- “But first and foremost I have to thank MIchele, my realtor. She wasn’t happy to just sell me a house, she insisted on finding me my home. Being my first place she definitely help me get all my ducks in a row and as a friend reminded me to breathe when things seemed a little overwhelming. “
Good News for Edmonton . We still keep Rolling even in this Market .
The REALTORS ® Association Reports :
Edmonton, November 2, 2016: Edmonton’s housing market remains constant for another month with residential unit sales increasing in October by 5.5% year-over-year (YoY).
“The housing market in Edmonton continues to experience relative stability, with increased sales and steady prices year-over-year for October,” said Steve Sedgwick, Chair of the REALTORS® Association of Edmonton. “We typically see the market slow during the colder months, so it is encouraging to see us moving into late fall with strong numbers.”
Keeping you In the Know. Contact me now if you or someone you know is Ready Michele 780 901-4770
Best time Best Deals Now before Spring Rush where typically it goes up
Edmonton, April 4, 2016: 1,364 properties were sold in the Edmonton Census Metropolitan Area (CMA) in March, up nearly 63% from the 837 homes sold last month, but down 6.13% from the 1,453 relative to March 2015. There were 863 single family detached homes sold in the Edmonton CMA, a 67% percent increase month-over-month, and down only 1.5% from the same time last year. March saw the sale of 335 condos and 144 duplex/rowhouses, up 44% and 82% from February, respectively.
“Sales, relative to last month, were consistent with the seasonal trends that we expect,” REALTORS® Association of Edmonton Chair Steve Sedgwick explains. “Inventory is growing, with more than 3,000 properties coming onto the market last month. Despite the inventory growth, prices are holding steady, with median prices on par with last year, and average prices up slightly due to the sale of high-end luxury homes in March.”
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Michele Weselake 780 901-4770
Edmonton, October 2, 2015: The average residential price in September for the Edmonton Census Metropolitan Area (CMA) is down less than 1% year-over-year (YoY) despite reported sales being down 6.76%. Single family sales (down 9.72% YoY) and condo sales (down 9.07%) continue to be down over levels reported in September of 2014, while duplex/rowhouses (up 17.21% YoY) buck the trend.
“The strength of prices in the Edmonton market is an excellent indication that we are maintaining stability,” explains Geneva Tetreault, Chair of the REALTORS® Association of Edmonton. “Buyers continue to see the benefits of a healthy inventory but we haven’t seen many sellers dropping prices significantly in order to compete. Last year’s market and its low inventory made buyers feel pressure to jump into an offer if they found something they like. We are seeing buyers take a little more time in the decision making process this year.”
A single family home in the Edmonton Census Metropolitan Area (CMA) sold for an average of $432,150; down 1.75% from August and down 0.98% YoY. The average price for condominiums ($252,953) fell 0.68% over last month and 1.05% over last year. Duplex/rowhouses did well at an average of $364,203 – up 2.76% from the previous month and up 4.28% from 2014. All residential properties sat at $368,874; down 0.91% from August and down 0.75% over September 2014.
“We will likely see prices continue to dip as we move into the colder months. Real Estate in Edmonton has a very seasonal trend and colder months always mean fewer sales. We may see buyers take advantage of this trend and benefit from low interest rates while they still can,” Tetreault says.
All residential active inventory remains healthy with 7,108 properties available at the end of September, down from August by 1.65% but still up over last September by 47.71%.
Average days on market for all residential properties was down this month by 1 over last month sitting at 53. This is up by 8.51% from last year. Single family average days on market was down to 51. Condominiums were averaging 57 days compared to 56 in August, and duplex/rowhouses took an average of 51 days to sell in September.
1. Determine how much you can afford . It is always nice when the bank says some nice number however have you thought of your lifestyle? House poor is not fun. Get a mortgage broker to do what we call a Truer Pre approval. If you have not turned all your paper work in , checked assets , liabilities and score -it is not real. Do yourself a favour be real so you can get that home .
2. Choose your own real estate agent. The good ones will do a consult with you before you look. Do the consult. Then you may both decide if you have a good working relationship. Did you know that driving around calling the listing agent is not always the best for you. Think about it who are they representing? Many think they will get a better deal doing this and often it is the opposite they pay more .
3. Do a Home Inspection .This is not to nickle and dime sellers but to know your house. Usually sellers already know all the homes small deficiencies so you trying to haggle over these does not go well. It is meant to educate you on your new home and if something big comes up too big you can walk.
Michele Weselake Direct 780 901-4770
City of Edmonton Economic Outlook reports ” Very strong employment and income growth seen in Edmonton over the past several years indicates that the local economy has strong internal momentum for continued growth. Robust growth in residential construction, retail sales and personal services sectors will take a more prominent role in Edmonton’s expansion of the next 12 to 24 months. These strong fundamental drivers will help insulate Edmonton’s economy from external shocks that may impact Canada and Alberta. As a result, economic growth in Edmonton will continue to easily outpace Canadian growth over the next several years. Over the next five years economic growth in Edmonton is expected to average 3.6% annually; in the Edmonton Census Metropolitan Area (CMA), 3.9% annually. The combination of relatively low interest rates and modest inflation over the next 12 to 24 months will sustain a very favourable environment for the City of Edmonton to undertake major capital investments. Low interest rates will help contain financing costs while modest inflation will make estimates of final costs for multi-year projects much more reliable.Michele 780 901-4770
EREB reports ” Edmonton, March 3, 2015: Average prices maintained positive growth month over month and year over year in the Edmonton Census Metropolitan Area (CMA) market. The all residential price was up a mere $38 from January (up almost 1 percent from February 2014). Single family houses averaged $430,770..”
For Results for you because it is about you . Contact Michele direct 780 901-4770 . You will be glad you did .
Courtesy and Credit to CBC and EREB reporting …
“Edmonton realtors expect the city’s bullish housing market to continue into 2015 despite dropping oil prices.
Low unemployment and a strong economy will push the values of homes up by four per cent with the average residential price climbing from $374,000 in 2014 to $389,000 in 2015.
With oil selling close to $60 US per barrel many expect the oil industry to slow down, but realtors say that won’t have a large impact on the housing market.
“We’ve got away from being solely dependent on oil in the Edmonton market, with $5 1/2 billion in infrastructure.construction projects going along in the downtown core alone,” said Greg Steele, president of the Realtors Association of Edmonton.” Michele Weselake 780 901-4770
Contact Michele for the Real Inside scoop on the Market and get in now before the Spring Rush so YOU have the edge.