I'm going to change things up a bit...Normally I post a preliminary report on the Edmonton market on the first of each month, and a second report on the greater Edmonton area when the REALTORS® Association of Edmonton releases their stats. From now on I'm just going to publish one report on the 1st of the month, and add the greater Edmonton area stats as an update, when they're released. Hopefully you agree this is a good idea :)

Greater Edmonton Area

In an interesting turn of events, demand is up, supply is down and prices are up on a year over year basis in the Greater Edmonton Area, according to stats released by the REALTORS® Association of Edmonton yesterday.

“2017 has started strong, with an increase in year over year unit sales and prices…

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Winter is best spent drinking hot chocolate and building snowmen, not re-roofing your house. Benoit Gosselin, operating manager at Safe Roofing Edmonton lists three main reasons why you should postpone your re-roofing project until springtime:

  1. Asphalt shingles become brittle when the temperature drops below 10 degrees centigrade. As such, bending, throwing and nailing shingles during delivery and installation may break them, resulting in increased material costs.
  2. Low temperatures will affect the asphaltic sealant’s ability to bond and seal shingles together. Experienced roofers pay close attention to the temperature, humidity and sun exposure when re-roofing a home. They may choose not to re-roof if they believe the current conditions will affect…

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Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 431 (449, 390, 256) # Sales: 159 (134, 124, 97) Ratio: 37% (30%, 32%, 38%) # Price Changes: 260 (204, 205, 142) # Expired/Off Market Listings: 136 (208, 179, 581) Net loss/gain in listings this week: 136 (107, 87, -422) Active single family home listings: 2,325 (2,245, 2,188, 2,149) Active condo listings: 1,952 (1,892, 1,819, 1,751) Homes 4-week running average: $426k ($422k, $420k, $424k) Condos 4-week running average: $232k ($236k, $248k, $247k) The Alberta Real Estate Association put out a very informative report on the real estate market this week, that includes a thorough outlook on 2017, with some interesting…

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Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 449 (390, 256, 74) # Sales: 134 (124, 97, 95) Ratio: 30% (32%, 38%, 128%) # Price Changes: 204 (205, 142, 63) # Expired/Off Market Listings: 208 (179, 581, 131) Net loss/gain in listings this week: 107 (87, -422, -152) Active single family home listings: 2,245 (2,188, 2,149, 2,364) Active condo listings: 1,892 (1,819, 1,751, 1,940) Homes 4-week running average: $422k ($420k, $424k, $418k) Condos 4-week running average: $236k ($248k, $247k, $249k) Have a great weekend!

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Over the years I've been involved in hundreds of sales where parents were helping their kids buy a property, and I've seen that "help" come in many different forms. There are some good ways for parents to help their kids by a home, and some things that should definitely be avoided. So, here are my tips for the best ways for parents to help their kids buy a property:

  1. Don’t make assumptions based on previous experience. The most dangerous thing I see parents do is to make decisions for their kids, based on what worked for them.  Real estate has changed considerably over the years and so have the trends.  Basing an important decision on outdated information could be a major misstep.  When I bought my first property, my dad told me not to buy a condo; at…

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Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 390 (256, 74, 190) # Sales: 124 (97, 95, 180) Ratio: 32% (38%, 128%, 95%) # Price Changes: 205 (142, 63, 122) # Expired/Off Market Listings: 179 (581, 131, 262) Net loss/gain in listings this week: 87 (-422, -152, -252) Active single family home listings: 2,188 (2,149, 2,364, 2,434) Active condo listings: 1,819 (1,751, 1,940, 1,997) Homes 4-week running average: $420k ($424k, $418k, $431k) Condos 4-week running average: $248k ($247k, $249k, $243k) Have a great weekend!  

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What your kitchen looks like will play a major role in how fast you sell your home. An experienced real estate agent will tell you that the kitchen is the first room a potential buyer will look at when they are investigating your home, either online or during a showing. Photo Credit: Gem Cabinets Kitchen renovations also have a very high return on investment compared to other home renovations. According to Remodeling Magazine’s Cost vs. Value Report for 2016, a minor kitchen remodel will recoup over 83 per cent of its initial cost. That means that if you spend $20,000 on a kitchen renovation, you can expect the resale value of your home to increase by nearly $17,000. You don’t have to spend that kind of money to fix up the kitchen, boost your resale…

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Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 256 (74, 190, 213) # Sales: 97 (95, 180, 161) Ratio: 38% (128%, 95%, 76%) # Price Changes: 142 (63, 122, 127) # Expired/Off Market Listings: 581 (131, 262, 238) Net loss/gain in listings this week: -422 (-152, -252, -186) Active single family home listings: 2,149 (2,364, 2,434, 2,544) Active condo listings: 1,751 (1,940, 1,997, 2,070) Homes 4-week running average: $424k ($418k, $431k, $432k) Condos 4-week running average: $247k ($249k, $243k, $235k) It's beginning to look a lot like last year ;) Happy New Year! Have a great weekend!

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Today we're attended the always informative Housing Forecast Seminar put on by the REALTORS® Association of Edmonton. We always get tons of insight on the market and what to expect at the seminar that I'll be sharing here. James Mabey; Chair, REALTORS® Association of Edmonton Single-family home sales were down 5.4% in 2016 compared to 2015, and condos were down 14%. A further decline of 1.7% in single family home sales in 2017 is predicted. Mortgage rates are expected to have minimal impact in 2017. Condo sales are expected to remain stable in 2017. Total residential sales are expected to decrease about 1% in 2017. Single family home sales hot spots were Summerside, Windermere and The Hamptons in Edmonton in 2016 and Westpark in Fort…

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Our preliminary monthly report on the Edmonton real estate market for December shows that we ended 2016 in much the same way we normally do. Sales of single-family homes were right in the normal range for December; 392 homes were reported sold in December, up 3.4% from last year. Condos sales were down slightly from last December; 181 condos were reported sold compared to 184 last year. The average price of single-family homes was down 2.5% from last December to $416,234 while the median price was basically unchanged at $379,900 (it was $380k last year). The average sale price of condos was up 0.9% to $250,358 and the median sale price was down 2.5% to $230,000. The average price per square foot for single-family homes was down $1 to $273 and…

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