Edmonton Real Estate Blog

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.

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/

Source: The Canadian Press  Link: http://www.edmontonsun.com/news/canada/2009/08/26/10619921.html

TORONTO — The Frigidaire division of Electrolux Canada Corp. said Wednesday it is voluntarily recalling nearly 43,000 stoves sold throughout Canada and the United States over a seven-year period.

The company issued warnings about safety hazards related to its Frigidaire and Kenmore Elite freestanding electric ranges with rotary knobs and digital displays. Frigidaire said the stoves’ elements may heat up without being turned on, fail to cool down after being turned off, or heat to different temperatures than those specified by users.

The recall covers 42,955 units — 22,125 Kenmore stoves and 20,830 ranges bearing the Frigidaire brand.

The company said models sold in Canada have not been linked to any serious injuries or property damage, but added there have been six minor incidents south of the border.

The affected ranges were sold across Canada between June 2001 and September 2008 through a variety of retailers.

Sears Canada, which sold the units in its brick-and-mortar stores and through online and hardcopy catalogues, said it would conduct free repairs for any concerned customers.

Frigidaire, which is offering the same service, urged consumers to stop using the stoves immediately until repairs are completed.

Customers are encouraged to contact Frigidaire at 1-877-609-7857, or phone Sears Canada at 1-866-691-9948.

Below is the list of model numbers affected by the recall, as provided by Frigidaire. Model and serial numbers are located inside the drawer at the base of the unit on the righthand side of the frame.

Kenmore Elite Model Numbers Beginning Serial Number Rangemwith these Letters and Numbers

C970-68802 VF122xxxxx to VF831xxxxx

C970-68803

C970-68804 or

C970-68808

C970-68809 NF122xxxxx to NF806xxxxx

C970-68830

C970-68832

C970-68833

C970-69803

C970-69804

C970-69808

C970-69809

Frigidaire

CGLEFM97DB VF122xxxxx to VF831xxxxx

CGLEFM97DS

CPLEF398AC or

CPLEF398DC

CPLEFM99EC NF122xxxxx to NF806xxxxx

CPLEFZ98GC

PGLEF388CS

PGLEF388ES

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/

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.

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/

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

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2 Bedroom                                             2 Bathroom

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More pictures available at www.FindMyhouse.ca

Call Serge or Kate at (780) 634-8151