The Gist:

  • April 2020

    • Supply and demand were limited by about 50% over previous years due to concerns over COVID-19. 

  • May 2020

    • Sales

      • We’re starting to see a heartbeat! Since Alberta has been designated to start opening up operations, we’re starting to see the daily sale rate have some highs and lows that resemble normal market activity. 

    • New Listings

      • During shutdown, very few people were bringing properties to the market due to uncertainty. Now with news that Edmonton has remained very low in infections and that we’re getting ready to resume with the new-normal, we’re seeing tons of properties being brought to the market daily. 

      • We’re preparing to see 300+ homes come to the market in a day due to backlog of people who wanted to list their homes but ended up postponing. 

  • Buyers

    • It’s hard to not feel overwhelmed with so many new listings coming to the market. To avoid house fatigue, get your REALTOR® to set you up with pro-searches that notify you on Day 0 when a property matching your criteria comes to the market. 

  • Sellers

    • There’s going to be more competition in the coming weeks and months than there has been in a long time. In order to stay above the noise, make sure your REALTOR® is keeping you informed on market activity and suggesting ways to make your home the best option available. 


Something to Keep in Mind: the data we receive is a reflection of what happened about 2 weeks in the past, meaning that people are putting offers on houses about 10-14 days before the MLS registers the property as sold, and new listings are initiated a week (or more) before they are actually listed on the MLS to have time for photos, videos, measurements, etc.


Want to Know What’s Happening in Your Neighbourhood? 🏘🏡


 
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⬇️ Daily Market Indicators ⬇️

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🎧 HACK&Co Playlist: Price Reduction Remix 🏷

Take a peek at properties that have lowered their prices since Emergency Shutdown 📉