Edmonton Monthly MLS® Report October 2007

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http://www.ereb.com/marketactivity/October2007.html

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For release:        November 5, 2007         
. W1 ?3 a# l4 e1 g) yContact:        Carolyn Pratt, REALTOR®, 2007 President        Bus: (780) 455-4181
% Z, T2 k% S0 g" Q& P. J3 T# r         Ron Hutchinson, C.A.E., Executive V.P.        Bus: (780) 453-9340
; m' D: s; G7 c5 x6 M         Jon Hall, C.A.E., Manager Communications        Bus: (780) 453-9323
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+ D9 A, f0 K. L% Z% d; L        14220 - 112 Avenue
Edmonton, Alberta
/ j' {1 N9 F. ?* e0 K1 HCanada  T5M 2T8
. H6 l9 z! ~/ u; ^( h% z, RBus: (780) 451-6666
Fax: (780) 452-1135

1 x" H/ Q, M  m5 k1 p! q5 ~" WResale housing market maintains stability
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# V" _; j. a0 c0 e, F- wEdmonton, November 5, 2007: Edmonton’s housing market maintained stable through October with small changes in average prices for most types of residential property. Multiple Listing Service® inventory dropped slightly to 9,577 residential properties available on October 31.
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“REALTORS® report that sales activity was very slow at the beginning of October,” said Carolyn Pratt, President of the REALTORS® Association. “But activity picked up as the month progressed and the current market reality came clear to both buyers and sellers.” After single family dwelling prices peaked in May, many consumers waited for the direction of the market to become clear before committing to a home purchase. “Sellers, eager to market their house before prices dropped too far, listed their homes with high expectation,” said Pratt. “Buyers, on the other hand, took their time selecting a property to purchase in the hopes that prices would drop further.”

Single family dwellings listed on the Multiple Listing Service® sold on average* for $397,198 in the Edmonton area in October. This is down just 0.6% from last month. Condominiums on MLS® sold on average for $262,875 (down 2.9%) and duplex/rowhouses were up 18.7% and sold for $367,964 on average (just 55 units sold). Increased duplex/rowhouse sales drove the average residential sales price (which includes all types of residential property) up 1% from last month at $347,668.
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: H# }2 s9 H3 ^6 Y: K% {Buyers had plenty of choice in October. New listings were down 5.25% from last month with 3,745 residential properties, and higher residential sales of 1,276 (up 22.5% from September), lowered the MLS® inventory slightly to 9,577 in the Edmonton area. Twenty-six (26) percent of the available single family homes were vacant and an additional 9.3 percent were new homes which have never been occupied. There were 970 vacant condominiums (30% of total condos available) plus 185 (5.7%) new condos being offered by REALTOR® clients.
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“An empty property often indicates that the seller is motivated to sell," said Pratt. "The owner may have moved into a newer home and is carrying two mortgages or may not be able to find a tenant at rental rates required to cover the higher purchase price.” She also advised that an owner may not be in a rush to sell a second, vacant home if it was mortgage free.

The average days on market was up one to 44 days. Sales-to-listing ratio was higher than September at 34% and total residential volume for October was $443 million; down 15.2% from the same month last year. Total MLS® sales for the year to date was still at a record level of $7.4 billion because of strong sales in the first half of the year.
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* Average prices indicate market trends only. They do not reflect actual prices, which vary from house to house and area to area. For information on a specific area, contact your local REALTOR®.

9 M( W/ `# _5 ]7 _  @The REALTORS® Association of Edmonton (Edmonton Real Estate Board), founded in 1927, is a professional association of 3,221 Brokers and Associates in the greater Edmonton area. The Board administers the Multiple Listing Service®, provides professional education to its members and enforces a strict Code of Ethics and Standards of Business Practice. The EREB also advertises property listings and publishes consumer information on the Internet at www.mls.ca and www.ereb.com, as well as in the Real Estate Weekly and on their web site at www.rewedmonton.ca. The EREB supports charities involving shelter and homeless through the Edmonton Realtors’ Charitable Foundation (ERCF).
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Highlights of MLS® activityOctober 2007 activity         Record for
the month*        % change from
October 2006
1 l5 k6 s8 v4 C. k, vTotal MLS® sales this month        1,451        -32.30%
Value of total MLS® sales – month        $534 million        -13.40%
. z1 B8 t8 r( e' }Value of total MLS® sales – year        $7.4 billion*        30.80%
Residential¹ sales this month        1,276        -32.50%
Residential average price        $347,668*        25.70%
SFD² average selling price – month        $397,189*        21.70%
. c* _) Y2 O) T8 l( qSFD median³ selling price        $377,500*        19.80%
( M  x# P' I! dCondo average selling price        $262,875*        25.80%
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* F7 B( T1 B/ |  E¹. Residential includes SFD, condos and duplex/row houses.
$ y2 N% J( o" O9 V5 W% Z². Single Family Dwelling
1 v- K/ r, Z* O+ }- l³. The middle figure in a list of all sales prices

: x8 c+ ?6 e$ Z: h' g; w% z1 BFor more information contact:
8 Y  U$ o/ X' j3 u4 G# jJon Hall, Marketing and Communications Manager
* Y2 N: u% @# N/ W6 PBus: (780) 453-9323
Fax: (780) 452-1135
/ \5 b0 x+ ^, t* r1 @# R+ I5 SE-mail: query@ereb.com

人生几何

single house and condo are down!! good sign.

紫光

提醒有能力而观望的朋友：
3 }/ F# B. F! @' R* v如果存货再降3000到6000套左右，可以挑挑拣拣、讨价还价的余地就不会很大了。

微笑

YOKO

-G-

原帖由 紫光 于 2007-11-5 15:31 发表
提醒有能力而观望的朋友：
如果存货再降3000到6000套左右，可以挑挑拣拣、讨价还价的余地就不会很大了。

你少说了一位数，应该是“如果存货再降30000到60000套左右，可以挑挑拣拣、讨价还价的余地就更很大了”

YOKO

It is doesn't make any sense though!

冬日繁星

duplex/rowhouses were up 18.7%
: M; p" C( f7 `8 t2 plowered the MLS® inventory slightly to 9,577 in the Edmonton area.
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“应该是“如果存货再降30000到60000套左右，可以挑挑拣拣、讨价还价的余地就更很大了””-------总共现在的库存只有9577，不知道这个30000到60000的数字从哪儿来的？

QWE321

what does the "median price " mean from the report?
; A- ^0 g+ U6 JSW Zone 14,15,16,55,56,57 Avg 557 and Med 451
How they can have more than 10,000 different?

水管工

原帖由 QWE321 于 2007-11-6 09:20 发表
what does the "median price " mean from the report?
+ [3 g' b& A1 p& JSW Zone 14,15,16,55,56,57 Avg 557 and Med 451
How they can have more than 10,000 different?

It means that half of houses sold are above that price and half are below that price.

QWE321

原帖由 水管工 于 2007-11-6 09:39 发表
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! c6 p# s/ G  Z" z5 i% j7 {. W9 dIt means that half of houses sold are above that price and half are below that price.

that is what i thought, but it doesn't mean anything for me.