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Posts Tagged With 'Real Estate'

Edmonton Real Estate Market Weekly Update, July 5/13

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

New Listings: 393 (464, 531, 547)
# Sales: 272 (333, 340, 373)
Ratio: 69% (72%, 64%, 68%)
# Price Changes: 265 (282, 327, 304)
# Expired/Off Market Listings: 311 (130, 131, 121)
Net loss/gain in listings this week: -190 (1, 60, 53)
Active single family home listings: 2801 (2897, 2906, 2889)
Active condo listings: 1944 (2040, 2040, 2030)
Homes 4-week running average: $407k ($412k, $412k, $413k)
Condos 4-week running average: $258k ($253k, $252k, $246k)

New listings really dropped off this week, could be the timing of the long weekend, could be that sellers figured if they didn’t sell by now they might as well wait and try again next year. Luxury condo sales continue….

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Edmonton Real Estate Market Weekly Update, June 21/13

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

New Listings: 531 (547, 606, 505)
# Sales: 340 (373, 337, 316)
Ratio: 64% (68%, 56%, 63%)
# Price Changes: 327 (304, 353, 309)
# Expired/Off Market Listings: 131 (121, 236, 148)
Net loss/gain in listings this week: 60 (53, 33, 41)
Active single family home listings: 2906 (2889, 2839, 2759)
Active condo listings: 2040 (2030, 2011, 2008)
Homes 4-week running average: $412 ($413k, $414k, $413k)
Condos 4-week running average: $252k ($246k, $238k, $238k)

The average price of condos continues to rise. There has been an increase in the number of high end condo sales, which appears to be affecting the overall average.

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Reasons for Caution in Comparing Real Estate Returns with Stocks

In a recent column in The Financial Post, Garry Marr pointed out that even in hottest bull market in real estate, stocks beat homes as an investment:

By the end of last year real estate prices had climbed about 85% over the previous decade, according to the Teranet/National Composite Bank House Price Index.

Stocks? The TSX/Composite Index has had a total return of about 141% during that period or about 9% annually. Go back 20 years and stocks still return more than 9% annually over the period.

One can sympathize with Mr. Marrs intention to provide a counterpoint to the constant rah-rahs from the real estate industry (As a matter of fact, many years back, I wrote a very similar post in response to industry claims that real estate beat stocks here). However, Mr. Marr is incorrect in comparing home prices with stocks.

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Edmonton Real Estate Market Weekly Update, May 10/13

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

New Listings: 568 (551, 481, 563)
# Sales: 305 (300, 334, 302)
Ratio: 54% (54%, 69%, 54%)
# Price Changes: 277 (232, 228, 216)
# Expired/Off Market Listings: 104 (228, 79, 125)
Net loss/gain in listings this week: 159 (23, 68, 136)
Active single family home listings: 2505 (2382, 2346, 2294)
Active condo listings: 1873 (1816, 1822, 1785)
Homes 4-week running average: $411k ($407k, $411k, $412k)
Condos 4-week running average: $239k ($241k, $244k, $239)

There has been a slight uptick in listing activity, but we’re still well below last year’s inventory levels. Builders are getting busy in Edmonton too – according to CMHC housing starts were up significantly in April.

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Edmonton Real Estate Market Weekly Update, March 8/13

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

New Listings: 521 (373, 394, 396)
# Sales: 241 (228, 205, 204)
Ratio: 46% (61%, 52%, 52%)
# Price Changes: 140 (146, 137, 123)
# Expired/Off Market Listings: 188 (191, 109, 87)
Net loss/gain in listings this week: 92 (-46, 80, 105)
Active single family home listings: 1970 (1823, 1820, 1781)
Active condo listings: 1467 (1398, 1439, 1388)
Homes 4-week running average: $393k ($394, $396k, $391k)
Condos 4-week running average: $233k ($229k, $235k, $223k)

There was a big jump in new listings this week, that is only partially accounted for in the re-listing of properties that expired last week. The inventory of both condo and single family homes both jumped, but we are still behind last year’s levels and below average.

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Edmonton Real Estate Market Weekly Update ??? Jan. 25/13

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

New Listings: 309 (384, 296, 144)
# Sales: 188 (194, 119, 81)
Ratio: 61% (51%, 40%, 56%)
# Price Changes: 99 (113, 81, 46)
# Expired/Off Market Listings: 93 (187, 120, 459)
Net loss/gain in listings this week: 28 (3, 57, -396)
Active single family home listings: 1700 (1677, 1632, 1594)
Active condo listings: 1265 (1229, 1227, 1162)
Homes 4-week running average: $379k ($375k, $388k, $402k)
Condos 4-week running average: $212k ($201k, $227k, $226k)

At this time of year, the sales to new listings ratio is normally between 30-40%, and we are currently sitting at 61%. We typically see supply and demand on the rise in the first quarter, and while we are seeing an increase in both supply and demand, supply is not increasing as quickly as demand is.

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