The REALTORS® Association of Edmonton released their report on the Greater Edmonton Area real estate market for March this week saying:

“We generally see housing market activity increase at this time of year,” says Darcy Torhjelm, REALTORS® Association of Edmonton Chair. “Despite the year over year decreases, the market is still growing relative to February 2018 in preparation for the spring buying season. Market growth should continue in the coming months.”

One part of the market has certainly gained activity, and that's listings. New listings were up 12% over last year and end of month inventory was up 17% over last year, while sales were down 12%. Last year at this time we were at a 48% listing to sales ratio with 4.6 months of inventory, this year…

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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: 594 (606, 587, 557) # Sales: 239 (230, 210, 260) Ratio: 40% (38%, 36%, 47%) # Price Changes: 342 (306, 339, 285) # Expired/Off Market Listings: 141 (171, 173, 172) Net loss/gain in listings this week: 214 (205, 204, 125) Active single family home listings: 3341 (3242, 3097, 2949) Active condo listings: 2554 (2444, 2346, 2269) Homes 4-week running average: $438k ($431k, $425k, $429k) Condos 4-week running average: $233k ($235k, $238k, $239k) Looks like luxury sales are picking up - there were 13 sales over $1million in the past 30 days, including 3 over $2million. Monthly stats coming on Sunday so I'll leave it at…

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A recent B.C. Supreme Court case favoured the buyer, who backed out a deal to purchase a mansion in Vancouver. She claimed she was misled by the seller and their agent when she asked why the seller was moving. Their answer was that the seller's daughter was switching schools. What they neglected to include in their answer, was the fact that she was forced to switch schools because of bad press surrounding the murder of her father, which took place on the property. Her father was allegedly a leader of the notorious "Big Circle Boys," a gang with roots in China. The buyer heard rumours about the murder after she removed conditions (back in 2009), and a simple Google search revealed the gruesome details. This story comes as welcome news to thousands of…

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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: 606 (587, 557, 665) # Sales: 230 (210, 260, 238) Ratio: 38% (36%, 47%, 36%) # Price Changes: 306 (339, 285, 281) # Expired/Off Market Listings: 171 (173, 172, 364) Net loss/gain in listings this week: 205 (204, 125, 63) Active single family home listings: 3242 (3097, 2949, 2860) Active condo listings: 2444 (2346, 2269, 2207) Homes 4-week running average: $431k ($425k, $429k, $438k) Condos 4-week running average: $235k ($238k, $239k, $237k) Have a great weekend!

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Higher mortgage rates don't just impact people in the market, for the first time in quite awhile, homeowners that need to renew their mortgages are looking at significantly higher rates than what they've been paying for the past five years. According to this Globe and Mail article, those who bought a house 5 years ago and chose the most popular 5-year mortgage will see their rates increase from their current rate of approximately 2.44%-2.74% to the new rate around 3.19-3.59%. I asked Gord McCallum, the founder and CEO of First Foundation, an Edmonton Mortgage Broker for his thoughts: "One of the challenges facing existing homeowners may be obtaining the best financing at renewal. As a result of the new mortgage stress test, (which requires borrowers…

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According to an article in the Edmonton Journal, 140 residents in homesteader received notices from the Government of Alberta warning about soil and groundwater contamination, with a “laundry list of cancer-causing substances.” The notices were posted on doors of homes in a new development called Renaissance Estates just north of Yellowhead Trail near 44th street, where a wood-preserving plant called Domtar was once located.

In a concurrent article titled “Residents of Former Domtar unsure what to make of contamination news" a homeowner is quoted as asking: “what happens to my property value in Homesteader?” No one gave an answer in the article, so here is ours...

While it's impossible to speculate on the future value of the properties there, I can…

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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: 587 (557, 665, 457) # Sales: 210 (260, 238, 189) Ratio: 36% (47%, 36%, 41%) # Price Changes: 339 (285, 281, 206) # Expired/Off Market Listings: 173 (172, 364, 178) Net loss/gain in listings this week: 204 (125, 63, 90) Active single family home listings: 3097 (2949, 2860, 2778) Active condo listings: 2346 (2269, 2207, 2222) Homes 4-week running average: $425k ($429k, $438k, $444k) Condos 4-week running average: $238k ($239k, $237k, $235k) Have a great weekend!

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Have you noticed a drop in your home’s water pressure? While running multiple plumbing fixtures at the same time could cause you to lose some water pressure, a consistent and constant weakening of pressure could mean there is something wrong with your plumbing. Here are some common causes for low water pressure:

Clogged shower head.

If the water pressure seems weak in the shower, but okay in other parts of the home, it’s probably a problem with your showerhead. Check to see if there are mineral deposits built up on your showerhead and use a vinegar and water solution to clear the blockages. This should improve water flow. Learn how to clean a shower head.

Waterline valves shut off.

Sometimes water valves are accidentally shut off. If the home’s main…

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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: 557 (665, 457, 452) # Sales: 260 (238, 189, 206) Ratio: 47% (36%, 41%, 46%) # Price Changes: 285 (281, 206, 250) # Expired/Off Market Listings: 172 (364, 178, 145) Net loss/gain in listings this week: 125 (63, 90, 101) Active single family home listings: 2949 (2860, 2778, 2743) Active condo listings: 2269 (2207, 2222, 2145) Homes 4-week running average: $429k ($438k, $444k, $442k) Condos 4-week running average: $239k ($237k, $235k, $234k) Have a great weekend.

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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: 665 (457, 452, 511) # Sales: 238 (189, 206, 189) Ratio: 36% (41%, 46%, 37%) # Price Changes: 281 (206, 250, 197) # Expired/Off Market Listings: 364 (178, 145, 155) Net loss/gain in listings this week: 63 (90, 101, 167) Active single family home listings: 2860 (2778, 2743, 2688) Active condo listings: 2207 (2222, 2145, 2089) Homes 4-week running average: $438k ($444k, $442k, $456k) Condos 4-week running average: $237k ($235k, $234k, $225k) Quite a lively discussion on last week's post... I love the debate and the intelligent arguments that are brought up, and the constructive criticism, but the name calling, trolling, and…

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