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Posts Tagged ‘Edmonton Real Estate Market’

Affordable Dual Master Townhouse – For Sale in Callaghan, Edmonton

Thursday, June 29th, 2017
Posted by Jeanine B. Osborne on Thursday, June 29th, 2017 at 5:49pm.

Just Reduced to $269,900!

BUILT FOR COMFORT in LOVELY Callaghan.

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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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REMAX 2017 Spring Market Trends Report

Monday, April 24th, 2017

Toronto buyers, are looking for greater affordability in markets across southern Ontario. In turn, they are driving price appreciation in Mississauga, Brampton, Durham, Barrie, Hamilton-Burlington, Windsor, and as far away as Kingston. The GTA saw the average residential sale price rise by 29 per cent, up from $675,492 in the first quarter of 2016 to $873,631 during the same period in 2017.

At the same time, housing demand has slowed in Greater Vancouver compared to Q1 of 2016, and the average residential sale price decreased 11 per cent year-over-year, from $1,094,936 in the first quarter of 2016 to $969,900 in 2017. The decline in average sale price is in part due to the introduction of the foreign buyer tax last August, a relatively severe winter and the natural stabilization of prices after the market reached a high point in May 2016. Move-over buyers from Vancouver and buyers migrating from other provinces continue to fuel activity in Fraser Valley, Kelowna, and in Victoria, particularly in the upper-end of the market due to relative affordability in these regions.

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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

Will Christmas Decorating help you Sell for More Money?

Monday, December 19th, 2016

Dear Friends,

Are you selling over the Christmas holidays and looking for a way to increase your bottom line?  Christmas staging, mught just be the edge that you need to push past your competitors who are also selling.  I believe the trick has to do much more with how little Christmas staging you do rather than how much.

I like negative space,  we (in our home) even decorated our Christmas Tree using negative theme this year:Christmas Staging while selling your house

I think a Seller can get away with keeping decorations up during the holidays and the more emotion and feeling that your strike in your Buyer the better your chances are of selling.  Beautiful decorations have a beautiful feel and any stager would tell you, it’s in the details with your sale. Get them to feel like they are home in your house and you’ve pretty much made their top 5 list.  The following are some really great examples of homes that I think would sell for more money, using well spaced (negative) Christmas Decorations:

Christmas Staged Home 1

Christmas Staged Home ideas while selling

Note the added opulence feel thriugh the use of added fabrics, Champagne, crystal and warmth with both candles and fire.

Christmas Staged Home 2

Christmas Staged Home while selling

Note how the clean, cold lines of the room are contrasted by the gleaming floors and cozy burning fireplace.

Christmas Staged Home 3

Christmas Staged Home while selling

This is a beautiful example of Christmas in Contrast with an already elegant room.  Sparse decorations were needed, but the overall effect gives you a mossy glow of winter warmth,  Where’s the cranberries on a stick? lol

Christmas Staged Home 4

Christmas Staged Home while selling

Obviously, this one gets us in the feels.

Christmas Staged Home 5:

Christmas Staged Home while selling

We are a few days away from the holidays and closing the exciting year of 2016.  We hope you enjoy the holidays with your loved ones and take this time to be grateful for all the blessings we have received this year. And now for the reports:

Edmonton Real Estate Market Reports December 2016

*stats as of November 31, 2016

We are  continuing this years trend with an abundance of properties for sale, folks wanting to move, and 6.64 months of inventory in a Buyers Market. This November 1,825 new listings appeared for a total of 6,493 HOMES ON MARKET.  Last November (2015) we had 1,919 new listings come on the market and a total of 6,043 properties for sale.

This November 978 SOLD.  Last November (2015) a total of 1,162 homes sold in the Edmonton area. Compared to last year there are about 4.9% less listings to compete with.

The average SOLD price in the City of Edmonton is $373,174

Up 1.11% from last year and up 2.31% from last month.

0.64% of Homes in Edmonton Sell over the $1,000,000 Price Range.

Average Days on Market – 63 … last year 58

Odds of Selling -15.06% 978 out of 6,493 listed, down 21.48% from last year, down 19.98% from last month

Average Selling Price:

     Condo Apartment: $241,569

     Condo Townhouse: $353,818

     Single Family Dwelling: $440,496 and the

Home Sales by Price Range: 34.38% of homes sold in this price range of $300,000-$399,999.

20% of Homes sell in the price ranges on both ends of the first.

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

Prices have gone up for this year by 0.32%.

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

As always, we are here to support you with whatever real estate concerns or needs you have.  Yoru referrals are always welcome and appreciated.

Merry Christmas,

Jeanine

Will the Foreign Investor Tax Help You Buy Property?

Wednesday, November 23rd, 2016

If you’ve been watching the headlines, you’ll know that there is a lot of frustration with regards to two large Real Estate Markets in Canada.  One is Vancouver and the other is Toronto.  Recently the BC Government introduced a 15% Foreign Investor tax on property purchasers in B.C.  Christy Clark can be heard saying ‘that is the impact we wanted to have.’  To cool their Red Hot real estate market and that’s just what they did. According to data released by the B.C. government, billions of dollars in Metro Vancouver real estate deals dried up and almost overnight.

In fact, on the last day before the changes came into effect, 55% of all purchases were done so by foreign investors.  Probably some good, but most likely moreso just more buyers to add frustration into an already highly overinflated market area, where the regular Canadian cannot afford to buy a home. Instead, these homes sit vacant and derelict, causing rental and property prices to rise. It’s great what B.C. did, but did you know that China took action against B.C. and their politics first?  That’s right, China said they were going to come to Canada and sue to get their money back.  It is unprecedented and has been put forth to show an example to their own citizens.

The Chinese plaintiffs are asking B.C. judges to enforce monetary judgments awarded in Chinese courts. These Chinese rulings typically involve people found in China to have defrauded Chinese banks or business partners and then fled to Canada with the money and invested in real estate here. Billions of dollars of bank faud proceeds are alleged to be invested in BC, while Lawyers in Vancouver say they are seeing a substantial increase in B.C. court cases filed by Chinese companies seeking to seize real estate assets from Chinese immigrants in B.C.

Perhaps B.C. didn’t want all the attention they were getting, as they decided to help China and Canadians out by adding another tax to your total when buying in B.C.  The Greater Vancouver Real Estate Board revealed the number of homes being sold had dropped significantly and prices had stalled since it came into effect.  See below:

In the end, China coming in to sue for recovery of money will show some foreign investors that if they would like to own property in Canada, they should do it with their own money.  A wee ocean isn’t that much to cross to get back a few million.  The changes to mortgage loan values, as well as the vacancy tax starting in January for Vancouver, all help Canadians such as you and I buy and keep our properties.  Canadians who had to work for their millions and mansions. Right on China, Right on B.C.

Now that’s the Cats’ Meow in Real Estate.

The bottom line shows a seasonal down shift of the market.

Wednesday, November 9th, 2016

Edmonton Real Estate Market Reports for November 2016

It’s amazing how the year is almost ending and the holiday season is just a month away.  These days we are kept busy with our winter and early holiday preparation. The real estate market is also experiencing a lot of movement and changes with the governments announcement of the new motgage rules on October 3rd.  We recommend you read our next blog on these recent changes in order to better understand where you stand in the market today.

We remember on November 11, 2016.

The highest compliment you can give me is to recommend me to your friends and family who might be needing some real estate help. Thank you for your referrals!

EDMONTON MARKET REPORT for November

*stats as of October 31, 2016

Last October (2015) we had 2,272 new listings come on the market and a total of 6,641 properties for sale.  This October 2,147 new listings appeared for a total of 7,215 homes on market. This is continuing last years trend with an abundance of properties for sale, and 5.70 months of inventory.

Last October (2015) a total of 1,284 homes sold in the Edmonton area.  This October 1,265 SOLD.  About the same number of sales.

Average Days on Market – 61, last year we were at 56 days, compared to last year homes are selling 8.20% more slow

Odds of Selling -17.53%,  1,265 out of 7,215 listed, down 9.12% from last year, down 5.32% from last month

Average Selling Price:

     Condo Apartment: $245,698

     Condo Townhouse: $332,565

     Single Family Dwelling: $432,755 and the

Average selling price in the City of Edmonton is $364,004.

Down 6.4% from last year and 2.48% less 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 34.37% of homes have sold in this price range. Second position goes to the $400,000-$499,999 price range at 20.40%.  Third place is the $200,000-$299,999 and 20.39%. These haven’t changed very much from month to month as this works in with Edmonton average earnings per family.  It may soon drop a bit with the recent changes to mortgage rules.

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

Prices have gone up for this year by 0.32%. 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.

Edmonton Real Estate Market Reports November 2016