Top 3 Reasons to Add a Secondary Suite to Your Property in Edmonton
Posted by Liv Real Estate on
In August the City of Edmonton updated their Secondary Suite zoning bylaws, making it easier for property owners to add a secondary suite to their property. The city expects to see 500 new legal suites in duplex homes, 600 in row-houses and about 550 in homes on small lots around the city, which has greatly increased interest for Secondary Suites in Edmonton’s Real Estate market.
Here are the top 3 reasons you should consider adding a secondary suite to your home
Income Properties
Adding a secondary suite to your property adds a new income stream, increasing your monthly income without requiring more of your time or effort. This money can easily go towards paying down your mortgage, building up your savings or even paying off debt. The decision to…
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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: 415 (447, 421, 524)
# Sales: 192 (195, 194, 224)
Ratio: 46% (44%, 46%, 43%)
# Price Changes: 436 (431, 375, 425)
# Expired/Off Market Listings: 262 (328, 280, 711)
Net loss/gain in listings this week: -39 (-76, -53, -411)
Active single family home listings: 4227 (4241, 4257, 4272)
Active condo listings: 2458 (2463, 2482, 2510)
Homes 4-week running average: $427 ($430k, $426k, $430k)
Condos 4-week running average: $223k ($230k, $235k, $237k)
An interesting report came out this week from CMHC, showing there is high evidence of overbuilding in Edmonton, with an elevated level of inventory of unsold, completed new detached…
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That’s why you need to get the electrical systems checked before buying it. A home inspector can inspect many aspects of a home you’re considering purchasing. Here are some things they should include in an electrical inspection:
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 421 (524, 427,523)
# Sales: 194 (224, 236, 260)
Ratio: 46% (43%, 55%, 50%)
# Price Changes: 375 (425, 452, 487)
# Expired/Off Market Listings: 280 (711, 259, 304)
Net loss/gain in listings this week: -53 (-411, -68, -41)
Active single family home listings: 4257 (4272, 4429, 4540)
Active condo listings: 2482 (2510, 2667, 2666)
Homes 4-week running average: $426k ($430k, $430k, $429k)
Condos 4-week running average: $235k ($237k, $242, $245k)
Have a great weekend!
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 524 (427,523, 568)
# Sales: 224 (236, 260, 247)
Ratio: 43% (55%, 50%, 43%)
# Price Changes: 425 (452, 487, 523)
# Expired/Off Market Listings: 711 (259, 304, 325)
Net loss/gain in listings this week: -411 (-68, -41, -4)
Active single family home listings: 4272 (4429, 4540, 4534)
Active condo listings: 2510 (2667, 2666, 2696)
Homes 4-week running average: $430k ($430k, $429k, $434k)
Condos 4-week running average: $237k ($242, $245k, $240k)
Have a great weekend!
Our preliminary look at the real estate market in September shows single-family home sales are up (ever so slightly) from last year - 668 homes were reported sold in September in Edmonton, up 2.5% from last year:
Condo sales, on the other hand, reached a new low - 250 condos were reported sold in September, down 11% from last September:
The average price of single-family homes was $430,881 - up 1% compared to last September - and the median price was $387,500 - up 0.6%. The average price of condos was $241,838 - down 4% from last September - and the median price was $219,000 - down 0.5%.
The average price per square foot for single-family homes was $276 and for condos was $237 - both were down $10 from last September.