Edmonton Real Estate Blog

Edmonton, October 2, 2012: The REALTORS® Association of Edmonton reports that residential listings and sales have trended lower in the third quarter after an active start to the year. In September, there were 1,269 residential sales in the greater Edmonton market as compared to 1,442 in September 2011. Despite the recent cooling trend, residential sales year-to-date are still up 7.2% as compared to last year at this time. There have been 14,565 residential sales to the end of the third quarter as compared to just 13,729 last year.

“There were changes to the mortgage qualification rules in March,” said REALTORS® Association of Edmonton President Doug Singleton. “We did not see an effect on the local market at that time but it seems to have had a cooling effect in the past quarter.”

The average1 price for a single family dwelling (SFD) has remained higher than last year for each of the past nine months. In September, the SFD average price of $376,678 was up just 0.23% from the previous year and is up 2.78% from the January 1 price. The all-residential average price is down 2.6% from last year at $323,369. This is the first month this year that the all-res price has dipped below the 2011 figure for the same month.

Condominium and duplex/rowhouse prices are more volatile and vary widely from month to month. In September average condo prices were down 3.1% ($229,246) while duplex/townhouse prices on average were up 2.75% ($307,739). Still, after nine months both current prices are up from the January 1, 2012 prices for the category.

Total MLS® System listings this year are up 104 units as compared to last year at 33,295 properties but Total MLS® System year-to-date sales are 16,487 units as compared to 15,378 at the end of the third quarter in 2011. There are 6,956 residential properties in the inventory compared to the 8,062 last year at this time. Rural and commercial property sales are both up marginally compared to last year although listings have dropped. The residential sales-to-listing ratio was down from 56.7% to 52.3% and residential days-on-market was up to 59 in September from 54 in August.

“Sales always fall month-to-month at the end of the year; that’s just normal market fluctuation,” said Singleton. “But overall, the market has been stable with little market advantage for either buyers or sellers. Edmonton is still one of the best places in North America to own property and I urge consumers to talk to their local REALTOR® when they are in a position to buy or sell property.”

Activity (for all residential sales on Edmonton MLS® System)

¹ The total value of sales in a category divided by the number of properties sold
² Single Family Dwelling
³ The middle figure in a list of all sales prices
⁴ Residential includes SFD, condos and duplex/row houses.
⁵ Includes residential, rural and commercial sales

¹ Average prices indicate market trends only. They do not reflect actual changes for a particular property, which may vary from house to house and area to area. Prior period figures have been adjusted to include late reported sales and cancellations and therefore reflect a more accurate view of the period than previously reported at month end. The RAE trading area includes communities beyond the CMA (Census Metropolitan Area) and therefore average and median prices may include sold properties outside the CMA.

(Reuters) – Canadian housing starts surged unexpectedly in August as a few large multi-unit projects in Toronto, pre-sold in late 2010 and early 2011, broke ground, data from the Canada Mortgage and Housing Corp showed on Tuesday.

The seasonally adjusted annualized rate of housing starts was 224,900 units in August, compared with 208,000 units in July. The July figure was revised down slightly from 208,500 units reported previously.

The number of starts in August was well above the forecasts of analysts in a Reuters poll, who had expected starts to slow to 200,000 starts.

To view and search all MLS listed homes for sale in Edmonton visit www.edmontonhomesforsale.biz

The Edmonton Real Estate market continues to be robust. As
of this morning July 18, 2012 there were 3,076 single family dwellings listed
on MLS with the Realtor’s Association of Edmonton. This level of inventory is a
very healthy.

In the past 30 days there were 941 homes sold. For this time
of year this is a very healthy and strong number. This would give us a listing
to sales ration of 3.27:1 which is well below the 4:1 ratio needed for a
neutral or balanced market.

With a 3.27:1 listings to sales ratio I expect there to be
continued pressure for valuations to continue to rise. I think that in the next
30 days we will see how much of an impact the new mortgage rules that came into
effect July 09, 2012 will have on the real estate market in Edmonton.

If you are thinking of buying you will probably save
yourself thousands of dollars by buying now versus waiting a few months. Call
me today if you would like some help to find your next home. Serge @ 780-995-6520.

To view and search all MLS listed homes visit us at
www.edmontonhomesforsale.biz

The month of May is almost over and a review of the number of listings and sales of single family homes in Edmonton proper show a very robust market.

Currently there are 3,094 single family homes listed in Edmonton proper. That is a healthy level of inventory on the market giving buyers ample homes to choose from.

The number of sales has been on the rise. In the previous 30 days there have been 1,062 single family homes sold in Edmonton proper.

With this level of homes available for sale, and the number of sales that have taken place in the previous 30 days this would give us a listings to sales ratio of 2.91:1. This low of a level has not been seen for some time in Edmonton. Also with a ratio so much below the 4:1 that we need in Edmonton for a neutral or balanced market there is going to be substantial pressure for home valuations to rise.

Buyers should not put off buying a home before house prices go up any further.

* Information source: The Realtors Assc. Of Edmonton as of May 30, 2012.

If you are thinking of buying a home better buy now before prices go up even further.

The spring marketplace has been very strong in Edmonton. Currently there are 2,910 single family homes listed for sale in Edmontonproper*. That is a healthy inventory level for this time of the year.

However in the past 30 days there have been 863 single family homes sold in Edmonton proper. This is also a healthy number of sales for this period of time*.

With these listings and sales that would give us a listing to sales ration of 3.37:1, this is below the 4:1 that we need in Edmonton for a neutral market. This is an indicator that there is upward pressure on valuations  and I would anticipate house prices to be rising for the next period of time.

We also know that the 5 year mortgage rates are going up on Friday. Waiting to buy will cost you more money than you will be able to savefor additional down payment. Call me today to start your search for a new homeat 780-995-6520 or visit www.edmontonhomesforsale.biz to search all Edmonton and area MLS listed homes.

*based on listings and sales as of April 26, 2012

Edmonton, April 2, 2012: At the end of the first quarter, the REALTORS® Association of Edmonton reports that the average residential price in the Edmonton area is up 2.2% when compared to a year ago.
The all-residential average1 price, at $335,187 compared to $328,094 in March of last year. Single family detached (SFD) and condominium average prices were stable year-over-year with SFD prices up 0.2% and condos down 0.7%.

“Other markets, such as Toronto, are reporting feverish real estate activity involving multiple offers and unconditional offers but our market is calm, orderly and slowly evolving,” said REALTORS® Association of Edmonton President Doug Singleton. “Listing activity is up when compared to last year but sales
and inventory are down which could indicate that market activity will pick up markedly as the summer progresses.”

On the Multiple Listing Service® System, sales and listings by REALTORS® in March were up, with 3,271 residential listings (up 23.5% from February) and sales of 1,533 (up 24.5% from the previous month). As a result, the inventory of residential properties available for sale was up 14.6% at 6,851 properties. At the current sales level, there are four and half months of inventory available. In total, there are 10,640 properties of all types (commercial, rural and residential) on the Edmonton and Area Multiple Listing Service®.

Market stability is reflected in the sales-to-listing ratio which is unchanged from month-to-month. The average days-on-market dropped in March byone day from 54 to 53 and residential properties are selling at about the same pace as this time last year on a year-to-date basis (46%).

In March, the average price of a single family detached home was $380,083, up 1.3% from the previous month. The average price of a condominium in March was $231,629, down 1.4% from the February price (last month the price of condos advanced over 8% in a month). Duplex and rowhouse properties sold on average for $319,020; a 4.1% improvement from the previous month.

“April is the start of the real estate season when people who want to buy and sell real estate are most active,” said Singleton. “There is speculation that mortgage rates will start to rise which makes it more difficult for first time buyers. However, there is lots of choice in our market with new properties
coming available daily. Whatever your housing situation you can trust the advice of your local REALTOR® who is here when life happens.”

* Average prices indicate market trends only. They do not reflect actual changes for a particular property, which may vary from house to house and area to area. Prior period figures have been adjusted to include late reported sales and cancellations and therefore reflect a more accurate view of the period than previously reported at month end.

It is amazing what can happen in just a few weeks. We have had a complete turnaround in the real estate market here in Edmonton. Just a few short weeks ago we were in a buyer’s market and now we are in a seller’s market.

As of today April 04^th there are 2,673 actives single family homes for sale in Edmonton proper. That is a healthy level but I expect it to rise as we get deeper into this spring marketplace.

In the last 30 days there has been 849 single family homes sold in Edmonton proper. This would give us a listing to sales ration of 3.14:1 much lower than the 4:1 that we need here in Edmonton for a balanced market.

With this low of a ratio I will be expecting home valuations to start rising. If you have been thinking about buying you should do it now before valuations and interest rates rise any further.

To get pre-approved for a mortgage visit www.edmontonmortgagesource.com

This has been one of the most strangest years that I can remember since I started real estate back in 1985. I say strange because it was the busiest January and February that I can ever remember having but by looking at the sales statistics it would appear not everyone was having the same success.

As of today March 03, 2012 there are 2,318 single family homes listed in Edmonton proper on the Multiple Listing System.  That is a reasonable listing level.

In the previous 30 days there were 604 single family homes sold in Edmonton proper through the Multiple Listing System. That is a significant increase over last months sales level.

This would give us a listings to sales ratio of 3.84:1 which is below the 4:1 we need in Edmonton for a neutral or balance market. This tells me that we are starting to see some increased pressure for valuations to start to rise.

If you are a buyer you better buy now before prices go up and interest rates go up. Call me today to help you find your dream home now. Serge 780 – 995 – 6520

Whether you are thinking about buying or selling it always pays to have the best working for you.