Edmonton Real Estate Blog

http://www.edmontonhomesforsale.biz/listing/edmonton/rutherford/e3378631-12214-16-av

Welcome to this beautiful 2 bedroom/2.5 bath half duplex in desireable Rutherford. Great location backing onto Johnny Bright School. This home features an open concept on the main floor with hardwood and lino floors, large bright kitchen, light coloured oak cabinetry, spacious livingroom with gas fireplace, comfortable dining area, a 2 pc bathroom, and sliding patio doors leading to a beuatifully landscaped backyard that has a 2-tiered deck and vinyl shed. The upstairs has two large bedrooms, a 4pc common bathroom, and the master comes with a 4pc ensuite and 2 walk-in closets. Basement has been professionally finished with recreation room and a laundry room with sink. Single attached garage is insulated/drywalled. All of this is conveniently located beside a K-9 school, public transportation, walking trails, and major amenities. Great home for a young family!! (No condo fees)

https://www.youtube.com/watch?v=4eChXcJgWEo&feature=youtu.be

Incredible 2 storey home in southeast neighbourhood of Silver Berry with upgraded gourmet kitchen with an large island with eating bar, over-sized double stainless steel fridge/freezer. Cabinets and counter top have been extended with a new back splash added. The cabinets have built-n wine rack. The gleaming hardwood floors gives you a great feeling of luxury. You will be able to stay cool this summer with central air conditioning. This home also boast 3 large bedrooms, huge bonus room above the garage. The sliding patio doors will lead you to a large 28×14 foot deck and that nicely landscaped and fenced yard. You will enjoy the convenience of a main floor laundry. The large master bedroom features a walk in closet and has an en suite bath that features a double corner soaker tub, and stand up shower.

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According to the REALTORS® Association of Edmonton the average price of a single family home (SFD) in the Edmonton Census Metropolitan Area (CMA)1 in April has dropped slightly from the high in March, even with the sale of 13 homes over a million dollars.

In April, the average SFD price was down more than $5,000 to $427,685; a decrease of 1.5% from March but up 5.9% from the same month a year ago. The all-residential average price was $365,045; up 0.4% from March and up 4.5% from a year ago. The higher SFD prices this year have put pressure on affordability and increased demand at the lower price end of the market. The average price for a condominium rose 1.1% from March to $251,300 (up 2.8% Y/Y).

There were 1,983 adjusted all-residential sales (1,836 reported) in April 2014 compared to 1,689 sales in March. Listings also rose in all categories to fill the demand which is common for this time of year. There were 2,977 residential properties listed in April compared to 2,548 last month; an increase of 16.8%. The overall sales-to-listing ratio in April was 62% compared to 60% last year and average days-on-market was 42. End-of-month residential inventory was 4,910, up 11.3% from March.

“The Edmonton CMA is experiencing the highest job and population growth in Canada and that should continue for the foreseeable future,” said President Greg Steele. “Edmonton is a diverse city and housing options exist in all price ranges but competition at the lower-priced end of the market is increasing. Entry level buyers may have to be a little more patient or scale back their expectations to find the home they can afford.”

The most active region of Edmonton is North Central north of Yellowhead Trail between 66 Street and 142 Street where there were 167 sales in April;  an increase of 0.6% over March and 23.7% over last year. Fully 20% of all SFD sales were in North Central in April. Areas in the Southeast, Southwest, and South of the Anthony Henday each had sales of about 140 SFD properties in April. The only region of the city to see a decrease in the number of sales year-over-year was the Southeast (Millwoods).

The highest priced homes were located, as usual, in the Southwest region but they saw an 8.7% drop in April compared to March. Homes in the West and Anthony Henday regions also saw price drops month-over-month. Homes in the North, Central, and Southeast were all sold on average below the city–wide average while homes in the West and southern regions (except Southeast) were priced $50,000 or more above average. (Next month we will feature outlying communities.)

“New housing is being built all around Edmonton but the biggest region of new home construction is south of the Anthony Henday,” said President Greg Steele. “Because this housing is often sold directly by the builders and not listed on the MLS® System, our figures do not include many of these sales. Buyers should ask their REALTOR® to show them new home options in these areas as well.”

Source: Realtors Association of Edmonton

Edmonton, April 3, 2014: The REALTORS® Association of Edmonton launched a new community information website today. The website, at YEGisHome.ca, contains information about every community in Edmonton, over 90,000 businesses and public places, ticketed events and local news. It also contains all the homes and properties currently available for sale on the Edmonton Multiple Listing Service® (MLS®) operated by the Association.

“Homebuyers want to know the details of a home for sale but they also want to know more about the community in which it is located,” said Greg Steele, President of the REALTORS® Association. “This website provides a platform for new and existing residents to connect with their community in a more informed way.” Because of the high volume of traffic to real estate websites, the community information on YEGisHome.ca will get more exposure than the same data on other websites.

The website is organized by community and all information relevant to that community is located in one place. The website also picks up any Twitter messages (tweets) tagged with #YEG and the community name. Local news items are provided by CTV Edmonton. Local events are profiled and tickets may be available on-line through Tix on the Square.

“REALTORS® have served home buyers and sellers in the Edmonton area for over 85 years,” said Steele. “We are a stable and responsible business organization and YEGisHome.ca is made available at no charge to users as our gift to the community. We’re very proud of YEGishome.ca; we believe it’s more than just a dynamic new website. It will change the way people experience real estate, making it easier than ever to make well informed choices.”

The website was developed in Edmonton by Ignition Media, a full service agency that specializes in branding, advertising, web design and development, and interactive marketing. “We are excited by a challenge and delighted that the REALTORS® Association of Edmonton selected us to develop this website,” said President Tim Hanas.

The website will be expanded to include other communities in the near future although available homes and municipal information is already available for many of the municipalities in the area.

Source: Realtors Association of Edmonton

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