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Alberta Real Estate Market Reports – June 2016

Thursday, July 28th, 2016
Alberta home sales down year-over-year in June

The Alberta Real Estate Association (AREA) reports that a total of 6,059 residential unit sales were recorded through the MLS® Systems of real estate Boards/Associations in Alberta in June, down 9.2 per cent from the same month last year.

The average MLS® residential price decreased 1.4 per cent from June 2015 to $397,269.

 

Two of Alberta’s real estate Boards/Associations saw an increase in monthly residential average prices from year-ago levels:

Board Year-Over-Year Change Year-to-Date Change
Lethbridge Region +2.0 per cent -0.9 per cent
Calgary Region +0.2 per cent +1.0 per cent

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

Board Year-over-Year Change Year-to-Date Change
Edmonton Region -0.6 per cent -0.8 per cent
Lloydminster Region (AB Only) -2.0 per cent -6.2 per cent
Grande Prairie Region -4.5 per cent -6.1 per cent
Medicine Hat Region -5.2 per cent -5.3 per cent
Central Alberta -5.3 per cent -3.8 per cent
Alberta West -9.7 per cent -1.7 per cent
Fort McMurray Region -19.8 per cent -17.0 per cent
South Central Alberta -32.3 per cent -18.4 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 $2.41 billion for the month, falling 10.5 per cent from June 2015.

 

There were 4.9 months of inventory at the end of June 2016, up from 4.0 months at the same time one year ago.

 

New listings on the MLS® Systems of real estate boards in Alberta numbered 10,349 units in June, a decrease of 4.4 per cent from a year earlier, while active residential listings numbered 29,432 units at the end of June, up 11.5 per cent from one year earlier.

Click here for the full release, including a breakdown of information by area. 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®.

Edmonton Real Estate Market Reports for July 2016

Friday, July 15th, 2016

Edmonton Real Estate Market Reports for July 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.

Edmonton Listings continue to Surge, Bargain Sales now Timely.

Thursday, January 14th, 2016

Hi Folks,

Welcome back from holidays! Did you create some resolutions for yourself?  Each year, throughout the holidays I take the time to write down my goals for the upcoming year.  They generally alwas include some sort of exercise, and mental conditioning as well. For the first time in my history; I am actually considering a new type of resolution; to love myself just as I am, no changes.  Wouldn’t that be the Cats’ Meow?  To love yourself, exactly the way you are.  Consider it, I know I am.  While some folks are considering what kind of goals or resolutions they wish to set for themselves, others are moving confidently in the direction of their dreams.  A lot of Edmontonians were looking to change homes in 2015 and the trend is set to continue in 2016.

If you, your friends or family are looking to buy or sell Real Estate, please keep me in mind.  Your referral is the best compliment I can receive; other than the Miss Universe crown. lol

And now the stats:

Last December (2014) we had 3,059 listings for sale.  December of 2015 ended with a total of 5,088 properties for sale in the Greater Edmonton area.  Far too many properties than what is being bought up and the result is a Buyers Market.  This is the strongest buyers market that I have seen in a few years, at 7.14 months of inventory. Last month we only had 5.47 months of inventory and it was still a Buyers Market.

Last December (2014) a total of 1,165 homes sold in the Edmonton area.  This December 713 sold.  About the same number of sales.

Last November (2014) a total of 1,416 new listings came on the market, this year 1,914 new listings arrived.  Compared to last year there are 35% more new listings, and I predict new listings are going to keep high in numbers all through 2016.

Average Days on Market – 62, down 11.3% from last year

Odds of Selling – 713 out of 5,088 listed, down 46.49% from last year

Average Selling Price:

Condo: $248,956, down 2.2% from last month and up 1.5% from last year.

Townhouse: $374,217, up 5.3% from last year and 10.7% more than last month.

Single Family Dwelling: $424,629, down 1.2% from last year and 1.2% from last month and the

Average selling price in the City of Edmonton is $366,221, up 2.3% from last year and down 2.2% 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 34.15% of homes have sold in this price range. Second position goes to the $400,000-$499,999 price range at 20.53%.  Third place is the $200,000-$299,999 and 20.28%. These haven’t changed very much from month to month as this works in with Edmonton average earnings per family.

54 Years average of price increase for the City of Edmonton is 6.98%.

Prices have not gone down in Edmonton since 2011, when we saw a decrease of 1.40%. Prices are up by 1.49% this year.

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

Cheers,  Jeanine

Edmonton Sees Strong Results from a Sturdy and Stable Market

Thursday, December 17th, 2015

Merry Christmas, Happy Holidays and soon, a Happy New Year to You All.

What a year this has been.

Rewind your mind to a year ago; Alberta has changed so much and yet stayed the same.  The NDP’s, the Liberals, the tax changes, new mortgage rules, property tax increases and changes in municipal, provincial and federal expenditures.  Edmonton has seen a lot of changes this year and so have its’ residents.  The overall feeling shows movement.  This was the year of listings.  All year, we’ve talked about more homes being on the market than we are used to.  Almost double in fact.  Last December (2014) we had 3,059 listings for sale.  Right now, there are 6,043.  People want to move, they want to change, perhaps they want to spread their wings and their horizons just a wee bit more.

Last November (2014) a total of 1,236 homes sold in the Edmonton area.  This November 1,104 sold.  Not that much of a difference.  Modest gains overall at 1.59% for the year, but they are gains during a time when not every City in Alberta can say the same.

Last November (2014) a total of 1,416 new listings came on the market, this year 1,914 new listings arrived.  Compared to last year there are 35% more new listings, and I predict new listings are going to keep high in numbers all through 2016.

Average Days on Market – 59, down 8.5% from last year

Odds of Selling – 1,104 out of 6,043 listed, down 41.95% from last year

Average Selling Price:

Condo: $253,618

Townhouse: $339,454

Single Family Dwelling: $432,82 and the

Average selling price in the City of Edmonton is $369,559

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 34.01% of homes have sold in this price range. Second position goes to the $400,000-$499,999 price range at 20.70%.  Third place is the $200,000-$299,999 and 20.18%. These haven’t changed very much from month to month as this works in with Edmonton average earnings per family.

54 Years average of price increase for the City of Edmonton is 6.98%.

Prices have not gone down in Edmonton since 2011, when we saw a decrease of 1.40%. Prices are up by 1.59% this year.

Talk to a professional today, and get help with your move.

Cheers,  Jeanine

Edmonton Real Estate Trends point to the Cool of the Season – November 2015

Tuesday, November 10th, 2015

Hi there Folks,

As we gather with our loved ones at Remembrance Day, Canadians are reminded of the sacrifices our courageous men and women made for the entire country and our people.  Our thoughts turn to protection of our fathers, brothers, sisters and mothers and we are reminded that life whispers to us to live it in freedom, to live with introspection and to protect those around us.  We are reminded of the months ahead, of the changes that are necessary to make now to get us safely through the winter without harm.  The grass crunches underfoot with the morning frost, the last of the leaves gently fall and we are reminded to source out our winter tires.  Just as the cool of the season keep dropping, so do the number of listings and we are left in a calm and stable market here in Edmonton.

If you, your friends or family are looking to buy or sell real estate, please keep me in mind.  Your referral is the best compliment I can receive.  Check out what is going on in the Edmonton Real Estate Market through the following indicators:

Inventory: October finished with less listings and we definitely had the room for less.  6,641 homes were for sale throughout our Greater Edmonton Market Area. 2,272 properties were newly listed for Sale in October of 2015, with 18.2% less new listings than the previous month.  There are 10.6% more homes listed for sale in Edmonton this year than last               

Total sales for October 2015: 1,199 or 18%.

Days on Market:  The average being 57 Days on Market, here in Edmonton, same dom’s as the previous month and up a few days from 51 dom’s the previous year. Compared to September, homes are selling 10% slower and 7.0% more slow than the previous year.

Odds of Selling: You have a less than 1 in 5 chance of selling your home in the next 30 days. Your chances of selling have decreased by 45.9% from last year and 16.8% less from last month.  Be careful with your offers, negotiations work best in these kind of markets.

Average Selling Price: Condo: $244,225 Townhouse: $359,130, Single Family Dwelling: $438,935 and the average selling price across the City of Edmonton is $371,756. The average cost for houses increased, while condo and Townhouses dropped by about $5,000.

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 month 34.01% of homes sold in this price range. Second position goes to the $400,000-$499,999 price range at 20.83%.  Third place is the $200,000-$299,999 and 20.02%. These haven’t changed very much from month to month as this works in with Edmonton average earnings per family.

54 Years average of price increase for the City of Edmonton is 6.99%.

Prices have not gone down in Edmonton since 2011, when we saw a decrease of 1.41%. Prices are up by 1.72% this year.

780 916 9739  … Now that’s the Cats’ Meow

 

Thanks for stopping by!

What Happens to the Edmonton Real Estate Market in Fall?

Friday, October 9th, 2015

Hi Folks,

The leaves are turning such beautiful colors these days.  In particular every time I cross the river and am able to look out over the River Valley, I can’t help but think of the beauty of the season in Edmonton.  The leaves aren’t the only things that change in the Fall season.  Real Estate has its’ own changes for this time of year.  This time brings a drop off in the number of listings.  Those people that weren’t truly committed to their own purchase or sale this year, start to drop off with the leaves, and we are left with those that want to buy and sell and change their personal circumstances; mostly starting with their address.

Check out what’s going on in the Edmonton Real Estate Market in October of 2015, through these Market indicators below:

Inventory: September finished with a lot of listings.  In fact 7,108 homes were for sale throughout our Greater Edmonton Market Area. 2,777 properties were newly listed for Sale in September of 2015, with 5% less new listings than the previous month.  We’re still topping the charts with 26.7% more homes listed for sale in Edmonton this year than last.                

Total sales for September 2015: 1,462 or 21%.

Days on Market:  The average being 53 Days on Market, here in Edmonton, a day down from 54 dom’s the previous month and 49 dom’s the previous year. Compared to August, homes are selling 1.9% faster and 7.5% more slow than the previous year.

Odds of Selling: You still have a 1 in 5 chance of selling your home in the next 30 days. IYour chances of selling have decreased by 40% from last year and 4.85% less from last month.  Be careful with your offers, negotiations work best in these kind of markets.

Average Selling Price: Condo: $252,953 Townhouse: $364,203, Single Family Dwelling: $432,150 and the average selling price across the City of Edmonton is $368,874.

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 month 34.07% of homes sold in this price range. Second position goes to the $400,000-$499,999 price range at 20.98%.  Third place is the $200,000-$299,999 and 19.96%. These haven’t changed very much from month to month as this works in with Edmonton average earnings per family.

54 Years average of price increase for the City of Edmonton is 6.99%.

Prices have not gone down in Edmonton since 2011, when we saw a decrease of 1.41%. Prices are up by 1.75% this year.

If you, your friends or family are thinking of moving, please keep me in mind, your referral is the best compliment I can recieve.

780 916 9739  … Now that’s the Cats’ Meow

Edmonton Sellers see Limited Results in August due to a Full House.

Sunday, September 13th, 2015

Hi Folks,

With summer fast becoming a distant memory, and as the leaves begin to change, autumn tends to be a season of transition. At 4.93 Months of inventory, we’re still in a Buyers market here in Edmonton. If you are thinking about making the transition from your current home to the next, check out some of the valuable information included here so you can make a wise decision for your future.

Inventory: August finished with another full inventory month here in Edmonton. 2,926 properties were newly listed for Sale in August 2015, with only 6% less new listings than the previous month.  Yet, there is 25.9% more homes listed for sale in Edmonton this year than last. That’s the kicker, 25% more properties have flooded the real estate market in Edmonton.

Total number of homes available to buy in Edmonton: 7,227                     

Total sales for September 2015: 1,465.

Days on Market: Compared to July of 2015, homes are selling 7.4% slower and 9.3% more slow than the previous year. The average being 54 Days on Market, here in Edmonton, up from 50 dom’s the previous month and 49 dom’s the previous year.

Odds of Selling: You basically have a 1 in 5 chance of selling your home in the next 30 days. In fact, you have a 20.27% chance of selling, especially if you are already listed for sale. lol. Your chances of selling have decreased by 36% over last year and 24% from last month.  Not the best news.

Average Selling Price: Condo: $254,672 Townhouse: $354,409, Single Family Dwelling: $439,828 and the average selling price across the City of Edmonton is $372,256.

Home sales by Price Range: The highest percentage of properties are selling in the $300,000-$399,999 price range at 33.83%. Second position goes to the $400,000-$499,999 price range at 21.24%.  Third place is the $200,000-$299,999 and 19.96%. These haven’t changed very much from month to month as this works in with Edmonton average earnings per family.

54 Years average of price increase for the City of Edmonton is 6.99%.

Prices have not gone down in Edmonton since 2011, when we saw a decrease of 1.41%. Prices are up by 1.96% this year.

If you, your friends or family are thinking of moving, please keep me in mind, your referral is the best compliment I can recieve.

780 916 9739  … Now that’s the Cats’ Meow

How much are Home Prices going up across Canada?

Tuesday, July 8th, 2014

The national average for residential property creeps up.

The number of houses sold in May increased 5.9 per cent over the previous month, according to Canadian Real Estate Association data. The national average price climbed to $401,887 an increase of 0.8 per cent from April.

RE/MAX Housing Market Outlook 2013 with the Cats Meow

Thursday, November 15th, 2012