Weekly Update on the Edmonton Real Estate Market

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

New listings: 550 (558, 686, 627)
# Sales: 273 (321, 310, 257)
Ratio: 50% (58%, 45%, 41%)
# Price changes: 522 (563, 693, 628)
# Expired Listings: 787 (72, 74, 202)
# Canceled/withdrawn/terminated listings: 158 (163, 290, 62)
Net loss/gain in listings this week: -668 (2, 12, 106)
Active listings for single family homes: 4183 (4457, 4415, 4382)
Active listings for condos: 2882 (3094, 3111, 3105)

The monthly stats just came out yesterday so I'm going to keep this brief. That's the biggest drop in inventory all year, and the highest number of expired listings. I guess people don't have a big imagination when it comes to expiry dates. I would expect we will see a lot of those come back on the market, but I also am hearing a lot about sellers trying to rent out their "second" homes. Our thoughts on that are here...

As you can see inventory is dropping, sales will also drop as the year goes on. Please note I have changed the start date for the chart below to January 08 so it is only showing stats for this year now. Ineresting how the new listings and sales trends are almost parallel with about 400 more listings than sales on average.

Alright I guess I wasn't that brief....sorry...have a great weekend!