Edmonton Real Estate Blog

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+45 adult building right beside Bonnie Doon Mall. Close to all public transportation and amenities. Top floor unit with over height ceiling in the living room, with a downtown city view from the balcony. Ugraded unit with extended kitchen cabinets and counter tops. Gleaming hardwood floors, with carpet in the bedrooms, and ceramic tile in the bathrooms. Features insuite laundry and storage. Additions storage unit is in front of the assigned parking stall. Master bedroom has a walk-thru closet leading to the full ensuite bath. The unit comes with 1 underground heated parking stall. The parkade also has it’s own car wash for the residents.

Edythe brings to her Real Estate career the knowledge of being an Edmonton resident for 45 years. Knowing the Edmonton neighbourhoods is a great asset to finding the property and area of your choice. Over her lengthy career, Edythe has experience in residential, investment, condominium, and new home properties. She is a proven negotiator and can find you your dream home.

Edythe consistently demonstrates a true commitment to her clients, making them her #1 priority. She makes herself available to her clients 7 days a week. When it comes to working with her clients to buy or sell their home Edythe has consistently proven herself to be a true Real Estate Professional year, after year. She is more than happy to navigate you through the Real Estate process.

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Edmonton, August 2, 2013: Sales of residential properties are up in double digit increments in all categories when compared to last year, according to the REALTORS® Association of Edmonton. Total residential sales in July were up 24.9% year-over-year with 1,875 sales (1,736 reported). Sales figures are adjusted to account for unreported transactions at month end. Prices were also up year-over-year in all categories.

The average price for a single family detached (SFD) property in the Edmonton Census Metropolitan Area (CMA) in July was $410,372, down 0.5% from June but up 3.4% from a year ago. Condominium average prices dropped 7.4% m/m but were up 2.6% y/y at $242,516. Duplex/row house prices were up 8.6% y/y (down 2.8% m/m) at $330,906. The all-residential average price in the Edmonton CMA in July was $350,726 (down 2.5% m/m, up 3.3% y/y).

“These are the highest figures for July that we have seen since 2009,” said President Darrell Cook. “Prices and sales have peaked for the year and the month-over-month numbers are lower than June but when compared to last year our market is very robust. Although listings are up over the same time last year, our inventory has slipped by almost 250 units. Going forward, some buyers may have to consider compromises to find their new home in this market.”

The sales-to-listing ratio of 68% was the result of 2,543 residential listings and 1,736 residential sales in July. The total value of real estate sales through the Edmonton Multiple Listing Service® System in July was $814 million; up 18% from July 2012.

Environics Analytics, a Toronto-based data analytics firm, reported last week that the average net worth of an Edmontonian was $433,970 in 2012, up 1.6% from 2011 as compared to the Canadian average net worth of $400,151.*

“Despite the rain and flooding in Alberta last month, the housing market has thrived,” said Cook. “Edmonton has jobs, housing options, and an economy that is attracting newcomers to the city and ensuring that current residents have an appealing lifestyle.”

The average days-on-market was down one from July 2012 at 49 days, which means that an average sale was completed in about a month and a half.

Source: Realtors Association of Edmonton

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In the fall of 2012 the Office of the Superintendent of Financial Institutions (OSFI) advised lenders to cease the cashback products for clients to use for downpayment.

However, we have one large provincial lender that was not regulated by this change and is currently promoting this product in the market place.

If you or anyone you know is looking at buying and do not have a downpayment saved up, this may be a great way to enter the housing market earlier than you ancitipated.

Please note, cashback mortgages require the borrower to payback the 5% via a slighlty higher interest rate over the first 5yrs of the mortgage.  Please contact us for more details.