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: 686 (627, 757, 660)
# Sales: 310 (257, 280, 287)
Ratio: 45% (41%, 37%, 43%)
# Price changes: 693 (628, 617, 671)
# Expired Listings: 74 (202, 625, 103)
# Canceled/withdrawn/terminated listings: 290 (62, 62, 73)
Net loss/gain in listings this week: 12 (106, -210, 197)
Active listings for single family homes: 4415 (4382, 4287, 4371)
Active listings for condos: 3111 (3105, 3061, 3233)
That’s the most number of sales in a week since I’ve been keeping track (October ‘07). Sales to new listings ratio is solidly in a balanced market, and the average price is up slightly from last week at $345,740. Last week we suggested we could be nearing the peak of inventory, and this further suggests we could be close. On the street, things definitely seem busy - Sheldon and I have been going like stink for the past few weeks.
If you compare the above chart to previous weeks, say back in April or March, you can see the difference in the trend lines is lessening, hopefully sales will catch up with listings soon… I think we are a ways off there though.