There was an interesting article published in the Edmonton Journal this week, discussing the rather rosy results of a report from the Real Estate Intelligence Network (REIN). “It’s in recovery — a slow recovery — that’s based on current and future GDP growth,” says Jennifer Hunt, vice-president of research at Real Estate Intelligence Network Ltd. “At REIN we are always looking at the health of the economy, jobs and migration.” All are connected, she adds. Economic growth creates jobs, which boosts migration. In turn, more people coming to the city for jobs will create more demand for housing — first rental units and then homes for ownership. The Real GDP for the City of Edmonton is up 0.5% from last year and is forecast to grow at about 1.4% next…

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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: 308 (291, 322, 406) # Sales: 205 (195, 195, 197) Ratio: 67% (67%, 61%, 49%) # Price Changes:  276 (302, 303, 365) Expired/Off-Market Listings: 188 (253, 199, 481) Net loss/gain in listings this week: -85 (-157, -72, -272) Active single-family home listings: 3578 (3610, 3713, 3751) Active condo listings: 1975 (1999, 2025, 2033) Homes 4-week running average: $414k ($413k, $412k, $415k) Condos 4-week running average: $223k ($222k, $223k, $216k) Have a great weekend!

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Whether you’re looking to turn your unfinished basement into livable space, you’re interested in creating a legal basement suite or you just want to refresh and repurpose a dated basement – there are a few things to consider before you get to picking out paint colours. By doing your homework, finding the right fit and being prepared for the work ahead you have a much better chance of achieving basement bliss - here are our top five tips for an Edmonton basement renovation:

Build Your Budget

Setting aside an appropriate amount of money to complete your renovation project is essential. “$25,000 to $30,000 is what you can expect to spend on a pretty standard basement,” says Ryan DeBruyne of MODE Contracting. “That would include a bathroom, bedroom and…

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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: 291 (322, 406, 367) # Sales: 195 (195, 197, 209) Ratio: 67% (61%, 49%, 57%) # Price Changes:  302 (303, 365, 385) Expired/Off-Market Listings: 253 (199, 481, 544) Net loss/gain in listings this week: -157 (-72, -272, -386) Active single-family home listings: 3610 (3713, 3751, 3769) Active condo listings: 1999 (2025, 2033, 2015) Homes 4-week running average: $413k ($412k, $415k, $414k) Condos 4-week running average: $222k ($223k, $216k, $226k) 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: 322 (406, 367, 402) # Sales: 195 (197, 209, 222) Ratio: 61% (49%, 57%, 55%) # Price Changes:  303 (365, 385, 399) Expired/Off-Market Listings: 199 (481, 544, 210) Net loss/gain in listings this week: -72 (-272, -386, -30) Active single-family home listings: 3713 (3751, 3769, 3992) Active condo listings: 2025 (2033, 2015, 2149) Homes 4-week running average: $412k ($415k, $414k, $413k) Condos 4-week running average: $223k ($216k, $226k, $224k) 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: 406 (367, 402, 337) # Sales: 197 (209, 222, 192) Ratio: 49% (57%, 55%, 57%) # Price Changes:  365 (385, 399, 322) Expired/Off-Market Listings: 481 (544, 210, 243) Net loss/gain in listings this week: -272 (-386, -30, -98) Active single-family home listings: 3751 (3769, 3992, 4028) Active condo listings: 2033 (2015, 2149, 2137) Homes 4-week running average: $415k ($414k, $413k, $416k) Condos 4-week running average: $216k ($226k, $224k, $217k) Have a great weekend!  

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Demand for real estate was up 16% from last October in the Greater Edmonton area last month - 1334 residential listings were reported sold in October - while supply dropped by 5%. If demand continues to increase, and supply continues to decrease on a year over year basis, we should see prices start to rise in the future - how long that is going to take is anyone's guess. The benchmark price decreased by 2.4% to $320,300 and the benchmark price for single-family homes was down 1.9% while apartment sytle condos saw the biggest drop at 5.3%. The absorption rate slipped back into a balanced market in October, but it usually creeps up in November and December.  

City of Edmonton Stats

Our initial report on the real estate market in Edmonton…

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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: 367 (402, 337, 487) # Sales: 209 (222, 192, 234) Ratio: 57% (55%, 57%, 48%) # Price Changes: 385 (399, 322, 390) Expired/Off-Market Listings: 544 (210, 243, 257) Net loss/gain in listings this week: -386 (-30, -98, -4) Active single-family home listings: 3769 (3992, 4028, 4078) Active condo listings: 2015 (2149, 2137, 2168) Homes 4-week running average: $414k ($413k, $416k, $418k) Condos 4-week running average: $226k ($224k, $217k, $212k) Have a great weekend!

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