Purrfect Properties Blog

Posts Tagged ‘Edmonton Real Estate’

How Does a REALTOR® know it is Spring?

Monday, April 2nd, 2018
How does a REALTOR® know it's Spring?

How does a REALTOR® know it’s Spring?

Her last three deals were all #multipleoffers … lol #yegre #remaxhustle #realtorlife

Remax #YEG Market Share – 2017 Year Totals

Sunday, April 1st, 2018
Remax #YEG Market Share - 2017 Year Totals

Remax #YEG Market Share – 2017 Year Totals

Wondering who you should list or buy your home with?  I hope this chart helps you to make an informed decision.  Do the numbers show a good return on your investment as the Seller or Buyer?  Will you have an experienced Agent?

RE/MAX – 975 Members – 43.75% Total Market Share

Royal Lepage – 346 Members – 10.71% Market Share

Realty Executives – 111 Members – 9.22% Market Share

Century 21 – 317 Members – 7.65% Market Share

Maxwell Realty – 496 Members – 5.54% Market Share

Homes & Garden – 224 Members – 1.98% Market Share

Comfree – 14 Members – 1.97% Market Share

Now Real Estate – 106 Members – 1.72% Market Share

2% Realty – 23 Members – 1.35% Market Share

Coldwell Banker – 40 Members 1.29% Market Share

 

Whether buying or selling your home, you have several decisions to make.

Should you work with a REALTOR®? Which real estate company will provide the best value? Which REALTOR® within that company will be best suited to help you through the process?

We reached out to the RE/MAX Influencers: A panel consisting of RE/MAX Sales Associates from throughout Canada. We asked them: Why should a consumer work with RE/MAX when he/she has so many options out there?

The Brand

Chances are, you would have a hard time finding someone who has never heard of “RE/MAX.” With 100,000 Sales Associates in nearly 100 countries worldwide, the RE/MAX name—along with the iconic balloon—represents a professional organization that has become an industry leader.

RE/MAX also advertises through many mediums, including: Television, print, online and physical signs such as NHL rink boards. This high level of exposure will go to work for you when listing your property. Many RE/MAX Sales Associates are also affiliated with the Children’s Miracle Network; therefore, the sale of a RE/MAX Miracle Home will help support your local children’s hospital. According to ComScore, RE/MAX Canada also leads other real estate brands with its significant traffic to remax.ca.

“In an uncertain market, consumers become less speculative. Instead, they rely on proven brands to reinforce their efforts to manage one of their most important investments. They rely on the experience and expertise that has made RE/MAX one of the most recognizable brands in the real estate world.”

Sales Associates

RE/MAX Sales Associates have the experience to get the job done in today’s market.

The vast majority of our membership are full-time agents who are experts in their local communities. They work hard and are committed to help their clients through the home buying or selling process. *RE/MAX agents sell more real estate than any other Canadian brand.

“RE/MAX is often a collection of the top REALTORS® in any given marketplace. RE/MAX also has an international network: This type of network could be where the buyer of my client’s home comes from.”

Training and Support

RE/MAX supports all of its Sales Associates with comprehensive training and ongoing support.

Our affiliates are highly skilled and educated, and they have the latest tools and technology at their fingertips. They are motivated to put this knowledge and experience to work for you!

*Source: MMR Strategy Group study to RE Buyers & Sellers

Caution: Selling in Winter can be tricky, YEG!

Friday, December 29th, 2017
YEG-Real Estate Market Reports-December 2017

YEG-Real Estate Market Reports-December 2017

Hi Folks,

The holiday season is upon us with lots of cheer and time with loved ones to brighten up the winter time. December always seems to be such a busy time for having guests over and sometimes those visits can lead to a lot of stress. We are pleased to keep you updated on the latest real estate trends and market reports as well as activities for your visiting guests. From entertaining your guests to finding your dream home, it’s my pleasure to help you. Please keep in touch.

With the onset of the winter season, we start to see the seasonal drop off of listings and sales…

Inventory: November finished with another full inventory month here in Edmonton with 6.02 months of inventory for active buyers to choose from.

Total number of homes available to buy in the Greater Edmonton area: 7,030.

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2018 RE/MAX Housing Market Outlook for Canada

Thursday, December 28th, 2017


Summary:
*48% of potential homebuyers plan to purchase in the next 5 years
*Condo demand and prices spikes in Greater Toronto and Vancouver in 2017 while single family home sales and prices dropped in both of these markets
*More lateral move buyers left large urban centers in favour of lower prices and more amenities resulting in substantial price growth particularly outside of Toronto and Vancouver
*Edmonton and Calgary saw stabilizing oil prices boost housing demand and prices

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Just SOLD… how I love the sounds of that

Friday, November 24th, 2017
Californian Manor Condo in Edmonton - Just Sold

Californian Manor Condo in Edmonton – Just Sold

Is the Real Estate Market finally picking up speed in June?

Thursday, June 15th, 2017

EDMONTON HOME SALES REPORT for June 2017

The sun is out, the clouds are gone and summer is finally upon us, a much needed reprieve from winter! Check out our guide for the hottest, most upbeat summertime events that you can’t miss. Check out recent developments in our local real estate market and the latest market reports. As always I am at your call, to help. If you or your clients are looking to buy or sell real estate, please keep me in mind.  Your referral is the best compliment I can receive.

Last May (2016) we had 3,195 new listings come on the market and a total of 8,018 properties for sale.  This May 3,677 new listings appeared for a total of 8,385 homes on market. This is continuing last years trend with an abundance of properties for sale, and 4.53 months of inventory in a Buyers Market.

Last May (2016) a total of 1,906 homes sold in the Edmonton area.  This May 1,853 SOLD.  About the same number of sales.

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Edmonton: How To Bounce Back After a Real Estate Crisis

Thursday, May 4th, 2017

YOURS TRULY and Edmonton, were just featured in an interview by Point2Homes.com. Check out the  interview and what we discussed.

If you’re looking to buy real estate, we advise you to sit down with a passionate agent, for a long talk. The information and perspective you’ll learn is simply invaluable. We did just that, with expert agent Jeanine Osborne (and her gorgeous cat). Read her excellent insights into the Edmonton real estate market, from condominiums to foreclosures, and everything in between.

Expert agent Jeanine Osborne talks Edmonton real estate.

Tell us a few words about your job as a real estate professional? What do you love most about your job?

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Will Less Listings on Market help you to Sell now?

Monday, April 10th, 2017

Edmonton Real Estate Market Reports for March 2017

Spring is finally peeking around the corner after a drawn-out winter and with it comes the promise of sunny afternoons, blooming flowers and a slowly defrosting Real Estate Market.

Now is the time to harness the spirit of spring and tick off items fromt he to-do- list around the house: spring cleaning, taking advantage of renovation sales and freshening up the homes’ vibe.

The weather might not be quite warm enough yet to put on the gardening gloves, but seedlings, yes! Check out some of our ideas on how to bring the benefits of a fresh garden right to your kitchen counter.

The highest compliment you can give me is a referral for your friends and family. Thank you for your referrals!

Don’t forget, REALTOR® services for home buyers is free, so why would you do it on your own?

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Will Selling Your House in Spring help you make a Better Profit?

Tuesday, March 28th, 2017

Edmonton Real Estate Market Reports for March 2017

Spring is here and so is the hot Edmonton Real Estate market.  We have the beginning of warmer and longer days as well as spring cleaning.  Mostly, we are all looking to enjoy our spring break and spring fever…  It’s also a great time for spring house sales.  Does selling in the spring help you make better profits?  Not necessarily and we’ll explain why.

You’ll basically have a 1 in 5 chance of selling in the spring and a 1 in 6 chance of selling in the fall.  So why do folks think Spring is the best time to sell?  I’m not sure, it could have something to do with the fact that REALTORS® are back from holidays and so are sellers.  Folks are looking to get their families moved before the start of the school year and with an average of 5.76 months of inventory with an average of 65 days on market, it’s the best time for families to get moving.

Don’t forget, REALTOR®  services for home buyers is free, so why would you do it on your own?

The highest compliment you can give me is a referral for your friends and family. Thank you for your referrals!

Last February (2016) we had 2,768 new listings come on the market and a total of 6,681 properties for sale.  This February 2,431new listings appeared for a total of 6,108 homes on market, at

5.76 months of inventory.

Last February (2016) a total of 919 of 6,681 homes sold in the Edmonton area.  This February 1,060 of 6,108 SOLD.  Your odds of selling have gotten better!

Average Days on Market – 65, last year we were at 56 days, compared to last year homes are selling 13.65% more slow.

Odds of Selling –17.35%,  compared to last year, your odds of selling increased by 26.30%, compared to last month 22.47% better

Average Selling Price:

     Condo Apartment: $230,661

Condo Townhouse: $348,078

Single Family Dwelling: $427,726 and the

Average selling price in the City of Edmonton is $359,468. Down 0.11% from last year and 0.75% more than 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 32.87% of homes have sold in this price range.

What’s new for our city is where second place is.  With the mortgage changes in October, averages for Edmonton families in loan amounts have dropped, while debts have remained the same, squeezing out both ends of the price ranges.  Last year, more folks were buying in the $400-$499,000 range, but this year it has changed.  Second position goes to the $200,000-$299,999 price range at 23.04%.  Third place is the $400,000-$499,999 and 17.81%.

Luxury Market Positioning: Only 12.89% of Edmonton homes have sold over the $500,000 price bracket.

54 Years average of price increase for the City of Edmonton is 6.73%.

Prices have decreased this year by 3.88%. A small reduction in the average market in Edmonton, in comparison to what is going on in the rest of our province.
*stats as of February 28, 2017.

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.

Why Investing in Homeownership Will Make You a Better Albertan.

Friday, February 24th, 2017

February 24 2017

Homes provide shelter and refuge, but they are also most Albertan homeowners’ single largest investment. Housing represents 47% of total assets for the average Alberta family – much higher than stock market investments and pension plans combined (29%). Why is this important? Homeownership benefits the economy as well as individual homeowners. Let’s look at this in the context of the most recent stats on Alberta’s real estate, reported by the Canadian Real Estate Association.

Investing in housing in Alberta is better than buying stocks

Over the last 18 years, house price appreciation in Alberta has outpaced Toronto stock market returns. Between 1999 and 2016, with average annual residential sales of roughly 57,000, house price growth in Alberta (6.6%) outpaced yearly returns on stocks traded on the Toronto Stock Exchange (6.4%).

Average residential prices up 3.1% in Alberta in January

Total residential sales across the province were up 17.7% year-over-year, totalling 2,679 resale transactions in January 2016. Roughly 3.4 out of every 10 newly listed homes were sold, translating into a sales-to-new listings ratio (SNLR) of 34%. And the average residential sales price rose 3.1%, to $383,040.

Increased home equity = increased net worth

What’s so great about house prices being up? Rising house prices mean homeowners are building equity in their homes. Home equity represents the current market value of the house, minus any remaining mortgage payments. Equity is built over time as the homeowner pays off their mortgage and fluctuates with the market value.

Rising home equity benefits homeowners individually, and the Alberta economy as a whole. By how much? More than $40 billion in 2016.

Calculating Returns to Equity

Using Statistics Canada’s data on Alberta homeowners’ mortgage balances (Surveys of Financial Security), we calculated equity shares by age group. Equity shares multiplied by user costs (average two-bedroom apartment rents used as proxy) provided the income generated (returns to equity) per homeowner, by age class. The annual income generated by homeownership was then derived by multiplying the number of homeowners by age group in Alberta with returns to equity per homeowner.

For those under 35, the income generated by homeownership reached $11,000 a year per homeowner

Over the past five years (2012-2016), the annual income generated by homeownership averaged roughly $57,000 per homeowner (all ages) in Alberta. Returns on equity per homeowner ranged from annual income generation of $11,000 for homeowners under the age of 35 (generally considered as first-time buyers), to roughly $14,000 for those above 65 (annual average).

REALTOR® Tip: First-time buyers build equity in their home as they pay off their mortgage – roughly $11k a year!

Collectively, annual returns on equity (ROE) for all homeowners in Alberta reached roughly 38 billion dollars, or 12% of GDP

Thirty-eight billion dollars a year represents roughly 12% of Alberta’s nominal GDP and 85% of Government of Alberta’s annual revenues. When people build equity in their homes, they borrow against that equity through a home equity loan, or home equity line of credit. An increase in the value of their homes increases the amount of collateral available to households, leading to higher credit. Rising house prices, which imply higher housing equity, may encourage consumers to borrow more, causing a rise in consumer spending. Looking at the data, we know this to be true.

For every $1 rise in housing prices, Albertan homeowners raise their personal spending by 6.7 cents – collectively $5 billion a year

The increase in consumer spending following a rise in in house prices has been referred to as the marginal propensity to consume (MPC) from housing wealth. We found that, for every $1 increase in average residential prices, Albertans raise their personal spending by 6.7 cents, which collectively amounts to roughly $5 billion a year (2012-2016 average).

Five billion dollars a year is 1.5% of provincial GDP, and 11% of government revenues. This is a significant boost to Alberta’s economy. A 3.1% price gain, like the one we just saw in Alberta this January, equals an average increase of $11,420. The associated rise in consumer spending that could come out of that is $868 per homeowner per month, or $10,415 per homeowner per year, or a collective increase of $616 million a year.

 

Regine Durand

Economist

Alberta Real Estate Association