Weekly Update on the Edmonton Real Estate Market
June 23, 2008 – 11:05 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: 627 (757, 660, 608)
# Sales: 257 (280, 287, 245)
Ratio: 41% (37%, 43%, 40%)
# Price changes: 628 (617, 671, 572)
# Expired Listings: 202 (625, 103, 205)
# Canceled/withdrawn/terminated listings: 62 (62, 73, 57, 55)
Net loss/gain in listings this week: 106 (-210, 197, 101)
Active listings for single family homes: 4382 (4287, 4371, 4303)
Active listings for condos: 3105 (3061, 3233, 3210)
If the pattern holds up that we’ve seen over the past few months, we should see even fewer new listings next week and sales somewhere between 250-280. We may be nearing the peak of inventory. The new listings to sales ratio for the month so far is 42%, just like the past few months.
The average residential selling price so far for June is $343,547 (up from $340,499 in May), and the price per square foot is also up from last month (keeping in mind of course that there is less data to work with so early in the month and these stats do not necessarily indicate a trend).
Happy Weekend!