Weekly Market Update - April 9, 2018

Thinking about buying or selling a home?  If so, you will want to learn as much as you can about your local market, so that you can make informed decisions and predictions which can affect your transaction.  To help you, I have created this weekly report of the residential market for Grande Prairie and surrounding areas, which will provide you with important information to keep you updated and informed on current market conditions.  Please contact me should you require any further information or help with your real estate transaction as I would love to be of assistance!

RESIDENTIAL MARKET ACTIVITY –  April 2-8, 2018

Market Stats for last 7 days (previous week stats in brackets)

All Residential Listings in Grande Prairie & Surrounding Areas

NEW LISTINGS:

138

(93, 89, 93)

BACK ON MARKET:

3

(4, 9, 6)

LIST PRICE REDUCED:

52

(43, 38, 32)

SOLD:

50

(66, 63, 52)

EXPIRED/CANCELLED:

75

(61, 25, 44)

CONDITIONAL

46

(40, 58, 50)

RATIO OF SALES TO NEW LISTINGS:

36%

(71%, 71%, 56%)

 

All Residential Listings Sold in Grande Prairie & Surrounding Areas

AVERAGE LIST PRICE:

$328,290

($340,076, $281,762, $280,025)

AVERAGE SELL PRICE:

$318,811

($331,383, $274,755, $270,722)

AVERAGE DAYS ON MARKET:

81

(61, 72, 62)

Single Family Dwellings (houses only) in City of Grande Prairie Only

NEW LISTINGS:

49

(28, 22, 23)

SOLD:

25

(37, 21, 21)

AVERAGE LIST PRICE:

$337,772

($350,262, $325,100, $323,995)

AVERAGE SELL PRICE:

$332,707

($343,680, $318,129, $317,726)

AVERAGE DAYS ON MARKET:

(45)

(52, 49, 65)

ECONOMY SNAPSHOT

CAODC Weekly Rig Count

ALBERTA

DRILLING

DOWN

TOTAL

UTILIZATION

APRIL 2/18

101

321

422

24%

MAR 26/18

106

316

422

25%

Mar 19/18

143

279

422

34%

MAR 12/18

188

234

422

45%

MAR 5/18

212

210

422

50%

FEB 26/18

229

194

424

54%

FEB 19/18

225

199

424

53%

FEB 12/18

232

192

424

55%

FEB 5/18

217

205

422

51%

 

Grande Prairie Unemployment Rate

DECEMBER

NOVEMBER

OCTOBER

SEPTEMBER

AUGUST

JULY

6.0%

5.6%

5.8%

5.8%

6.0%

5.8%

 

Building Permits Issued 2017

MONTH

#PERMITS

CONSTRUCTION VALUE

DECEMBER

153

$1,783,784

NOVEMBER

233

$9,910,252

OCTOBER

324

$7,460,259

SEPTEMBER

288

$8,652,756

Lisa Bancesco is a dedicated Realtor® who closely monitors the Grande Prairie and Area market to track changes and watch trends so that she can help her clients make informed decisions when buying or selling their home.  If you want to learn more about how local market statistics can affect your buying and selling decisions, call Lisa anytime on 780-882-3000 or email alisa.bancesco@century21.com for expert advice!

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Sources:

Grande Prairie & Area Association of Realtors

City of Grande Prairie Economic Development

Canadian Association of Oilwell Drilling Contractors

Lisa Bancesco

Lisa Bancesco

CENTURY 21 Grande Prairie Realty Inc.
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