Purrfect Properties Blog

Archive for May, 2016

What is YEG’s Real Estate Market revealing after the fire?

Friday, May 20th, 2016

So much has been going on in this province of ours in the Last couple of weeks.  Poor, young Fort McMurray, what happened is horrible, and it’s outcome has far reaching effects across Canada and the Globe.

Oil and Gas prices have been tanking for awhile now, and a larger majority of the population has been asking to move for the last year or so.  30 percent more than usual in fact.  Yet with all the dump in Oil and Gas profits, Canada saw increasing growth in one of it’s life-savers within an economic ocean; Real Estate. Despite the low toonie, the average price for a Canadian home in US funds hit an all time high. Canadian home sales broke the April high.  The average price for a Vancouver Condominium is $925/ft2. Oh my goodness.

Edmonton is floating in the middle, less expensive than our Vancouver, Calgary and Toronto sisters, and still doing well in it’s own right.  In fact, of the 4,577 homes sold to date this year in Edmonton, only 13.53% are priced over $500,000.

Many rentals in Edmonton have been taken to help house some of the people displaced from Fort McMurray, but almost none are ready to turn around and buy again.  Prices of homes, steadily rise in Edmonton, even after all this, we are only down 1% on our average selling price in Edmonton, not bad for the tanking o&g prices and our latest natural disaster.

At 40 days on market, homes aren’t flying off the shelves in a modest day or two like in 2005, but it’s definitely not hanging around like winter inventory.

As a Seller, you’ll want to know that the Listing absorption rate is only 19.85%.  Meaning another 80.15% of homes listed this month, did not sell, they expired, terminated or just sat on the market for another 30 days. Which means, the est thing i can do is give you tips to sell your home quick.

No question is too small – Contact us today!

Sincerely,

Jeanine

Download your full copy of this months report in pdf version here.

The Sign of a REMAX® Agent in Edmonton.

Wednesday, May 4th, 2016

What’s it like working with a REMAX REALTOR?

Check out this little video…

The sign of a REMAX REALTOR in Edmonton, Alberta.