Edmonton Condo Market: Weekly Update

December 12, 2008 · Filed Under Edmonton Condo Market, Weekly Condo Stats · 2 Comments 

Sales were down for most types of Edmonton condos this week. The drop in condo sales was most noticeable for Edmonton townhouses. Although inventory is down (Edmonton low rise condos have dropped below 1000 units) I expect that will increase substantially in January once people have digested their Christmas turkey. Buyers are continuing to have lots of choice with strong negotiating positions.

(Previous week’s numbers are in brackets). For the past 7 days:

 

New Condo Listings:

  • Edmonton All Types -  109 (106, 98, 116)
  • Edmonton High Rise - 17 (19, 21, 18)
  • Edmonton Low Rise - 64 (46, 49, 64)
  • Edmonton Townhouse - 28 (41, 28, 34)
  • Surrounding Areas - 16 (19, 17, 24)

Sold Condos # of Units:

  • Edmonton All Types - 38 (44, 64, 50)
  • Edmonton High Rise - 7 (4, 9, 9)
  • Edmonton Low Rise - 21 (23, 34, 25)
  • Edmonton Townhouse - 10 (17, 21, 16)
  • Surrounding Areas - 5 (7, 10, 5)

Sold Condos Avg Selling Price (000’s):

  • Edmonton All Types - 236 (227, 231, 237)
  • Edmonton High Rise - 230 (253, 249, 210)
  • Edmonton Low Rise - 233 (243, 211, 227)
  • Edmonton Townhouse - 249 (206, 254, 268)
  • Surrounding Areas - 262 (235, 251, 229)

Active Condo Listings:

  • Edmonton All Types - 1977 (1987, 2156, 2179)
  • Edmonton High Rise - 330 (322, 343, 338)
  • Edmonton Low Rise - 988 (1001, 1083, 1099)
  • Edmonton Townhouse - 655 (664, 730, 742)
  • Surrounding Areas - 348 (347, 391, 385)

 

Price per square foot for the past week reversed its declining trend and was up overall for condos in Edmonton, and was up fagain for Edmonton low rise condos. There was a noticeable drop in the price per sqft for condos in places like St. Albert and Shewood Park. Below is a comparison of the Avg $ / Sqft: 60 days vs. the past 7 days.

 

December 12 Avg Selling PRice per Sqft

December 12 Avg Selling PRice per Sqft

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Edmonton Condo Market: Weekly Update

December 5, 2008 · Filed Under Edmonton Condo Market, Weekly Condo Stats · 1 Comment 

Not a steller performance for the Edmonton condo market this week. Continued economic uncertainty, mixed with some political instability poured on top of what’s typical for the time of year and you end up with lacklustre condo sales.

Condo sales were down for Edmonton highrise, lowrise, and townhouses. Average price was also down. The bright spot was the drop in inventory of condos in Edmonton and the surrounding areas.  

(Previous week’s numbers are in brackets). For the past 7 days:

 

New Condo Listings:

  • Edmonton All Types -  106 (98, 116, 118)
  • Edmonton High Rise - 19 (21, 18, 22)
  • Edmonton Low Rise - 46 (49, 64, 54)
  • Edmonton Townhouse - 41 (28, 34, 43)
  • Surrounding Areas - 19 (17, 24, 26)

Sold Condos # of Units:

  • Edmonton All Types - 44 (64, 50, 42)
  • Edmonton High Rise - 4 (9, 9, 7)
  • Edmonton Low Rise - 23 (34, 25, 25)
  • Edmonton Townhouse - 17 (21, 16, 10)
  • Surrounding Areas - 7 (10, 5, 11)

Sold Condos Avg Selling Price (000’s):

  • Edmonton All Types - 227 (231, 237, 208)
  • Edmonton High Rise - 253 (249, 210, 267)
  • Edmonton Low Rise - 243 (211, 227, 194)
  • Edmonton Townhouse - 206 (254, 268, 205)
  • Surrounding Areas - 235 (251, 229, 259)

Active Condo Listings:

  • Edmonton All Types - 1987 (2156, 2179, 2217)
  • Edmonton High Rise - 322 (343, 338, 341)
  • Edmonton Low Rise - 1001 (1083, 1099, 1125)
  • Edmonton Townhouse - 664 (730, 742, 751)
  • Surrounding Areas - 347 (391, 385, 386)

 

Price per square foot for the past week continues to decline, down another $2 / sqft, although it was up for Edmonton low rise condos.  Below is a comparison of the Avg $ / Sqft: 60 days vs. the past 7 days.

 

 

 

 

 

 

 

 

 

 

 

 

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Edmonton Condo Market: Weekly Update

November 28, 2008 · Filed Under Edmonton Condo Market, Weekly Condo Stats · 1 Comment 

This week new condo listings are down again which is to be expected considering the time of year, and condo sales saw a respectable uptick of 14 units over last week (64 compared to 50 last week).

The average selling price for the overall condo market was down, including Edmonton townhouses and low rise condos, but actually rose in the surrounding areas, and for high rises in Edmonton. Inventory is declining very slowly with a drop of 23 units over last week. (Previous week’s numbers are in brackets). For the past 7 days:

 

New Condo Listings:

  • Edmonton All Types -  98 (116, 118, 181)
  • Edmonton High Rise - 21 (18, 22, 34)
  • Edmonton Low Rise - 49 (64, 54, 83)
  • Edmonton Townhouse - 28 (34, 43, 64)
  • Surrounding Areas - 17 (24, 26, 30)

Sold Condos # of Units:

  • Edmonton All Types - 64 (50, 42, 44)
  • Edmonton High Rise - 9 ( 9, 7, 3)
  • Edmonton Low Rise - 34 (25, 25, 25)
  • Edmonton Townhouse - 21 (16, 10, 16)
  • Surrounding Areas - 10 (5, 11, 12)

Sold Condos Avg Selling Price (000’s):

  • Edmonton All Types - 231 (237, 208, 229)
  • Edmonton High Rise - 249 (210, 267, 204)
  • Edmonton Low Rise - 211 (227, 194, 223)
  • Edmonton Townhouse - 254 (268, 205, 241)
  • Surrounding Areas - 251 (229, 259, 245)

Active Condo Listings:

  • Edmonton All Types - 2156 (2179, 2217, 2222)
  • Edmonton High Rise - 343 (338, 341, 338)
  • Edmonton Low Rise - 1083 (1099, 1125, 1140)
  • Edmonton Townhouse - 730 (742, 751, 744)
  • Surrounding Areas - 391 (385, 386, 426)

 

Price per square foot for the past week continues to decline, down another $1 / sqft which doesn’t sound like much but is a decline of over $4000 per month on a 1000 sqft condo. Below is a comparison of the Avg $ / Sqft: 60 days vs. the past 7 days.

 

Edmonton Condo Market Avg Price per Square Foot

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Edmonton Condo Market: Weekly Update - Part 2

November 24, 2008 · Filed Under Edmonton Condo Market, Weekly Condo Stats · Comment 

Judging from condo sales this past week it appears that the market held fairly steady in Edmonton but not so well in the surrounding areas of St. Albert, Spruce Grove, Stony Plain, Leduc, Beaumont, and Sherwood Park. Sales in Edmonton were up 19% over the week before (50 vs. 42), while the surrounding communities saw less than half the number of sales from the previous week.

After collecting data on Edmonton condo sales in the past 60 days (Sep 22 - Nov 20) we can see that the overall sold price / sq ft in seems to have stabilized somewhat - the noticeable exception being the price of Edmonton high rise condos.

Edmonton Condos Price / Sqft - Nov 21

Below is the complete Edmonton condo sales stats from September 22 to November 20.

Sold Past 60 Days (Sept 22 - Nov 20) Sold Avg. Sales Price Avg. SqFt Price / SqFt Avg. Days on Market
Edmonton 578 $238,353 1018 234 64
High-Rise 75 $276,286 939 294 71
Low-Rise 292 $219,331 925 237 65
Townhome 211 $249,842 1176 212 61
Surrounding Area 87 $266,313 1201 221 65

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