Great news to all Edmontonians who wish to buy a home in Beaumont! This 3 bedrooms, 2.5 baths home is now on the market for only $515,000.
With its huge living space, 1,914 sq ft in total, this home will not disappoint. Take a quick tour at this incredible home and find our for yourself what we mean.
You can find the complete details of the home here: Beaumont
Here are the Walker Real Estate Stats for Walker Single Family homes in the past 30 days.
As of today there are 34 single family homes for sale
In the past 30 days there were 5 single family homes sold.
That would give us a listings to sales ration of 6.8:1 significantly higher than the 4:1 ration we need for a balance market. This would indicated that there is going to be continued downward pressure on house valuation.
So for now expect house values to be dropping in the Walker area.
Edmonton, April 2, 2014: The REALTORS® Association of Edmonton reports that the housing market in the Edmonton Census Metropolitan Area (CMA)1 is poised for a very active spring sales period. Sales of all types of residential properties in the first quarter in the Edmonton CMA were up 5.8% as compared to the same period in 2013. Single family detached (SFD) sales were up 5.1% while condo sales rose a staggering 11.0% in the first quarter.
“We expect that sales will increase from month-to-month as we approach the second quarter,” said President Greg Steele. “But this year-over-year increase is an indicator of the high demand for housing in this market. Price rises will follow the demand and we can expect active competition for desirable properties.”
There were 3,679 all-residential sales from January to March 2014 compared to 3,478 sales in 2013. SFD sales rose from 2,099 to 2,206 while condo sales in the first quarter jumped from 996 to 1,106. Listings also rose to fill the demand. There were 6,324 residential properties listed so far this year compared to 6,086 last year; an increase of 3.9%. Listings of SFDs rose 5.5% Y/Y while condo listings dipped by half of one percent. The overall sales-to-listing ratio in the first quarter was 58% compared to 57% last year.
Despite the increase in Y/Y listings the available inventory at the end of March was down 6.9% at 4,413 residential properties as compared to March 2013. The turn-around time on sales reflected the busy marketplace with average days-on-market in March at 44 days; down from 51 in March 2013.
“Strong sales indicate consumer confidence in the Edmonton marketplace,” said Steele. “The high condo sales and low condo listings indicate the demand for lower priced properties and first time buyers are choosing condos as an option to lower-priced SFDs which are in high demand and short supply.” He pointed out that REALTOR® figures do not include the sale of many new homes and condos which are sold directly by builders and not through the Multiple Listing Service® (MLS®).
Overall, month-over-month average sale prices were stable. The all-residential price moved down less than half of one percent from $363,281 to $361,870. SFD average prices were also down fractionally from $433,205 to $432,458 and condos saw price increases of 3.6% from $238,376 to $247,005 on average. Duplex/row house prices were down from $338,024 in February to $331,038 in March.
REALTORS® have two days to report the sale of a property and end-of-month sales figures may not include sales in the month which were not yet reported. As a result the sales figures are adjusted to account for the late reported sales. There were 1,678 adjusted sales (1,554 reported) of residential properties in March compared to 1,224 (actual) sales in February. This is an increase in activity of 37%. Single family sales are adjusted to 990 (917 reported) and adjusted condo sales were 512 (474 reported).
Total residential sales volume for the first quarter of 2014 is $1,322,289,827. Total sales through the MLS® (including rural and commercials sales) were $1.7 billion so far this year compared to $1.6 billion in 2013.
Source: Realtors Association of Edmonton
I’m excited about some news and I wanted to share it with you! For those who own a home already or looking to buy soon, I’m happy to say Alberta and Edmonton is heading for another boom.
If you are THINKING about buying a home or rental property… NOW is the time. I don’t need a crystal ball to know what’s brewing. Just take a look around and read the news articles. If you don’t trust the columnists/reporters just visit the Alberta Treasury Board and Finance website. A heading for their article is “ Alberta’s economy enters 2014 firing on all cylinder.” What does this all boil down to? Well, the components to create a perfect storm are aligning and the end result will be a new boom in Alberta! Here are the components we are experiencing:
1) The dollar is devalued… This means oil is produced in Alberta and paid with Canadian dollars. When sold in the higher U.S. dollars, this is a hike in profit for the oil producers.
2) Job growth and full employment. Developers out east are viewing Alberta as favorable place to set up shop. We have projects that are delayed simply due to lack of qualified workers. So, not only will Alberta attract people from outside of province, but also out of country.
3) Net migration into Alberta last year is 43,000 according to Robert Kalcic, Senior Economist with BMO Capital Market. This year that number will be higher.
4) Low volume of homes sales. Many, we see now have multiple offers.
5) Close to all time historic low interests
So, let’s add all of that up: low volume of homes, high demand = higher prices or higher rents…The Perfect Storm. So, if you missed the boat, or were too young during the last boom you may want to act now. Dorothy, hold onto your slippers we’re in for a ride!
What an exciting time to be in Alberta! Give me a call to discuss your financing options.
Here are links to the news articles and data that I’ve extracted my information from:
http://www2.canada.com/edmontonjournal/news/business/story.html?id=ab10cab1-c242-44f4-99db-bf23a39ac9c4
http://www.edmontonsun.com/2014/03/14/hicks-on-biz-a-boom-is-happening
http://www.theglobeandmail.com/report-on-business/economy/housing/alberta-housing-market-set-to-
surge-bmo/article17493280/
http://globalnews.ca/news/1220698/migration-to-alberta-is-exploding/
http://www.finance.alberta.ca/aboutalberta/economic-trends/current-economic-trends.pdf
Written by Chita Metcalf – Contact her today to get yourself pre-approved for a new mortgage.
The Mortgage Group
Phone: 780-932-2225
Website: www.EdmontonMortgageSource.com
To View & Search All MLS Listed Houses for Sale Visit Us At:
www.EdmontonHomesforSale.biz
Team Leading Edge
Direct: 780-634-8151
Office: 780-406-4000
The residential home inventory on the Edmonton Multiple Listing Service® (MLS® System) rose 16% in January. Typically just over 1,800 homes in the Edmonton CMA (census metropolitan area) come onto the market in January. Last month’s listings of 1,842 were higher than the 783 listed in December. Sales figures (adjusted) of 885 properties (820 reported) were higher than a typical January and higher than sales in December and January 2013. The increased inventory of 3,537 (up from 3,049 in December), kept prices stable in all housing categories.
Compared to December, the all-residential average3 price of $347,847 was down just $1,226 or
-0.16%. Single family detached (SFD) home prices were down 1.5% at $416,344. Condominiums were priced on average3 at $230,463 (down 1.5%) and duplex/rowhouses showed the biggest movement and were down 5.3% at $336,220.
“Price stability and more property available for sale results in a balanced market,” said REALTORS® Association of Edmonton, President Greg Steele. “Right now both buyers and sellers have time to consider all their options and housing needs. More homes are listed every day and your REALTOR® can advise you of a suitable property as soon as it comes available.”
The residential sales-to-listing ratio was 45% and the average days-on-market was 61 days in January compared to 73 days in January 2013. There have been four property sales over a $1 million already this year but half of the SFDs sold in January were sold at or below the median price of $385,000.
“Strong economic indicators such as low unemployment, higher hourly wages and positive in-migration all support an optimistic view of the Edmonton and area housing market,” said Steele. “Consumers are confident in their economic future and prepared to risk a first-time or move-up purchase. Low rental vacancies and the potential for higher rental rates are also attracting investors into the market.”
There are 3,200 REALTOR® members of the REALTORS® Association of Edmonton. Consumers can view all the properties listed on the Edmonton MLS® System at www.EdmontonHomesForSale.biz and review advertised properties in the Real Estate Weekly.
To View & Search All MLS Listed Houses for Sale Visit Us At:
www.EdmontonHomesforSale.biz
Team Leading Edge
RE/MAX ELITE
Direct: 780-634-8151
Office: 780-406-4000
Canadian home prices ticked back up to a record high in December, thanks entirely to Edmonton, Vancouver and Toronto, according to the Teranet-National Bank house price index.
The 0.1-per-cent rise in home prices in December reversed a 0.1-per-cent decline in November, and returned the index to its all-time high.
But the majority of the 11 cities that the index tracks have seen prices edge down in recent months. Winnipeg, Calgary, Ottawa-Gatineau, Quebec City, Montreal, Hamilton, Halifax and Vancouver each saw prices decrease from November to December.
December was the sixth month in a row that Montreal failed to see a price increase, and the fifth month in a row in Quebec City, National Bank of Canada economist Marc Pinsonneault said in a research note. Ottawa-Gatineau has seen prices fall for four months in a row and Victoria for three, he added.
But Vancouver, the city that saw the steepest market correction in the past two years, saw its prices rebound to a new high. Toronto’s prices rose 0.4 per cent from November, the first time they’ve risen in four months, and are now almost back up to the peak that they reached last August. Edmonton posted its first price increase in five months, up 0.6 per cent.
All told, national home prices were 3.8 per cent higher in December than they had been a year earlier. That’s an acceleration from the 3.4 per cent year-over-year increase in November, and is stronger than the 3.1 per cent increase in prices during 2012.
But Mr. Pinsonneault notes that the improvement from 2012 comes solely from Calgary, Vancouver and Toronto. Excluding those three cities, last year’s price increase would have been 1.2 per cent.
Given that higher mortgage rates are eroding housing affordability, Mr. Pinsonneault is predicting that house price increases will barely cover CPI inflation during 2014, about 1.5 per cent.
Calgary has seen its prices rise 6.5 per cent in the past year according to this index, Toronto 4.9 per cent, Vancouver 5.5 per cent and Winnipeg 3.4 per cent. The only city that has seen a price decrease over the past year is Victoria, where prices have dropped by four per cent. But a number of cities, namely Quebec, Ottawa, Montreal and Halifax, saw prices tick up just a bit.
Many economists say they are surprised by how well Canadian home prices have held up in the wake of the market downturn that impacted much of the country from the summer of 2012 until this past spring. Prices tend to lag sales, and economists expected the slump to translate into more downwards pressure on prices.
“Prices have been much stronger than we anticipated them to be,” Toronto-Dominion Bank real estate economist Diana Petramala said earlier this month.
The Canadian Real Estate Association, which represents the bulk of real estate agents in Canada, will release December’s average prices as well as its latest home price index numbers Wednesday (averages tend to be skewed by changes in the size or types or locations of homes that are selling).
But the Calgary Real Estate Board recently said that the benchmark price of a single family home in the Calgary area has risen to $472,200, up 8.6 per cent from December of 2012.
The benchmark in Vancouver is $603,400, up 2.1 per cent from a year earlier.
The average price of homes that sold over the Multiple Listing Service in the Toronto area during December was $520,398, up by 8.9 per cent from the average selling price in December, 2012. And the average selling price in Toronto for all of 2013 was $523,036, up 5.2 per cent from the average in 2012.
Source: www.TheGlobeAndMail.com
Repeated warnings of an overheated market failed to deter home buyers in Canada’s largest cities in 2013, with the number of Toronto home sales up two per cent over the previous year, Vancouver sales were up 14 per cent and Calgary sales rose 11 per cent.
Homes in the Greater Toronto Area continued their robust rise in price, up 5.2 per cent to an average price of $523,036 in December, compared to $497,130 in 2012, the Toronto Real Estate Board reports.
After a slow start to 2013, GTA housing sales picked up in the second half of the year. Total sales for 2013 were 87,111, compared to 85,496 transactions in 2012.
Even the condo market showed gains, with the average price in Toronto rising 7.6 per cent to $367,376 compared to December 2012, while detached homes prices rose by nearly 19 per cent to $864,351.
Although December sales tend to be slow, new listings were down almost four per cent in December, which helped fuel frantic bidding wars in some Toronto neighbourhoods close to the downtown and transit lines.
For Metro Vancouver, total sales of detached, attached and apartment properties in 2013 reached 28,524, a 14 per cent increase from the 25,032 sales recorded in 2012.
But the number of residential properties listed for sale on the MLS declined 6.2 per cent in 2013 to 54,742, part of a trend in major cities as baby boomers hold onto their properties.
The average house price in the Greater Vancouver area was $603,400.
The price of a detached single family home rose 2.5 per cent to $927,000, while condo prices were up 1.8 per cent for the year to $367,800.
“It was a year of stability for the Greater Vancouver housing market,” said Sandra Wyant, Real Estate Board of Greater Vancouver president. “Balanced conditions allowed home prices in the region to remain steady, with just a modest increase over the last 12 months.”
In Calgary, 16,302 single family homes changed hands, an eight per cent increase, and 4,007 condos were sold, a 14 per cent rise.
The benchmark price for a single-family home was $472,200 in December, an 8.6 per cent increase from the previous year.
“Two consecutive years of elevated levels of net migration, combined with an improving job outlook and confidence surrounding long-term economic prospects, supported the demand growth,” said Ann-Marie Lurie, chief economist for the Calgary Real Estate Board.
How strong the housing market remains in 2014 depends on interest rates.
Finance Minister Jim Flaherty warned in an interview Sunday that Canada will face global pressure to raise rates in 2014 as the U.S. Federal Reserve pulls back on its stimulus efforts and the U.S. economy rebounds.
The Toronto Real Estate Board predicts price growth will continue to exceed inflation in 2014, largely because demand for low-rise houses continues to far outstrip supply.
“The seller’s market conditions that drove price growth in the second half of 2013 will remain in place in many parts of the GTA,” said TREB senior manager of market analysis Jason Mercer.
“Some neighbourhoods, especially those characterized by low-rise house types like singles, semis and townhomes, will continue to have less than two months of inventory.”
In Calgary, both prices and numbers of sales are expected to rise in 2014, the Calgary real estate board said, but the increases are not likely to be as steep as in 2013.
Source: www.CBC/news.ca
Canadians continued to snap up housing in August, with home sales up 2.8 per cent from July and up 11.1 per cent from the previous year.
The Canadian Real Estate Association says the recent rise in mortgage rates caused people who already had mortgage approvals from their lenders to move their decisions forward.
Mortgage rates rose 0.2 percentage points the week of August 22, but many prospective buyers locked in rates with their banks, and the impact of higher rates is not expected to be felt until later in the fall.
The August numbers also seem high by comparison with a year ago because sales activity had dropped sharply last summer after Ottawa tightened mortgage rules.
That tightening dampened enthusiasm to buy homes last fall, but by the spring, Canadians were again shopping for housing.
Sales rose sharply in most major cities and especially Vancouver Island, Victoria, Greater Vancouver, the Fraser Valley, Calgary, Edmonton and Greater Toronto.
The average price of a home was up 8.1 per cent at $378,369, with price rises in Toronto and Vancouver driving most of the increase. The average price of a Vancouver house was $775,811 and in Toronto, it was $523,228.
Average prices dropped in the Fraser Valley, Ottawa-Gatineau and Kitchener-Waterloo, Ont.
CREA doesn’t expect the strong numbers will last this fall.
“That pool of homebuyers [who had locked in mortgage rates] has largely evaporated, so demand may soften over the fourth quarter,” said CREA chief economist Gregory Klump.
The big year-over-year gains will persist because sales were so weak in fall of 2012, he said.
Around 325,180 homes traded hands across the country so far this year. That is 2.9 per cent below levels recorded last year and overall sales are expected to stay below 2012 levels.
Source: CBC.ca/news
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