Edmonton Real Estate Blog

Beautiful and well maintained property. Large master bedroom with a full 4 pce. ensuite bath. Good size Island kitchen with eating bar with access leading to the deck. The second bedroom on the main floor has been converted into a large formal dining room. For your convenience the laundry is situated on the main floor. The basement is fully finished with 2 more bedrooms and a den.

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Edmonton, May 2, 2013: With the a later than expected arrival of spring, average prices for housing in the Edmonton Census Metropolitan Area (CMA) decreased month-over-month in April after a surprising uptick in March. The REALTORS® Association of Edmonton reports that the all-residential price (including single family detached, condominiums, duplexes and row-houses) decreased 1.8% over March to $348,535. Compared to April 2012, the all-residential price was up 2.0%.

“The second quarter is the most active time of year for real estate sales,” said President Darrell Cook. “Both buyers and sellers want to complete the transaction before school starts in September and get settled into the new neighbourhood.” About 33% of annual sales happen in April, May, and June, while 25% occur in Q3 and 19% in the last three months of the year. In April, there were an estimated 1,645 (1,523 actual) total residential property sales through the Edmonton Multiple Listing Service® as compared to 1,656 (actual) in April 2012.

Estimated SFD sales of 1,037 units (960 actual) were down 4.4% from last year but condominium sales increased 4.1% year-over-year to 459 estimated sales (425 actual). There were 118 estimated sales of duplex/rowhouse properties (109 actual) in April (up 15.4% y/y). Sales numbers are estimated to account for late reported sales and provide meaningful comparison to previous year actual sales.

Market activity picked up in April according to both market activity indicators. The sales-to-listing ratio was up at 55% in April while days-on-market was down from 50 in March to 49 in April. Inventory continues to be relatively low with 5,294 residential properties of all types available on the MLS® System at the end of April. There were 2,769 residential properties listed for sale in April (up just 0.5% from April, 2012). “As many as 100 additional homes are listed everyday so motivated buyers need to maintain contact with their REALTOR® to ensure that they are notified the moment that a suitable property becomes available,” said Cook.

In April, the average price for a single family detached home was $402,270 (down 3.5% from March). The average priced condo sold for $243,503 (down 1.3% m/m) and duplex and rowhouses prices were up 2.8% to $324,975 on average. It is important to note that the average price encompasses all properties and can be driven upward by a higher than average number of expensive sales in any given month.  Contact your REALTOR® to get an accurate evaluation of your home.

Source: Realtors Association of Edmonton

Edmonton is the second-best market in the country to invest in housing, says real estate analyst Don Campbell.
“Population growth is strong, job growth is strong and things are supporting this market quite nicely, said Campbell, founding partner of the Real Estate Investment Network, a business that provides resources and information on real estate to members.
“It doesn’t look like it’s going to be another ‘07 where it just got into pure frenzy, but I think you’ll see late this year and early 2014 — which is a year behind Calgary as always — that the market will really start to push up.”
Home-buying demand will start taking off late this year while prices will begin rising next spring, Campbell says.
He bases that prediction on a formula where demand and prices come about 18 months after increased rents, which in turn follow decreased vacancies, increased demand for rental housing and growing population. All of those are triggered by earlier economic and job growth.

“We’re going to see a lot of listings come on during this year as well,” Campbell said, noting a current undersupply of listings.
Investors who bought too many properties in 2007, 2008 and 2009 will see the increased buying demand as a chance to sell, he said.
“The market’s barely moved in Edmonton as far as value. It’s a good window of opportunity before it starts to heat up again to get into the market. From an investment point of view, your rents are going up.”
He said when suites go vacant, landlords will raise rents by $150 to $200 per month.
“That will make renters think twice about renting rather than buying and that will happen over the next 12 or 18 months.”
Edmonton is second only to Calgary as the best place to invest in Canada in residential real estate. Campbell rates Hamilton as third because of its diversifying economy and job growth. Campbell was in Edmonton to promote his latest book The Little Book of Real Estate Investing in Canada. Royalties from the book go to Habitat for Humanity.

By Bill Mah, Edmonton Journal
© Copyright The Edmonton Journal

IT’S STUNNING!!! 1852 sq.ft. 2 Storey, 3 Bdr Plus Main Floor den that could be used as a 4th bdr. It has 2.5 Bath, & Open Great Room Concept. Featuring Gleaming Hardwood, Earth Tone Tile, Neutral Paint & Laminate Floors, An Amazing Foyer With A Full & Open Ceiling That Accents The Beautiful Pillared Archway Which Divides The Formal Dining Room & Living room. A Lovely Traditional Dining Room Is Terrific For Entertaining During Those Special Occasions & Designed For A Full Dining Suite. The Great Room Has a Gas F/P. The Dinette is Bright & Cheery & the Kitchen Area Is Found At The Back Of the Home Opening up To the Deck & Back Garden. Also On The Main Floor Is A Laundry/Mud Room W/Newer Stainless Steel Front Loading Washer & Dryer W/Access To The Garage. Up The Grand Stairway To The Upper Level Is The Nicely Sized 2nd & 3rd Bedroom W/4Pc Bath & The Master Reteat That Boasts A Walk-In-Closet & A Gorgeous Spa W/Swirl Tub. The Home Also Has P/Fin Basement. Listed for $439,900 To view more pictures and information visit: http://www.edmontonhomesforsale.biz/listing/edmonton/chambery/e3330491-10632-181-av

Edmonton’s Magrath Heights Area Real Estate Listings and Sales statistics from your Team Leading Edge Magrath Heights specialist… Serge Bourgoin

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