Weekly Update 2009.1.15

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Edmonton Real Estate Market Weekly Update

Weeklyupdate_2Here is our update on the Edmonton real estate market. (Previous week's numbers are in brackets). For the past 7 days:

- g( v1 ^1 c0 Y* F$ ONew listings: 390 (380, 94, 107)
# Sales: 111 (82, 37, 65)
3 T3 o) m& |  ZRatio: 28% (22%, 39%, 61%)
- C. @# v/ J; Y. }# Price changes: 242 (156, 94, 75)
$ N, |7 x! _7 I" d# Expired Listings: 215 (171,851, 184)
# Canceled/withdrawn/terminated listings: 21 (11, 13, 17)
# y+ w/ h/ ~! r$ oNet loss/gain in listings this week: 43 (116, -807, -159)
! I& A, d* M& cActive listings for single family homes: 2347 (2258, 2722, 2804)
, L& v) \0 _* F8 u0 ]& ZActive listings for condos: 1625 (1554, 1878, 1934)

Last year at this time the sales to new listings ratio was at 30%, so we're not far off last year. I was expecting to see more sales this week, simply because things seem busier out there (more showings, more offers etc). One thing that could be slowing things up a bit are conditions - it is harder to get a mortgage these days, so the condition dates are being written for a longer period of time. Sales are not reported until all conditions are removed so the start to the year could be slower because of longer condition periods.

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