Weekly Update on the Edmonton Real Estate Market
June 5, 2008 – 11:34 pmEdmonton Real Estate Blog
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New listings: 608 (709, 762, 671)
# Sales: 245 (299, 300, 279)
Ratio: 40% (42%, 39%, 42%)
# Price changes: 572 (605, 768, 603)
# Expired Listings: 205 (192, 161, 450)
# Canceled/withdrawn/terminated listings: 57 (55, 61, 71)
Net loss/gain in listings this week: 101 (163, 240, -129)
Active listings for single family homes: 4303 (4223, 4163, 3985)
Active listings for condos: 3210 (3147, 3096, 2953)
The average sale price is still up over last month to $344,123 (April’s average was $336,93) and sales for the month are at 1283 - which should put us somewhere around 1700 for the month - perhaps the sales have peaked early this year. Inventory is at a new high of 11,538.
One thing for certain, we were at Hole’s last weekend and there were hundreds of people getting gardening supplies who weren’t out looking at houses. Who wants to look at houses on the first gorgeous weekend of the year? Who wants to look at houses in the pouring rain….maybe weather has nothing to do with it!
From the inventory analysis, you can really see a pattern forming with new listings…lots of expiries at the end of the month, then new listings peak in the 1st or 2nd week of each month and tail off again…. I guess that means we should have another new crop coming in two week’s time. Happy weekend!