Edmonton Condo Market: Weekly Update - Part 1

November 21, 2008 · Filed Under Edmonton Condo Market, Weekly Condo Stats · 1 Comment 

Over the past few weeks I have been experimenting with different formats to show the weekly condo update. I have three weeks stats now so I will be able to start showing trends. This week I will be publishing the condo update in two posts. Here is part one of this weeks update on the Edmonton condo market (previous week’s numbers are in brackets). For the past seven days:

 

New Listings:

  • Edmonton All Types -  116 (118, 181)
  • Edmonton High Rise - 18 (22, 34)
  • Edmonton Low Rise - 64 (54, 83)
  • Edmonton Townhouse - 34 (43, 64)
  • Surrounding Areas - 24 (26, 30)

Sold Condos # of Units:

  • Edmonton All Types - 50 (42, 44)
  • Edmonton High Rise - 9 (7, 3)
  • Edmonton Low Rise - 25 (25, 25)
  • Edmonton Townhouse - 16 (10, 16)
  • Surrounding Areas - 5 (11, 12)

Sold Condos Avg Selling Price (000’s):

  • Edmonton All Types - 237 (208, 229)
  • Edmonton High Rise - 210 (267, 204)
  • Edmonton Low Rise - 227 (194, 223)
  • Edmonton Townhouse - 268 (205, 241)
  • Surrounding Areas - 229 (259, 245)

Active Condo Listings:

  • Edmonton All Types - 2179 (2217, 2222)
  • Edmonton High Rise - 338 (341, 338)
  • Edmonton Low Rise - 1099 (1125, 1140)
  • Edmonton Townhouse - 742 (751, 744)
  • Surrounding Areas - 385 (386, 426)

 

21-Nov-08 New Listings Sold Ratio Active Listings AVG Sales Price Price / SqFt
 Edmonton 116 50 43.10% 2179 $237,427 $230
  High-Rise 18 9 50.00% 338 $210,444 $252
  Low-Rise 64 25 39.06% 1099 $227,272 $230
  Townhome 34 16 47.06% 742 $268,473 $221
 Surrounding Area 24 5 20.83% 385 $228,962 $209

 

Let me know if you have any requests or feedback!

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Edmonton Condo Market: Weekly Update

November 14, 2008 · Filed Under Edmonton Condo Market, Weekly Condo Stats · Comment 

Those buying a condo in Edmonton this week were frugal with their choices.

The average sales price for condos in Edmonton between November 7 and November 13 was $208,600; down over $21,000 from a week earlier. The average price drop also partly a result of buyers opting for smaller condos as the average square footage was 955 compared to 1016 the week before. The downsizing resulted in a drop to $218/sqft this week, from $226/sqft.

Buyers in surrounding areas (St. Albert, Sherwood Park, Spruce Grove, Stony Plain, Leduc, and Beaumont) were willing to pay more to get the condo they wanted. The average selling price in these areas actually increased from $245k the week before to $259k this past week. The price/sqft for condos surrounding Edmonton this week was $240.

 

14-Nov-08 New Listings Sold Ratio Price Changes Active Listings AVG Sales Price
 Edmonton  118 42 35.60% 133 2217 $208,638
  High-Rise  22 7 31.80% 24 341 $266,857
  Low-Rise  53 25 47.20% 58 1125 $193,956
  Townhome  43 10 23.30% 51 751 $204,590
 Surrounding Area  26 11 42.30% 22 386 $259,364

 

With most of the selling activity in the lower end of the condo market lately it was positive to see two highrise condo sales downtown this week over $300k, which helped to keep the avg. prices for highrises up.

 

14-Nov-08 Sold AVG Sales Price Sold: Avg SqFt Price / SqFt Avg. days on Market AVG Sales Price
 Edmonton  42 $208,638 955 $218 81 $208,638
  High-Rise  7 $266,857 1035 $257 94 $266,857
  Low-Rise  25 $193,956 892 $217 74 $193,956
  Townhome  10 $204,590 1057 $193 91 $204,590
 Surrounding Area  11 $259,364 1080 $240 53 $259,364

 

While selling price/SqFt has dropped for every type of condominium in Edmonton compared to the avg for the past 60 days, the price/SqFt for condominums in the surrounding areas has held steady.

 

 Sold: Past 60 Days    (Sept 15 - Nov 14)  Sold Avg. Sales Price Avg. SqFt Price / SqFt Avg. Days on Market
 Edmonton  625 $249,000 1017 244 63
  High-Rise  84 $294,000 943 311 70
  Low-Rise  310 $231,000 923 250 63
  Townhome  231 $258,000 1171 220 60
 Surrounding Area  101 $282,000 1195 235 66

 

Edmonton Condos Sold Price / ft2 7 days vs. 60 days

 

What are your thoughts on the stronger prices outside of Edmonton?

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Edmonton Condo Market: Weekly Update

November 7, 2008 · Filed Under Edmonton Condo Market, Weekly Condo Stats · 1 Comment 

Condo buyers in the surrounding areas of Edmonton are willing to dig a little deeper in their pockets to get the Condominium they want; at least this past week.

Average sales price of condos in surrounding bedroom communities (St. Albert, Sherwood Park, Fort Saskatchewan, Leduc, Beaumont, Spruce Grove, and Stony Plain) was $245,400 whereas Edmonton proper saw average sales price of $229,800.

 

Here are complete stats for the past 7 days:

   7-Nov-08 New Listings Sold Ratio Price Changes Active Listings AVG Sales Price
 Edmonton  181 44 24.3% 138 2222 $229,745
  High-Rise  34 3 8.8% 18 338 $203,500
  Low-Rise  83 25 30.1% 59 1140 $223,127
  Townhome  64 16 25.0% 60 744 $241,328
 Surrounding Area  30 12 40.0% 27 426 $245,350

 

High-rise condo sales looked dismal, but keep in mind these stats are only for the past week. More background data and charts to come in the days and weeks ahead.  Comments?

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