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Archive for September, 2016

Alberta Real Estate Market Reports – September 2016

Tuesday, September 27th, 2016

Alberta Real Estate Market Reports – September 2016

Alberta home sales edge down year-over-year in August

The Alberta Real Estate Association (AREA) compiles provincial MLS® sales data for dissemination to REALTORS® and other interested groups. The data that is provided represents statistics provided to AREA by way of the Canadian Real Estate Association (CREA). For more detailed statistical information for Boards/Associations or for individual areas, contact your local real estate Board/Association or your local REALTOR®.

The Alberta Real Estate Association (AREA) reports that a total of 4,927 residential unit sales were recorded through the MLS® Systems of real estate Boards/Associations in Alberta in August, down 4 per cent from the same month last year. This was the smallest year-over-year decline since December 2014.

The average MLS® residential price edged up 0.5 per cent from August 2015 to $390,615.

Three of Alberta’s real estate Boards/Associations saw an increase in monthly residential average prices from year-ago levels, while the Edmonton region average price was unchanged:

Board Year-Over-Year Change Year-to-Date Change
Alberta West +16.8 per cent -0.9 per cent
Lloydminster Region (AB Only) +2.5 per cent -4.1 per cent
Calgary Region +1.4 per cent +1.2 per cent
Edmonton Region 0.0 per cent -0.2 per cent

The remaining six Boards/Associations saw the monthly residential average price decrease to varying degrees from August 2015:

Board Year-over-Year Change Year-to-Date Change
Lethbridge Region -2.1 per cent +0.3 per cent
Grande Prairie Region -4.8 per cent -6.0 per cent
Central Alberta -6.4 per cent -4.0 per cent
Fort McMurray Region -7.0 per cent -13.3 per cent
Medicine Hat Region -7.1 per cent -5.4 per cent
South Central Alberta -11.7 per cent -15.4 per cent

Note: The data above is national data and may not perfectly reflect the data reported by a Board/Association. The numbers represented are for the full Board/Association region, rather than city/town proper areas that may be reflected in a board’s name. Click here for a general guideline of Board/Association boundaries.

The value of all home sales in the province totalled $1.92 billion for the month, falling 3.5 per cent from August 2015.

There were 5.9 months of inventory at the end of August 2016, up from 5.2 months at the same time one year ago.

New listings on the MLS® Systems of real estate boards in Alberta numbered 9,433 units in August, an increase of 0.9 per cent from a year earlier, while active residential listings numbered 28,959 units at the end of August, up 9.2 per cent from one year earlier.

 

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The Spotlight is on Fall as Edmontons listings’ are Reduced.

Monday, September 26th, 2016

Edmonton Real Estate Market Reports for September 2016

School is in and as the kids focus on their studies, the business world wakes up and the Real Estate market resumes back after the last of summer holidays.  That is the serious folks anyways.  Now is the time where we start to see the listings drop off and the less motivated sellers exit the market.  If you’ve been thinking of selling, now is a great time to get into the market.  Interest rates are the lowest they’ve been and that makes for some interesting shifts in housing. We’ll help you get there. Join our monthly mailing list, send us a quick hello or give us a call and ask your questions.  We’d love to help you.

Don’t forget to mention anyone who needs real estate help.  We are here and we love your referrals.

Judge for yourself, don’t listen to the news!

Last August (2015) we had 2,930 new listings come on the market and a total of 7,227 properties for sale.  This August  2,747 new listings appeared for a total of 7,908 on market. This is continuing last years trend with an abundance of properties for sale, and folks looking to move around at 5.52 months of inventory.

Last August (2015) a total of 1,555 homes sold in the Edmonton area.  This August 1,433 sold.  About the same number of sales.

Average Days on Market – 55, the same as last year, up 1.8% from last month which had 56 DOM

Odds of Selling – 1,433 out of 7,908 listed, down 15.57% from last year, down 11.83% from last month

Average Selling Price:

     Condo Apartment: $251,526, down 3.41% from last month anddown 1.12% from last year.

     Condo Townhouse: $344,337, down 2.02% from last year and 0.36% less than last month.

     Single Family Dwelling: $434,362, down 0.80% from last year and down 3.21% from last month and the

Average selling price in the City of Edmonton is $369,956, down 0.05% from last year and down 3.62% last month.

Home Sales by Price Range: The highest percentage of properties are and have the tendency in Edmonton to sell in the $300,000-$399,999 price range, and this year 34.03% of homes have sold in this price range. Second position goes to the $400,000-$499,999 price range at 20.82%.  Third place is the $200,000-$299,999 and 20.62%. These haven’t changed very much from month to month as this works in with Edmonton average earnings per family.

53 Years average of price increase for the City of Edmonton is 6.86%.

Prices have gone up for this year by 0.62%. A small reduction in the high end luxury market in Edmonton, in comparison to what is going on in the rest of our province.

Want market information about listings in your area or a free market anaylsis for your home?  Sign up here.

To download your full copy of this report – click here.

Cheers and chat soon,  Jeanine