbits. First, the new listings to sales ratio has been is consistently worse for condos than single family homes for quite some time. At the same time, the number of new listings is increasing faster for single family homes than condos, I expect that trend to reverse as all the new condos currently under construction start to come on the market - then we'll see even lower ratios for condos:
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Second, the price per square foot for condos seems to be trending down of late, while single family homes is up and down:7 a' D- t: o% L& D
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8 E5 u( [, M3 |- o% H9 d5 J7 Q$ RLastly, it's a long weekend which normally means lower activity and sales, so expect to see lower numbers next week. Enjoy the beautiful weather this weekend! 7 ~7 i7 [ N# o( @. n8 G5 g
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Posted by Sara MacLennan on May 16, 2008 at 01:33 PM in Weekly Update | Permalink | Comments (0) | TrackBack (0) ; f5 {* a; N+ V- r! z7 i
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