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YEG-Real Estate Market Reports-January-2018

Tuesday, January 23rd, 2018

Dear Friends,

I hope you are feeling refreshed, revived and ready to face 2018.  January is full of resolutions and promises but don’t be too hard on yourself.  Make time to pamper yourself between all the commitments.  This month there are some tricks for creating the perfect relaxation space right at home. Should you wish to get out of the house, look no further than our list of events happening around Edmonton this month.  To keep you up to date in the world of Real Estate, included are the latest market reports to make sure you didn’t miss anything during the holiday crunch.

And now for this months report:

YEG-Real Estate Market Reports-January-2018

YEG-Real Estate Market Reports-January-2018

 

Inventory: December finished with another full inventory and buyers market month here in Edmonton with 6.30 months of inventory for active buyers to choose from.

Total number of homes available to buy in the Greater Edmonton area: 5,736

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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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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.

Alberta Real Estate Market Reports – January 2017 Edition

Wednesday, January 25th, 2017

Click here for the full monthly report, including additional details on the outlook for Alberta’s housing market in 2017.

I. Alberta MLS® Trends

A total of 2,612 Alberta residential unit sales were recorded through the MLS® Systems of real estate Boards/Associations in December, rising 3.2 per cent from the same month last year. The average MLS® residential price in Alberta rose to $395,694, an increase of 1.6 per cent from December 2015.

Only the Calgary Real Estate Board saw an increase in monthly residential average prices from year-ago levels, while the remaining nine Boards/Associations saw decreases of varying degrees (see chart below for detailed information).

The value of all home sales in the province totalled $1.03 billion in December, rising 4.8 per cent from last year. New listings numbered 3,568 units for the month, a decrease of 21.7 per cent from a year earlier, while active residential listings numbered 20,244 units, up 0.9 per cent from one year ago. There were 7.8 months of inventory at the end of the month, little changed from 7.9 months in December 2015.

II. Alberta Sales Outlook for 2017

Read more of the Alberta sales outlook for 2017 in the full report.

Summary

In Alberta, movements in residential sales over the past 20 years have been driven primarily by changes in house prices and in mortgage payments (income channel). As shown in Table 1, over the 1997-2016 period, house prices have risen two times faster than residential sales in Alberta. The average price growth for that period was 6.55 per cent compared with average sales growth of three per cent (averages of monthly values). Looking at the simultaneous growth in these two, we can estimate the change in sales with regard to changes in house prices. This is done by dividing the year-over-year change in sales by the year-over-year change in prices. The result is shown in column 6 of Table 1 and represents the price-elasticity of demand.

In Alberta, on average this price-elasticity has been positive and hovered around 6.8 over the past 20 years. What that means is, for every one per cent increase in house prices, sales increased by roughly seven per cent. This might look counter-intuitive because classical demand analysis expects a negative relation between a product price and demand for the product. But, as an investment good, higher home prices mean higher returns on housing investment. Rising house prices may prompt more home sales thus leading to a positive co-movement between sales and prices. Indeed, houses are not only consumption goods, but also assets. Homebuyers buy houses both as consumers and investors. Case and Shiller (1998) for instance, based on a survey, reports that 44 to 64 per cent of homebuyers considered the purchase of a house as an investment.  In Chart 1, the correlation between sales growth (green line) and price growth (red line) is almost perfect: the two mirror each other, displaying a positive co-movement.

Outlook for 2017

We expect residential sales in Alberta to decline by roughly 2.38 per cent in 2017: to 50,927 transactions in 2017 from 52,169 transactions in 2016. This is based on two factors: the price depreciation expected for 2017, and the price-elasticity of sales over the last 20 years. Currently, we expect to see a 0.35 per cent price decline in 2017 (read more about this in the full report). Given the strong response of sales following changes in prices, we added to the picture the weight of a price-elasticity of 6.8 (1997-2016 average).  If we were to consider most recent price-elasticities of sales, like those seen over the last five years (value for the 2012-2016 period in table 1), we could easily be looking at a 6.8 per cent reduction in residential sales in 2017 (table 1). What that means is that only 48,621 existing homes would change hands in Alberta in 2017, compared with 52,169 in 2016.

III. Economic Drivers of Alberta House Prices
IV. The Price-Rent Ratio, Over-Under Valuation and Price Outlook for 2017

Read more in the full report

V. Board/Association Statistics

VI. Alberta Charts

Residential Sales – Current levels are comparable to the years 2010-2012, but remain down from the historical highs in 2013 and 2014.

Residential Average Price – The current residential price for Alberta remains in line with those since 2013, while increasing slightly in December 2016 from one year ago.

Month-over-Month Average Price – Month-to-month average prices have remained fairly consistent in 2016, with the exception of January, typically the lowest volume month with the lowest sale price.

Residential Dollar Volume – Similar to sales numbers, the total dollar volume of sales in Alberta is comparable to the 2010-2012 timeframe, well below the historical highs in 2013 and 2014.

Months of Inventory – Months of inventory were relatively unchanged in December when compared to the same month one year ago. The annual trend follows historical value, with months of inventory rising in the traditionally slower fall and winter months, before decreasing again in the busier spring and summer timeframe.

Note: The data in the charts is national data and may not perfectly reflect the data reported by a Board/Association. The data includes all activity recorded for a board’s area, e.g. Calgary includes all sales recorded by CREB®, not just the Calgary metropolitan area. For more specific information, please contact your local board/association. Click here for a guideline of Board/Association boundaries

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) represents more than 10,000 REALTORS® and 10 real estate Boards/Associations province-wide. AREA’s vision is to provide world-class leadership that positively shapes the Alberta real estate profession, enhances member professionalism, and reinforces the critical value REALTORS® deliver to both buyers and sellers.

For more information, please contact AREA Communications at communications@areahub.ca or by phone at 1.800.661.0231.

Alberta Real Estate Association
Suite 300, 4954 Richard Road SW
Calgary, AB T3E 6L1
communications@areahub.ca
www.areahub.ca

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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

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

Edmonton Real Estate Market Reports for October 2016

Thursday, October 27th, 2016

Edmonton Real Estate Market Reports for October 2016

Autumn is upon us which means that winter is soon coming.  Let’s enjoy these last few weeks of harvest and pumpkins, hot apple cider and cinnamon.  As you prepare for Halloween festivites, don’t forget to start winter-proofing your home.

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

EDMONTON MARKET REPORT for October

*stats as of September 30, 2016

Last September (2015) we had 2,747 new listings come on the market and a total of 7,108 properties for sale.  This September 2,739 new listings appeared for a total of 7,857 homes on market. This is continuing last years trend with an abundance of properties for sale, and folks looking to move around at 5.87 months of inventory.

Last September (2015) a total of 1,543 homes sold in the Edmonton area.  This September 1,339 SOLD.  About the same number of sales.

Average Days on Market – 57, last year we were at 54 days, a decrease of 5.26%

Odds of Selling – 1,339 out of 7,857 listed, down 21.28% from last year, down 11.92% from last month

Average Selling Price:

     Condo Apartment: $251,365

     Condo Townhouse: $360,338

     Single Family Dwelling: $430,461and the

Average selling price in the City of Edmonton is $373,926, up 1.53% from last year and up 1.20% from 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 34.27% of homes have sold in this price range. Second position goes to the $400,000-$499,999 price range at 20.59%.  Third place is the $200,000-$299,999 and 20.36%. 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 0.59%. 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.

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