Edmonton Real Estate Blog

Just Listed in North Edmonton!!

Opportunity for retired living! 45+ Adult community.  This 3 bedroom 2.5 bathroom bungalow is in the quiet location of Amberwood Castlebrook in the Elsinore community.  You will enjoy the remaining days of summer on the fully covered deck.  The fully finished basement provides lots of room as well as a beautiful gas fireplace in the family room that gives it character and a little extra heat on those chilly nights that are sure to come.  Main floor laundry means never again carrying pesky laundry baskets up and down stairs.  The double attached oversized garage is heated and insulated providing hassle free preperation for winter driving (think not having to clear off your car in blistering cold temperatures or waiting for your car to heat up) and also features hot and cold water taps.  Newer stove and fridge (1 year old) and new linoleum provide assurance of easy upkeep. 

This won’t last! 

1130 Sq Ft                                                 Bungalow Townhouse

3 Bedrooms                                             2.5 Bathrooms

$349,900

For more pictures view at www.FindMyHouse.ca

Call Serge or Kate at (780) 634-8151

Edmonton, September 2, 2009: Residential sales through the Edmonton and Area Multiple Listing Service® in August were lower than the number posted in July but higher than sales the previous August. There were a total of 1,673 sales last month as compared to 2,277 in July (a monthly record) and 1,541 in August 2008.

“Although sales numbers cooled a bit after record sales in June and July, we are still experiencing the strength of the market in Edmonton,” said Charlie Ponde, president of the REALTORS® Association of Edmonton. “Our members continue to report high buyer interest. Although sales in the fall are slower than the spring, buyers are looking for a home and sellers can reach them through the MLS® System.”

Prices for Single Family Dwellings climbed steadily all year and peaked in July at $372,741. The average* SFD sold for $366,788 in August, down 1.6 percent from the previous month. The current price is just $2,400 lower than average prices in August 2008.

Condominium prices were also down in August; dropping less than one percent to $242,035 on average in August from $244,265 in July. By comparison, the average price for a condo in August 2008 was $251,048. The average price has come down because of the increased amount of lower priced product that has entered the market rather than the value of a particular property being marked down.

Duplex and row house properties sold on average for $294,007 and the combined Average Residential Price was $318,321 in August; down 3.3% from $329,207 in August 2008.

“Our market is operating normally,” said Ponde. “There is a balance between buyers’ and sellers’ expectations and, while prices fluctuate seasonally, there are no major price swings. The strong inventory and activity levels result in moderation and stability.”

The average days-on-market was 48 in August; up two days from July. At the end of August there were 6,445 residential properties active on the MLS® System.

Highlights of MLS® System activity

¹. Residential includes SFD, condos and duplex/row houses.
². Single Family Dwelling
³. The middle figure in a list of all sales prices

* Average prices indicate market trends only. They do not reflect actual prices, which may vary

Sept. 01, 2009

Well the month of August was pretty similar to what we saw in the month of July.    As of this morning there were 2,069 single family dwellings listed with the Edmonton Realtors Association on MLS.   In the previous 30 days there were 712 single family dwellings that sold. That would give us a listing to sales ratio of 2.9:1 a slight increase from last month, but still well below the 4:1 listing to sales ratio we need for a balanced or neutral market. 

I am not concerned with the slight increase in the ratio as I mentioned it is still below the neutral point and we have to take into consideration that it was August which is typically a slower month as people try the get the last of the summer holiday fun in, and then start to get prepared to get the kids ready for school.

I am expecting to see the sales start to increase in the month of September and October as we get into our normal fall market. Home valuations like most things are dictated by the law of supply and demand.  And at this time the lower ratio indicates a fairly high demand.

I expect the balance of the year to continue to be strong, but I do expect that 2010 will be even stronger, and valuations to continue to increase.

So what does that mean to you?  Well if you are a first time buyer you are going to want to get into the market as soon as possible.   If you are looking at selling your current home to move to a bigger or more expensive home you are going to want to do it as soon as possible.  However, if you are downsizing, or moving to a lesser expensive home then you want to wait for market valuations to continue to rise before you make your move.

Please feel free to give me a call anytime on my cell 780-995-6520 should you ever be curious on the value of your home and would like a free no-obligation comparative market analysis of your home.

Morning everybody,

I want to apologize for the delay in getting this statistics out this week.  We are doing some changes and upgrading to both the website and the blog.

As of this morning there are 2,192 single family homes listed on MLS in Edmonton proper.  That number has remain fairly consistent over the last few weeks.  The number of sales in the past 30 days were 788 a slight increase over last week.  That give us a listing to sales ratio of 2.78:1 still lower than the 4:1 we need for a balanced ratio that we need for a neutral market.  So I expect that we should see valuations continue to rise slightly over the short term, or until we see that ratio get closer to the 4:1.

Source: Realtors Association of Edmonton

Well the numbers today start to show a slowdown in sales.  But that is normal this time of year.  Typically we see a slowdown in sales in July and August, a seasonal slowdown and sales pick up again in September.

 As of his morning there were 2,167 single family dwellings for sale in Edmonton proper which is fairly steady in comparison for the last few weeks.  What has dropped off was the number of sales at 752 which is lower than we have seen in the last few weeks.

However that still give us a listing to sales ratio of 2.88:1 well below the 4:1 that we need for a balance or neutral market.  With that kind of ratio I expect valuation to continue to rise.

The average home that is selling is 1,453 sq.ft,, avg. selling price was $370,970, taking 36 days to sell, and selling within 97% of the listing price.  Keep in mind that avg. selling price and valuations are two different things.

If you have been thinking about buying your first home or upgrading to a bigger and more expensive home the sooner you do it the better off you will be.

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

Just Listed in South-East Edmonton!!

Beautiful home – just move in and enjoy! This 4 bedroom  3.5 bathroom 2,346 sq ft home is located in Jackson Heights and is absolutely stunning.  If it gets too hot for you in the summer just relax inside with the full air conditioning, or if you enjoy the heat have perfect get-togethers in your beautifully landscaped backyard with deck!  The enourmous fully finished basement is perfect for entertaining – huge rec room, 4pce bathroom, and wet bar.  The 4th bedroom is in the basement and has a walk-in closet!  Curb appeal that people will envy for years to come.  Heated and insulated double attached garage for those who like to work on their projects in colder weather.  Don’t miss this great opportunity.

2346 Sq Ft                                                 2 Storey

4 Bedrooms                                             4 Bathrooms

$449,900

For more pictures view at www.FindMyHouse.ca

Call Serge or Kate at (780) 634-8151

 Just Listed!!

If you’ve wanted to live in an executive condo overlooking the river valley now’s your chance! This 2 bedroom 2 bathroom has been completely redone with over $55,000 in upgrades including slate and hardwood flooring, custom maple cabinets, quartz countertops and eating bar, stainless steel appliances, and renovated bathrooms.  Both bedrooms are large with Californian closets.  Enjoy dinner parties with friends and family with your open concept living room and kitchen.  Building features indoor salt water pool, sauna, fitness area, and underground heated parking.  Close to shopping, bistros, and lots of entertainment on Whyte Avenue – What more could you ask for?

1087 Sq Ft                          Apartment Style Condo

2 Bedroom                                             2 Bathroom

$341,900

More pictures available at www.FindMyhouse.ca

Call Serge or Kate at (780) 634-8151

Wow what a busy long weekend this was.  Normally long weekends are slow as people are out of town enjoying their days off.  Well this long weekend I still managed to get 3 of my listings go deal pending.  This is indicative to me that there are many people out there looking at homes and today’s stats seem to back that up.

As of this morning there were 2,071 active single family homes listed in Edmonton proper.  That is a slight drop over last week.  We also had 905 homes sell in the last 30 days.  That would give us a listing to sales ratio of 2.29:1 which is slightly lower than last week, and indicates that we are going to see continued upward pressure on valuations.

With valuations of homes increasing if you are thinking of buying or thinking about making a move up to a more expensive home don’t wait any longer.  Save some money and do it now.

Well it looks like the heat, Capital-Ex, and the Rexall Indy had very little impact on the real estate market here in Edmonton.

As of this morning there were 2,156 active Single Family homes on the market in Edmonton proper, which is very similar to what we saw the previous week.  In the last 30 days there were 911 sales, which again is very similar to the numbers we saw last week.  This would give us a listing to sales ration of 2.37:1 which again is similar to last week’s number.

Even though the market seems to be stabilizing at these numbers that ratio is still below the 4:1 that we need for a balanced or neutral market and does indicate that we are going to see increases in valuations.

Like I have been saying for some time now, don’t hold off on buying your next home as it will cost you more money.