Edmonton Real Estate Blog

Weekly rate minder provided by: Souchita Rattanarasy Dominion Lending Centres Optimum 780-932-2225. Explore Mortgage Scenarios with Helpful Calculators on http://www.souchita.com/

 There is no doubt that the fall market is here and we are seeing a slow down in real estate activity, but there are still some worrisome trends shifting.

As of this morning in Edmonton proper there are 1,789 single family dwellings for sales and that is down from 1,810 only a slight drop from last week.  However the number of sales were 576 which is down from 604 last week and 652 the week before that.  This gives us a listing to sales ratio of 3.11:1 which is still ok, but rising.  The most discouraging numbers are the sales which are dropping at a faster rate the number of listings.  If this trend continues it will have an impact on valuations.

The even scarier numbers come from the condominium market.  As of this morning there were 1,493 condominiums for sale in Edmonton proper.  In the last 30 days there were 345 sales.  That gives us a listing to sales ratio of 4.33:1 and that is a ratio that is definitely too high for valuations to continue to stay the same.  The pressure will be on condominium valuations to drop in the upcoming weeks.

 Always remember that there is a difference between average selling price that is often published and valuations.  Average selling price is just that the average price that homes are selling for versus valuation is what you are getting for that price.

 Source of listing and sales data provided by the Realtors Assc. of Edmonton

**Reduced $20,000!** **Over $35,000 of recent renovations and upgrades!** Prestigious Whitemud Creek home that is steps away from the ravine.  This 2021 square foot home was built by Carriage Custom Home Builders and features an open floor plan and vaulted ceilings.  Enjoy your summers in the large terraced backyard with mature landscaping, trees, and interlocking stone patio, or relax inside with full air conditioning.  Let the stress of the day melt away in the large ensuite soaker tub.  This lovely home has imported cork, laminate, and hardwood flooring, and a fully finished basement that would be perfect for that big screen TV. 

For more information and interior pictures click on the following link: http://www.edmontonhomesforsale.biz/view_listing/Ogilvie_Ridge/mls/E3198563

Edmonton, November 3, 2009: Resale housing sales continued their strong trend through October with sales of all housing types through the Multiple Listing Service® in October at the second highest level on record (after October 2006). There were 1,535 residential properties sold in October; up 23% from 2008 but down almost 10% from last month which follows the normal seasonal trend of month to month sales dropping through the fall.

“The housing market in Edmonton and area is still robust,” said Charlie Ponde, president of the REALTORS® Association of Edmonton. “Homebuyers are confident about their future prospects and keeping an eye on the possibility that mortgage rates will rise. They can lock-in their housing costs for five years while rates are at historic lows if they buy in this market.”

Residential housing prices remained stable within typical ranges for seasonal fluctuations. Prices for single family dwellings were down 2.2%, on average* from last month but up marginally (0.12%) from last year. Condominiums were priced down 3.2% from September but the same price ($11 difference) as a year ago. Overall, the average residential price in October was $318,969, down 2.5% from last month but up a third of a percent from 2008. Single family dwellings sold for $363,694 and condos sold, on average, for $237,601.

There were 2,205 homes listed on the MLS® System in October with 1,535 sales for a sales-to-listing ratio of 70%. The total value of residential sales in October was $490 million and total MLS® System sales (including rural and commercial properties) is up over last year for the year-to-date to over $6.18 billion. Total available inventory was 5,530 homes which is a typical 3.5 month supply. Homes sold on average in 47 days (44 in September but 58 in October 2008).

“Good looking homes in the average price range always sell quickly,” said Ponde. “Less desirable homes may take a little longer to find a buyer and home sales at the upper price ranges are steady. It is important to consult your REALTOR® to devise a strategy for buying or selling a home to ensure you get the latest market and neighbourhood information.”

Source: REALTORS® Association of Edmonton

Weekly rate minder provided by: Souchita Rattanarasy Dominion Lending Centres Optimum 780-932-2225. Explore Mortgage Scenarios with Helpful Calculators on http://www.souchita.com/

Sunday November 1

1pm-4pm

215 Kirkwood Avenue

Perfect family living in Kiniski Gardens! 3 Bedroom bungalow that is perfect for family living with new warm neutral paint scheme and a classy open design.  Hardwood and ceramic floors.  Master bedroom has his and her closets and a lovely ceiling fan.  Bright open kitchen with lots of counter and cupboard space, with all major appliances being newer than 4 years old.  Large finished basement perfect for that big screen TV or a pool table for entertaining.  Basement also features good sized 3rd bedroom, as well as a 4 piece bathroom, and a large storage and laundry room.  Energy saving motion sensing lights in upstairs bathroom and 2nd bedroom.  Beautiful new tiered cedar deck in backyard with bench seating on both levels, and a perfect space on the lower tier for a patio set.  New 12 year warranty hot water boiler as well as new lifetime magnetic furnace filters.  Welcome home!

1042sqft                                              Bungalow

3 Bedrooms                                   2 Bathrooms

$289,900

Call Serge Bourgoin of Re/Max for more info or to book a showing at another time

 (780) 995-6520

 We’ll see you there!

Weekly rate minder provided by: Souchita Rattanarasy Dominion Lending Centres Optimum 780-932-2225. Explore Mortgage Scenarios with Helpful Calculators on http://www.souchita.com/

Want to be close to everything?  This 1 bedroom plus den apartment style condominium located on Whyte Ave. in the Bonnie Doon area just might be for you.  Listed for $229,800 this might be the home for you.  For more information and pictures visit us at www.FindMyhouse.ca

This home just has to been seen inside to be believed and see what an incredible value this home is.  This home has been totally been redone with gleaming hardwood floors, ceramic tiles in kitchen and bathrooms.  There is a large fenced back yard with a 2 tiered deck with the 1st level completely covered.  The finished basement has plenty of room in the large family room.  Listed for only $289,900.  To view more pictures visit us at www.FindMyHouse.ca

Sunday October 18 1pm-4pm

208 Omand Drive

Recent Upgrades within the past 2 weeks: New carpeting and ceramic tile on 2nd floor, new plumbing and light fixtures

Prestigious Whitemud Creek home that is steps away from the ravine.  This 2021 square foot home was built by Carriage Custom Home Builders and features an open floor plan and vaulted ceilings.  Enjoy the rest of summer in the large terraced backyard with mature landscaping, trees, and interlocking stone patio – or relax inside with full air conditioning.  Let the stress of the day melt away in the large ensuite soaker tub.  This lovely home has imported cork, laminate, and hardwood flooring, and a fully finished basement that would be perfect for that big screen TV.  Must be seen!

2021sqft                                              2 Storey

4 Bedrooms                                   3.5 Bathrooms

$539,900

Call Serge Bourgoin of Re/Max for more info or to book a showing at another time

 (780) 995-6520

 We’ll see you there!