We started seeing more homes being listed this month, but sales have increased even more. Over the past two days, 13% of SFH have sold for list price or higher.
Compared to the 3-year average,
- Sales are up 29%
- New listings are down 3%
- 30-day median price is up $17,000(+4.2%)
- Inventory is down 19%
Bob, I’m in Edmonton. Our average price is $393K whereas Calgary is $485K. We’re not seeing the same market conditions in Edmonton as Calgary however it seems like Edmonton seems to lag Calgary. Can you explain why such a huge difference and whether Calgary is overheated or Edmonton is expected to catch up?
I don’t know the Edmonton market, so I can’t give an informed answer. Maybe some other readers can. -Bob
Bob what is the absorption rate like in April with this activity
It’s 2.3 today. I update it every day on this page http://www.bobtruman.com/SFH_DailyMonthly_Summaries/page_1869385.html
Just when you think you’re making headway…
If you are a buyer in this market, it was great to see that that new listings were up 13% over the past 7 days(compared to last year). That is, until you see that sales over the past week were up a phenomenal 50%.
It only gets worse…
Yesterday, 21% of SFH were sold for list price or higher.
With market conditions so favourable to sellers, you’d think the infamous “shadow” inventory would start to surface. Maybe it never really existed?
Squidly77 now disables comments to his blog. He seems to be in a repentant mode lately; He knows that this is end for him and this is why I, for one, wish to thank you Bob.
I had to edit your comment. The post you’re referring to on his blog has already been deleted, but I have a hard copy and will use it as evidence.
The lawsuit is proceeding well. -Bob