Edmonton Real Estate Blog

Weekly Update on the Edmonton Real Estate Market

A day late this week, very sorry for those who were waiting for the numbers but it was unavoidable. So here is our update on the Edmonton real estate market. (Previous week's numbers are in brackets). For the past 7 days:

New listings: 762 (671, 566, 823)
# Sales: 300 (279, 293, 336)
Ratio: 39% (42%, 52%, 41%)
# Price changes: 768 (603, 493, 679)
# Expired Listings: 161 (450, 115, 181)
# Canceled/withdrawn/terminated listings: 61 (71, 39, 65)
Net loss/gain in listings this week: 240 (-129, 119, 241)
Active listings for single family homes: 4163 (3985, 4088, 4063)
Active listings for condos: 3096 (2953, 2969, 2921)

That's the most price changes we've seen in a week since we've been keeping track, by a pretty big margin. Probably means people are starting to get a bit more serious about selling and could affect average sale prices.

Weekly Update on the Edmonton Real Estate Market

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

New listings: 671 (566, 823, 869)
# Sales: 279 (293, 336, 272)
Ratio: 42% (52%, 41%, 31%, 36%)
# Price changes: 603 (493, 679,567, 550)
# Expired Listings: 450 (115, 181, 125)
# Canceled/withdrawn/terminated listings: 71 (39, 65, 65)
Net loss/gain in listings this week: -129 (119, 241, 407)
Active listings for single family homes: 3985 (4088, 4063, 3888)
Active listings for condos: 2953 (2969, 2921, 2851)

That is the first decrease in overall inventory we've seen since January. Granted, we see a larger number of expired listings at the end of each month, which certainly contributed, but a shrinking inventory is good news for everyone right now in my opinion.

Weekly Update on the Edmonton Real Estate Market

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

New listings: 566 (823, 869, 780)
# Sales: 293 (336, 272, 284)
Ratio: 52% (41%, 31%, 36%, 41%)
# Price changes: 493 (679,567, 550, 450)
# Expired Listings: 115 (181, 125, 408)
# Canceled/withdrawn/terminated listings: 39 (65, 65, 60, 39)
Net loss/gain in listings this week: 119 (241, 407, 28, 217)
Active listings for single family homes: 4088 (4063, 3888, 3694)
Active listings for condos: 2969 (2921, 2851, 2692)

Sheldon had some thoughts to share this week:

Positive changes this week for sure. The average residential selling price so far for this month is $335,683 which is up slightly from last week but still down from March, as is price per square foot. Inventory is at 10,737 and sales at 1,311. Projected out that should put us just over 1500 for the month. As you can see, new listings are definitely on the decline:

Weekly Update on the Edmonton Real Estate Market

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

New listings: 823 (869, 780, 574)
# Sales: 336 (272, 284, 235)
Ratio: 41% (31%, 36%, 41%)
# Price changes: 679 (567, 550, 450)
# Expired Listings: 181 (125, 408, 83)
# Canceled, withdrawn and terminated listings: 65 (65, 60, 39)
Net loss/gain in listings this week: 241 (407, 28, 217)
Active listings for single family homes: 4063 (3888, 3694, 3649)
Active listings for condos: 2921 (2851, 2692, 2669)

That's the highest number of sales in a week since we've been doing the weekly update (over 6 months). That's also the highest number of price changes. Average price is holding steady at $333 and change. Current inventry is 10,597 and there have been 1052 sales so far this month. Price per square foot according to Bob Truman's site is basically unchanged.

Weekly Update on the Edmonton Real Estate Market

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

New listings: 869 (780, 574, 669)
# Sales: 272 (284, 235, 263)
Ratio: 31% (36%, 41%, 39%)
# Price changes: 567 (550, 450, 465)
# Expired Listings: 125 (408, 83, 152)
# Canceled, withdrawn and terminated listings: 65 (60, 39, 66)
Net loss/gain in listings this week: 407 (28, 217, 188)
Active listings for single family homes: 3888 (3694, 3649, 3496)
Active listings for condos: 2851 (2692, 2669, 2608)

Wow that's a lot of new listings! That's all I have to say about that ;)

The average residential sale price for April so ar is $333,030, down from March's average of $343,760. Price per square foot also took a hit for single family homes, but increased slightly for condos:

Happy weekend - enjoy Sunny Edmonton!

Weekly Update on the Edmonton Real Estate Market

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

New listings: 780 (574, 669, 714)
# Sales: 284 (235, 263, 259)
Ratio: 36% (41%, 39%, 36%)
# Price changes: 550 (450, 465, 411)
# Expired Listings: 408 (83, 152, 137)
# Canceled, withdrawn and terminated listings: 60 (39, 66, 58)
Net loss/gain in listings this week: 28 (217, 188, 260)
Active listings for single family homes: 3694(3649, 3496, 3367)
Active listings for condos: 2692 (2669, 2608, 2541)

That's the most new listings we've seen in a single week since we started tracking! However, there is a bit of a pattern developing....at the end of one month a lot of listings expire, and in the week following I would imagine a lot of those people re-list their homes accounting for the high number of new listings. Overall the net is an increase in inventory of 28 listings.

On a side note, I received a note from the Realtors Association of Edmonton explaining the difference between the daily stats and the monthly stats. Turns out there was a glitch with the computer and it didn't count some of the days in the month - understandable since this was the first month they did it. The good news is they should match up next month (within a small margin of error since the reports are run at different times and the database is dynamic). Awesome!

The board also put out a really interesting stat today comparing inventory to migration in Alberta stating:

In 2006-7 the available inventory dropped to record low levels. Then suddenly in the last part of 2007 it climbed to near record high levels. New figures released by Alberta Finance and Enterprise, Economics and Statistics in March show a startling correlation between Migration to Alberta and the MLS® inventory.

In 2003 and 2004 migration was between 5,000 and 10,000 persons per quarter. Inventory was fairly stable around 4,000 units. In 2005 and 2006 in-migration rose steadily to a high of 31,000 people in the third quarter of 2006. As those people snapped up the available homes, the inventory dropped. Then in-migration slowed again and inventory started to climb. In the second half of 2007 migration dropped back to 2003 levels. The housing market was unable to respond as quickly and housing inventory soared.

The graph shows the correlation very clearly. As migration went up, inventory went down. Then as migration bottomed out, inventory increased. The chart does not explain why migration figures were so erratic but they do show why our inventory was so volatile.


Happy Weekend!

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

New listings: 780 (574, 669, 714)
# Sales: 284 (235, 263, 259)
Ratio: 36% (41%, 39%, 36%)
# Price changes: 550 (450, 465, 411)
# Expired Listings: 408 (83, 152, 137)
# Canceled, withdrawn and terminated listings: 60 (39, 66, 58)
Net loss/gain in listings this week: 28 (217, 188, 260)
Active listings for single family homes: 3694(3649, 3496, 3367)
Active listings for condos: 2692 (2669, 2608, 2541)

That's the most new listings we've seen in a single week since we started tracking! However, there is a bit of a pattern developing....at the end of one month a lot of listings expire, and in the week following I would imagine a lot of those people re-list their homes accounting for the high number of new listings. Overall the net is an increase in inventory of 28 listings.

On a side note, I received a note from the Realtors Association of Edmonton explaining the difference between the daily stats and the monthly stats. Turns out there was a glitch with the computer and it didn't count some of the days in the month - understandable since this was the first month they did it. The good news is they should match up next month (within a small margin of error since the reports are run at different times and the database is dynamic). Awesome!

The board also put out a really interesting stat today comparing inventory to migration in Alberta stating:

In 2006-7 the available inventory dropped to record low levels. Then suddenly in the last part of 2007 it climbed to near record high levels. New figures released by Alberta Finance and Enterprise, Economics and Statistics in March show a startling correlation between Migration to Alberta and the MLS® inventory.

In 2003 and 2004 migration was between 5,000 and 10,000 persons per quarter. Inventory was fairly stable around 4,000 units. In 2005 and 2006 in-migration rose steadily to a high of 31,000 people in the third quarter of 2006. As those people snapped up the available homes, the inventory dropped. Then in-migration slowed again and inventory started to climb. In the second half of 2007 migration dropped back to 2003 levels. The housing market was unable to respond as quickly and housing inventory soared.

The graph shows the correlation very clearly. As migration went up, inventory went down. Then as migration bottomed out, inventory increased. The chart does not explain why migration figures were so erratic but they do show why our inventory was so volatile.


Happy Weekend!

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

New listings: 780 (574, 669, 714)
# Sales: 284 (235, 263, 259)
Ratio: 36% (41%, 39%, 36%)
# Price changes: 550 (450, 465, 411)
# Expired Listings: 408 (83, 152, 137)
# Canceled, withdrawn and terminated listings: 60 (39, 66, 58)
Net loss/gain in listings this week: 28 (217, 188, 260)
Active listings for single family homes: 3694(3649, 3496, 3367)
Active listings for condos: 2692 (2669, 2608, 2541)

That's the most new listings we've seen in a single week since we started tracking! However, there is a bit of a pattern developing....at the end of one month a lot of listings expire, and in the week following I would imagine a lot of those people re-list their homes accounting for the high number of new listings. Overall the net is an increase in inventory of 28 listings.

On a side note, I received a note from the Realtors Association of Edmonton explaining the difference between the daily stats and the monthly stats. Turns out there was a glitch with the computer and it didn't count some of the days in the month - understandable since this was the first month they did it. The good news is they should match up next month (within a small margin of error since the reports are run at different times and the database is dynamic). Awesome!

The board also put out a really interesting stat today comparing inventory to migration in Alberta stating:

In 2006-7 the available inventory dropped to record low levels. Then suddenly in the last part of 2007 it climbed to near record high levels. New figures released by Alberta Finance and Enterprise, Economics and Statistics in March show a startling correlation between Migration to Alberta and the MLS® inventory.

In 2003 and 2004 migration was between 5,000 and 10,000 persons per quarter. Inventory was fairly stable around 4,000 units. In 2005 and 2006 in-migration rose steadily to a high of 31,000 people in the third quarter of 2006. As those people snapped up the available homes, the inventory dropped. Then in-migration slowed again and inventory started to climb. In the second half of 2007 migration dropped back to 2003 levels. The housing market was unable to respond as quickly and housing inventory soared.

The graph shows the correlation very clearly. As migration went up, inventory went down. Then as migration bottomed out, inventory increased. The chart does not explain why migration figures were so erratic but they do show why our inventory was so volatile.


Happy Weekend!

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

New listings: 780 (574, 669, 714)
# Sales: 284 (235, 263, 259)
Ratio: 36% (41%, 39%, 36%)
# Price changes: 550 (450, 465, 411)
# Expired Listings: 408 (83, 152, 137)
# Canceled, withdrawn and terminated listings: 60 (39, 66, 58)
Net loss/gain in listings this week: 28 (217, 188, 260)
Active listings for single family homes: 3694(3649, 3496, 3367)
Active listings for condos: 2692 (2669, 2608, 2541)

That's the most new listings we've seen in a single week since we started tracking! However, there is a bit of a pattern developing....at the end of one month a lot of listings expire, and in the week following I would imagine a lot of those people re-list their homes accounting for the high number of new listings. Overall the net is an increase in inventory of 28 listings.

On a side note, I received a note from the Realtors Association of Edmonton explaining the difference between the daily stats and the monthly stats. Turns out there was a glitch with the computer and it didn't count some of the days in the month - understandable since this was the first month they did it. The good news is they should match up next month (within a small margin of error since the reports are run at different times and the database is dynamic). Awesome!

The board also put out a really interesting stat today comparing inventory to migration in Alberta stating:

In 2006-7 the available inventory dropped to record low levels. Then suddenly in the last part of 2007 it climbed to near record high levels. New figures released by Alberta Finance and Enterprise, Economics and Statistics in March show a startling correlation between Migration to Alberta and the MLS® inventory.

In 2003 and 2004 migration was between 5,000 and 10,000 persons per quarter. Inventory was fairly stable around 4,000 units. In 2005 and 2006 in-migration rose steadily to a high of 31,000 people in the third quarter of 2006. As those people snapped up the available homes, the inventory dropped. Then in-migration slowed again and inventory started to climb. In the second half of 2007 migration dropped back to 2003 levels. The housing market was unable to respond as quickly and housing inventory soared.

The graph shows the correlation very clearly. As migration went up, inventory went down. Then as migration bottomed out, inventory increased. The chart does not explain why migration figures were so erratic but they do show why our inventory was so volatile.


Happy Weekend!

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

New listings: 780 (574, 669, 714)
# Sales: 284 (235, 263, 259)
Ratio: 36% (41%, 39%, 36%)
# Price changes: 550 (450, 465, 411)
# Expired Listings: 408 (83, 152, 137)
# Canceled, withdrawn and terminated listings: 60 (39, 66, 58)
Net loss/gain in listings this week: 28 (217, 188, 260)
Active listings for single family homes: 3694(3649, 3496, 3367)
Active listings for condos: 2692 (2669, 2608, 2541)

That's the most new listings we've seen in a single week since we started tracking! However, there is a bit of a pattern developing....at the end of one month a lot of listings expire, and in the week following I would imagine a lot of those people re-list their homes accounting for the high number of new listings. Overall the net is an increase in inventory of 28 listings.

On a side note, I received a note from the Realtors Association of Edmonton explaining the difference between the daily stats and the monthly stats. Turns out there was a glitch with the computer and it didn't count some of the days in the month - understandable since this was the first month they did it. The good news is they should match up next month (within a small margin of error since the reports are run at different times and the database is dynamic). Awesome!

The board also put out a really interesting stat today comparing inventory to migration in Alberta stating:

In 2006-7 the available inventory dropped to record low levels. Then suddenly in the last part of 2007 it climbed to near record high levels. New figures released by Alberta Finance and Enterprise, Economics and Statistics in March show a startling correlation between Migration to Alberta and the MLS® inventory.

In 2003 and 2004 migration was between 5,000 and 10,000 persons per quarter. Inventory was fairly stable around 4,000 units. In 2005 and 2006 in-migration rose steadily to a high of 31,000 people in the third quarter of 2006. As those people snapped up the available homes, the inventory dropped. Then in-migration slowed again and inventory started to climb. In the second half of 2007 migration dropped back to 2003 levels. The housing market was unable to respond as quickly and housing inventory soared.

The graph shows the correlation very clearly. As migration went up, inventory went down. Then as migration bottomed out, inventory increased. The chart does not explain why migration figures were so erratic but they do show why our inventory was so volatile.


Happy Weekend!

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

New listings: 780 (574, 669, 714)
# Sales: 284 (235, 263, 259)
Ratio: 36% (41%, 39%, 36%)
# Price changes: 550 (450, 465, 411)
# Expired Listings: 408 (83, 152, 137)
# Canceled, withdrawn and terminated listings: 60 (39, 66, 58)
Net loss/gain in listings this week: 28 (217, 188, 260)
Active listings for single family homes: 3694(3649, 3496, 3367)
Active listings for condos: 2692 (2669, 2608, 2541)

That's the most new listings we've seen in a single week since we started tracking! However, there is a bit of a pattern developing....at the end of one month a lot of listings expire, and in the week following I would imagine a lot of those people re-list their homes accounting for the high number of new listings. Overall the net is an increase in inventory of 28 listings.

On a side note, I received a note from the Realtors Association of Edmonton explaining the difference between the daily stats and the monthly stats. Turns out there was a glitch with the computer and it didn't count some of the days in the month - understandable since this was the first month they did it. The good news is they should match up next month (within a small margin of error since the reports are run at different times and the database is dynamic). Awesome!

The board also put out a really interesting stat today comparing inventory to migration in Alberta stating:

In 2006-7 the available inventory dropped to record low levels. Then suddenly in the last part of 2007 it climbed to near record high levels. New figures released by Alberta Finance and Enterprise, Economics and Statistics in March show a startling correlation between Migration to Alberta and the MLS® inventory.

In 2003 and 2004 migration was between 5,000 and 10,000 persons per quarter. Inventory was fairly stable around 4,000 units. In 2005 and 2006 in-migration rose steadily to a high of 31,000 people in the third quarter of 2006. As those people snapped up the available homes, the inventory dropped. Then in-migration slowed again and inventory started to climb. In the second half of 2007 migration dropped back to 2003 levels. The housing market was unable to respond as quickly and housing inventory soared.

The graph shows the correlation very clearly. As migration went up, inventory went down. Then as migration bottomed out, inventory increased. The chart does not explain why migration figures were so erratic but they do show why our inventory was so volatile.


Happy Weekend!

Weekly Update on the Edmonton Real Estate Market

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

New listings: 574 (669, 714,752, 648)
# Sales: 235 (263, 259,275, 275)
Ratio: 41% (39%, 36%, 37%, 42%)
# Price changes: 450 (465, 411, 270, 384)
# Expired Listings: 83, (152, 137, 343, 201)
# Canceled, withdrawn and terminated listings: 39 (66, 58, 45,51)
Net loss/gain in listings this week: 217 (188, 260, 89, 121)
Active listings for single family homes: 3649 (3496, 3367, 3207, 3048)
Active listings for condos: 2969 (2608, 2541, 2446, 2351)

So fewer new listings and sales this week - that's two weeks in a row. Perhaps everyone has March Break on their mind? Or was it the Easter holiday? It's funny, you never know whether a holiday weekend is going to be busy or slow until after the fact. Sometimes people like to use the day off to go house hunting and sometimes they just disappear.

Here's what the week looked like:



Price per square foot rose again for single family this week and remained the same for condos:


*Price/square/foot data taken from Bob Truman's daily stats web site.

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

New listings: 574 (669, 714,752, 648)
# Sales: 235 (263, 259,275, 275)
Ratio: 41% (39%, 36%, 37%, 42%)
# Price changes: 450 (465, 411, 270, 384)
# Expired Listings: 83, (152, 137, 343, 201)
# Canceled, withdrawn and terminated listings: 39 (66, 58, 45,51)
Net loss/gain in listings this week: 217 (188, 260, 89, 121)
Active listings for single family homes: 3649 (3496, 3367, 3207, 3048)
Active listings for condos: 2969 (2608, 2541, 2446, 2351)

So fewer new listings and sales this week - that's two weeks in a row. Perhaps everyone has March Break on their mind? Or was it the Easter holiday? It's funny, you never know whether a holiday weekend is going to be busy or slow until after the fact. Sometimes people like to use the day off to go house hunting and sometimes they just disappear.

Here's what the week looked like:



Price per square foot rose again for single family this week and remained the same for condos:


*Price/square/foot data taken from Bob Truman's daily stats web site.

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

New listings: 574 (669, 714,752, 648)
# Sales: 235 (263, 259,275, 275)
Ratio: 41% (39%, 36%, 37%, 42%)
# Price changes: 450 (465, 411, 270, 384)
# Expired Listings: 83, (152, 137, 343, 201)
# Canceled, withdrawn and terminated listings: 39 (66, 58, 45,51)
Net loss/gain in listings this week: 217 (188, 260, 89, 121)
Active listings for single family homes: 3649 (3496, 3367, 3207, 3048)
Active listings for condos: 2969 (2608, 2541, 2446, 2351)

So fewer new listings and sales this week - that's two weeks in a row. Perhaps everyone has March Break on their mind? Or was it the Easter holiday? It's funny, you never know whether a holiday weekend is going to be busy or slow until after the fact. Sometimes people like to use the day off to go house hunting and sometimes they just disappear.

Here's what the week looked like:



Price per square foot rose again for single family this week and remained the same for condos:


*Price/square/foot data taken from Bob Truman's daily stats web site.

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

New listings: 574 (669, 714,752, 648)
# Sales: 235 (263, 259,275, 275)
Ratio: 41% (39%, 36%, 37%, 42%)
# Price changes: 450 (465, 411, 270, 384)
# Expired Listings: 83, (152, 137, 343, 201)
# Canceled, withdrawn and terminated listings: 39 (66, 58, 45,51)
Net loss/gain in listings this week: 217 (188, 260, 89, 121)
Active listings for single family homes: 3649 (3496, 3367, 3207, 3048)
Active listings for condos: 2969 (2608, 2541, 2446, 2351)

So fewer new listings and sales this week - that's two weeks in a row. Perhaps everyone has March Break on their mind? Or was it the Easter holiday? It's funny, you never know whether a holiday weekend is going to be busy or slow until after the fact. Sometimes people like to use the day off to go house hunting and sometimes they just disappear.

Here's what the week looked like:



Price per square foot rose again for single family this week and remained the same for condos:


*Price/square/foot data taken from Bob Truman's daily stats web site.

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

New listings: 574 (669, 714,752, 648)
# Sales: 235 (263, 259,275, 275)
Ratio: 41% (39%, 36%, 37%, 42%)
# Price changes: 450 (465, 411, 270, 384)
# Expired Listings: 83, (152, 137, 343, 201)
# Canceled, withdrawn and terminated listings: 39 (66, 58, 45,51)
Net loss/gain in listings this week: 217 (188, 260, 89, 121)
Active listings for single family homes: 3649 (3496, 3367, 3207, 3048)
Active listings for condos: 2969 (2608, 2541, 2446, 2351)

So fewer new listings and sales this week - that's two weeks in a row. Perhaps everyone has March Break on their mind? Or was it the Easter holiday? It's funny, you never know whether a holiday weekend is going to be busy or slow until after the fact. Sometimes people like to use the day off to go house hunting and sometimes they just disappear.

Here's what the week looked like:



Price per square foot rose again for single family this week and remained the same for condos:


*Price/square/foot data taken from Bob Truman's daily stats web site.

Weekly Update on the Edmonton Real Estate Market

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

New listings: 669 (714,752, 648)
# Sales: 263 (259,275, 275)
Ratio: 39% (36%, 37%, 42%)
# Price changes: 465 (411, 270, 384)
# Expired Listings: 152 (137, 343, 201)
# Canceled, withdrawn and terminated listings: 66 (58, 45,51)
Net loss/gain in listings this week: 188 (260, 89, 121)
Active listings for single family homes: 3496 (3367, 3207, 3048)
Active listings for condos: 2608 (2541, 2446, 2351)

Inventory continues to creep up and sales continue to lag behind:

At some point we'll run out of homes to list...won't we? j/k... I do think we're at that point in the year where we'll see the largest gains in new listings, and shortly thereafter we should see the largest number of sales for the year. We'll have to wait and see if the sales out pace the new listings, or if the current trend continues.

As for the average price per square foot, things seem to be flattening out:



Note: The data for the price per square foot chart is taken from Bob Trueman's daily stats web site.

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

New listings: 669 (714,752, 648)
# Sales: 263 (259,275, 275)
Ratio: 39% (36%, 37%, 42%)
# Price changes: 465 (411, 270, 384)
# Expired Listings: 152 (137, 343, 201)
# Canceled, withdrawn and terminated listings: 66 (58, 45,51)
Net loss/gain in listings this week: 188 (260, 89, 121)
Active listings for single family homes: 3496 (3367, 3207, 3048)
Active listings for condos: 2608 (2541, 2446, 2351)

Inventory continues to creep up and sales continue to lag behind:

At some point we'll run out of homes to list...won't we? j/k... I do think we're at that point in the year where we'll see the largest gains in new listings, and shortly thereafter we should see the largest number of sales for the year. We'll have to wait and see if the sales out pace the new listings, or if the current trend continues.

As for the average price per square foot, things seem to be flattening out:



Note: The data for the price per square foot chart is taken from Bob Trueman's daily stats web site.

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

New listings: 669 (714,752, 648)
# Sales: 263 (259,275, 275)
Ratio: 39% (36%, 37%, 42%)
# Price changes: 465 (411, 270, 384)
# Expired Listings: 152 (137, 343, 201)
# Canceled, withdrawn and terminated listings: 66 (58, 45,51)
Net loss/gain in listings this week: 188 (260, 89, 121)
Active listings for single family homes: 3496 (3367, 3207, 3048)
Active listings for condos: 2608 (2541, 2446, 2351)

Inventory continues to creep up and sales continue to lag behind:

At some point we'll run out of homes to list...won't we? j/k... I do think we're at that point in the year where we'll see the largest gains in new listings, and shortly thereafter we should see the largest number of sales for the year. We'll have to wait and see if the sales out pace the new listings, or if the current trend continues.

As for the average price per square foot, things seem to be flattening out:



Note: The data for the price per square foot chart is taken from Bob Trueman's daily stats web site.

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

New listings: 669 (714,752, 648)
# Sales: 263 (259,275, 275)
Ratio: 39% (36%, 37%, 42%)
# Price changes: 465 (411, 270, 384)
# Expired Listings: 152 (137, 343, 201)
# Canceled, withdrawn and terminated listings: 66 (58, 45,51)
Net loss/gain in listings this week: 188 (260, 89, 121)
Active listings for single family homes: 3496 (3367, 3207, 3048)
Active listings for condos: 2608 (2541, 2446, 2351)

Inventory continues to creep up and sales continue to lag behind:

At some point we'll run out of homes to list...won't we? j/k... I do think we're at that point in the year where we'll see the largest gains in new listings, and shortly thereafter we should see the largest number of sales for the year. We'll have to wait and see if the sales out pace the new listings, or if the current trend continues.

As for the average price per square foot, things seem to be flattening out:



Note: The data for the price per square foot chart is taken from Bob Trueman's daily stats web site.

Weekly Update on the Edmonton Real Estate Market

Here is our much anticipated weekly update on the Edmonton real estate market. No, there was no conspiracy, there was no censorship, there was nothing to hide, we just figured we'd done enough stats last week. Lesson learned! (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

# New listings: 714 (752, 648, 599, 632)
# Sales: 259 (275, 275, 246, 243)
Ratio: 36% (37%, 42%, 41%, 38%)
# Price changes: 411, (270, 384, 372, 286)
# Expired Listings: 137 (343, 201, 134,109)
# Canceled, withdrawn and terminated listings: 58 (45,51,44,52)
Net loss/gain in listings this week: 260 (89, 121, 175, 228)
Active listings for single family homes: 3367 (3207, 3048, 2971, 2866)*
Active listings for condos: 2541 (2446, 2351, 2301, 2246)*

So to make up for our negligence last week I've done up some lovely new charts! Everyone loves charts! lol....Seriously though, this does put some things in perspective - your suggestions for further analysis will gladly be considered for future updates.

Here's my analysis of what the inventory in Edmonton has been up to:

One thing I notice is the gap between single family and condo inventory has decreased since the fall. What I was interested in when I finally put this chart together though, is what are the trends, and I do see a bit of a problem (aside from the obvious rise in inventory)...

The inventory is increasing at a faster pace than sales. If I ran the trend lines just until the end of the year it would've been a different story. We are at the time of year where listings come on the market, and sales should continue to pick up. So....over the next few weeks we should see the angle of those trend lines moving closer together.

The real story we've been following is the price per square foot....it's been on a pretty steady decline for months. I think we may have hit the bottom:

Time will tell!!!

*Please note, the active listing numbers have been averaged over last week and this week because the update was not done last week and our database doesn't allow me to see active listings in the past.

Here is our much anticipated weekly update on the Edmonton real estate market. No, there was no conspiracy, there was no censorship, there was nothing to hide, we just figured we'd done enough stats last week. Lesson learned! (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

# New listings: 714 (752, 648, 599, 632)
# Sales: 259 (275, 275, 246, 243)
Ratio: 36% (37%, 42%, 41%, 38%)
# Price changes: 411, (270, 384, 372, 286)
# Expired Listings: 137 (343, 201, 134,109)
# Canceled, withdrawn and terminated listings: 58 (45,51,44,52)
Net loss/gain in listings this week: 260 (89, 121, 175, 228)
Active listings for single family homes: 3367 (3207, 3048, 2971, 2866)*
Active listings for condos: 2541 (2446, 2351, 2301, 2246)*

So to make up for our negligence last week I've done up some lovely new charts! Everyone loves charts! lol....Seriously though, this does put some things in perspective - your suggestions for further analysis will gladly be considered for future updates.

Here's my analysis of what the inventory in Edmonton has been up to:

One thing I notice is the gap between single family and condo inventory has decreased since the fall. What I was interested in when I finally put this chart together though, is what are the trends, and I do see a bit of a problem (aside from the obvious rise in inventory)...

The inventory is increasing at a faster pace than sales. If I ran the trend lines just until the end of the year it would've been a different story. We are at the time of year where listings come on the market, and sales should continue to pick up. So....over the next few weeks we should see the angle of those trend lines moving closer together.

The real story we've been following is the price per square foot....it's been on a pretty steady decline for months. I think we may have hit the bottom:

Time will tell!!!

*Please note, the active listing numbers have been averaged over last week and this week because the update was not done last week and our database doesn't allow me to see active listings in the past.

Here is our much anticipated weekly update on the Edmonton real estate market. No, there was no conspiracy, there was no censorship, there was nothing to hide, we just figured we'd done enough stats last week. Lesson learned! (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

# New listings: 714 (752, 648, 599, 632)
# Sales: 259 (275, 275, 246, 243)
Ratio: 36% (37%, 42%, 41%, 38%)
# Price changes: 411, (270, 384, 372, 286)
# Expired Listings: 137 (343, 201, 134,109)
# Canceled, withdrawn and terminated listings: 58 (45,51,44,52)
Net loss/gain in listings this week: 260 (89, 121, 175, 228)
Active listings for single family homes: 3367 (3207, 3048, 2971, 2866)*
Active listings for condos: 2541 (2446, 2351, 2301, 2246)*

So to make up for our negligence last week I've done up some lovely new charts! Everyone loves charts! lol....Seriously though, this does put some things in perspective - your suggestions for further analysis will gladly be considered for future updates.

Here's my analysis of what the inventory in Edmonton has been up to:

One thing I notice is the gap between single family and condo inventory has decreased since the fall. What I was interested in when I finally put this chart together though, is what are the trends, and I do see a bit of a problem (aside from the obvious rise in inventory)...

The inventory is increasing at a faster pace than sales. If I ran the trend lines just until the end of the year it would've been a different story. We are at the time of year where listings come on the market, and sales should continue to pick up. So....over the next few weeks we should see the angle of those trend lines moving closer together.

The real story we've been following is the price per square foot....it's been on a pretty steady decline for months. I think we may have hit the bottom:

Time will tell!!!

*Please note, the active listing numbers have been averaged over last week and this week because the update was not done last week and our database doesn't allow me to see active listings in the past.

Weekly Update on the Edmonton Real Estate Market

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

# New listings: 648 (599, 632)
# Sales: 275 (246, 243)
Ratio: 42% (41%, 38%)
# Price changes: 384 (372, 286)
# Expired Listings: 201 (134,109)
# Canceled, withdrawn and terminated listings: 51 (44,52)
Net loss/gain in listings this week: 121 (175, 228)
Active listings for single family homes: 3048 (2971, 2866)
Active listings for condos: 2351 (2301, 2246)

The slow creep in inventory continues...new home builders seem determined to add to the inventory. CMHC released their monthly report today showing that multi-family units are up 4% over January 2007. At least single family starts are significantly down. Also interesting is the steady sales to new listings ratio, seems about the same as the Oiler's record (except for the past three games! go Oilers!).

Also of interest...TD Canada Trust released a study about female homeowners today. Apparently in Edmonton and Calgary women are more driven to get into the real estate market that in any other major Canadian city. Two thirds (66 per cent) of women in the Alberta cities cite wanting to get into the housing market as a reason for buying their first home, compared with an average 54 per cent of women respondents across Canada, says the Women and Home Ownership Poll. Nationally most women preferred condos, but in Edmonton and Calgary 31% opted for condos, 33% for houses and the rest for townhouses/duplexes etc.

Here is our weekly update on the Edmonton real estate market. (Last week's numbers are in brackets, and the week before after that). For the past 7 days:

# New listings: 648 (599, 632)
# Sales: 275 (246, 243)
Ratio: 42% (41%, 38%)
# Price changes: 384 (372, 286)
# Expired Listings: 201 (134,109)
# Canceled, withdrawn and terminated listings: 51 (44,52)
Net loss/gain in listings this week: 121 (175, 228)
Active listings for single family homes: 3048 (2971, 2866)
Active listings for condos: 2351 (2301, 2246)

The slow creep in inventory continues...new home builders seem determined to add to the inventory. CMHC released their monthly report today showing that multi-family units are up 4% over January 2007. At least single family starts are significantly down. Also interesting is the steady sales to new listings ratio, seems about the same as the Oiler's record (except for the past three games! go Oilers!).

Also of interest...TD Canada Trust released a study about female homeowners today. Apparently in Edmonton and Calgary women are more driven to get into the real estate market that in any other major Canadian city. Two thirds (66 per cent) of women in the Alberta cities cite wanting to get into the housing market as a reason for buying their first home, compared with an average 54 per cent of women respondents across Canada, says the Women and Home Ownership Poll. Nationally most women preferred condos, but in Edmonton and Calgary 31% opted for condos, 33% for houses and the rest for townhouses/duplexes etc.