For those of you looking for this update on my usual Monday morning I apologize as it was a very hectic day yesterday.

Well the market continues to improve.  As of this morning there were 2,458 single family homes on the market in Edmonton proper, while there were 869 sales in the previous 30 days.  That give us a listing to sales ratio of 2.83:1. This ratio is again lower than last week and at this level is a strong indicator that valuations should be rising.

The biggest driver to the market has been the first time buyers as homes have become so affordable since the devaluations that had occured since May 2007.  And these other statistics do support that.  Of the 869 sales that occured in the last 30 days a full 56% of them were for homes under $350,000, 26% were for homes between $350,000 – $450,000, and only 18% were for homes that sold over $450,000.

Based on those kinds of numbers I would expect to see the rebound in valuations in the lower price ranges before we see it trickle up to the higher valued homes.  Again making it all that more important that if you are a first time buyer or a buyer looking to upgrade to a more valuable home to act sooner than later.

• – Break out the BBQ and enjoy the summer sun in your fenced backyard that overlooks a greenbelt!
• – And for those colder months, you can feel the warmth of the winter sun through the large windows in your oversized kitchen while you watch your kids make snowmen in the yard.
• – Have peace of mind knowing your children will be attending nearby schools.
• – Easy access to Anthony Henday and Whitemud will give you the convenience of easily getting almost anywhere in the city.

1151 sq ft                                                      2 Storey

3 Bedrooms                                                2 Bathrooms

Price: $199,999

Call Serge today for more information (780) 995-6520

7207 – 144 Ave.

Reduced $9,000 for quick sale.  Exceptional 4 bedroom bungalow with a fully finished basement that has suite potential, with a family room that has a dry bar and fireplace.  Also there is a sauna in the basement.  There is a heated double detached garage in the back.  Main floor living room and dining room features hardwood floors, new carpets.  Also recently the roof was redone and a new hot water tank installed.  Located conveniently close to bus route, walking distance to shopping, and schools.  The south facing backyard will allow you to enjoy that afternoon and evening sun, and has a large garden plot.  All the walks are made up of poured concrete and there is a deck in the back yard.

Just Reduced $20,000!

According to figures released by the Canadian Mortgage and Housing Corporation (CMHC) in May, housing starts in the Edmonton Census Metropolitan Area (CMA) totalled 355 units in April compared with 683 units in April 2008. After four months of activity so far this year, total housing starts have amounted to 1,116 units across Greater Edmonton, down from 2,998 units recorded during January to April of 2008.

Builders poured foundations for 206 single-detached homes in April, representing an increase of almost 16% from the 178 units started in April 2008. “This represents the first year-over-year improvement in single-detached activity since June 2007,” noted Richard Goatcher, CMHC’s Senior Market Analyst based in Edmonton. To the end of April, 607 single-detached homes began construction across Greater Edmonton, down from 835 units during the first four months of 2008.

Multi-family starts, which consist of semi-detached, row and apartment units, remained on a downtrend in April. A 26% year-over-year gain in row starts was offset by continued weakness in new apartment activity. Semi-detached, row and apartment starts totalled 149 units in April, representing a decrease of about 71% from the 505 multiple unit starts in the same month last year. Multiple starts have amounted to 509 units across Metro Edmonton from January through April, down nearly 77% from 2,163 multiple starts tallied in the first four months of 2008.

Housing starts in Alberta’s seven largest cities totalled 794 units in April, representing a decrease of 61% from 2,034 units in April 2008. All seven cities reported year-over-year declines.

Weekly rate minder provided by: Narish Maharaj Dominion Lending Centres Optimum (780) 238 – 7038 Apply online : www.dlconline.com

Things keep improving for sellers and there is more bad news for buyers.  As of today on the listed on the Realtors Association of Edmonton there are 2,491 single family homes listed in Edmonton proper.  In the previous 30 days there were also 837 single family homes sold.

That would give us a listings to sales ratio of 2.98:1.  This ratio have been dropping every week since we broke the 4:1 neutral market barrier and is telling us that valuations are rising.

You buyers need to get into the market as soon as possible to get the best deal and possibly save yourself thousands of dollars.  Please feel free to  call me on my cell 780-995-6520 if you would like some help finding that next home.

***Open House on Sunday May 17***

5505 152B Ave

1pm-4pm

• – Totally redone and upgraded!!
• – Mom’s kitchen belongs on the front of a magazine with its bright lighting from a huge window, new countertops and ceramic tile, raised oak cabinets, and vaulted knock-down ceiling! The new track lighting and the view of the lower family room make this room picture perfect, as well as elegant.
• – Dad can have his perfect Stanley Cup/Super Bowl party in the fully finished basement with wet bar and 4 piece bathroom – So break out those party snacks and cheer on your favourite team!
• – Mom and Dad can both appreciate the massive brightly lit bedroom complete with ensuite that has a modern contemporary sink and vanity. There is a walk-in closet for her and a second closet for him – Both with organizers.
• – It’s BBQ season, so invite those new neighbours over to have some burgers on your 2-tier deck while everyone admires your beautifully landscaped yard.

2119 sq ft                                                      4 Level Split

3 or 4 Bedrooms                                          4 Bathrooms

Price: $478,900

Call Serge today for more information (780) 995-6520

Reduced $9,000 for quick sale.  Exceptional 4 bedroom bungalow with a fully finished basement that has suite potential, with a family room that has a dry bar and fireplace.  Also there is a sauna in the basement.  There is a heated double detached garage in the back.  Main floor living room and dining room features hardwood floors, new carpets.  Also recently the roof was redone and a new hot water tank installed.  Located conveniently close to bus route, walking distance to shopping, and schools.  The south facing backyard will allow you to enjoy that afternoon and evening sun, and has a large garden plot.  All the walks are made up of poured concrete and there is a deck in the back yard.  Only $285,900.  For more information call Serge today 780-995-6520