Here is our weekly update on the Edmonton real estate market. (Previous week's numbers are in brackets). For the past 7 days:

New Listings: 443 (410, 546, 510)
Sales: 401 (390, 434, 412)
Ratio: 91% (95%, 79%, 81%)
Price Changes: 275 (253, 276, 328)
Expired/Off-Market Listings: 177 (163, 171, 337)
Net loss/gain in listings this week: -135 (-143, -59, -239)
Active single-family home listings: 2199 (2236, 2262, 2248)
Active condo listings: 1386 (1408, 1419, 1402)
Homes 4-week running average: $530 ($533, $532, $527)
Condos 4-week running average: $234 ($238, $238, $233)

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Have you heard the latest buzz from the Bank of Canada? They've recently lowered their key policy rate by 50 basis points to 3.75 percent. While we're still on the lookout for new rates from the banks, this drop might just bring some delightful savings your way if the banks decide to follow suit. Let’s crunch some numbers to see what this could mean for you.

Say, you have a mortgage of $400,000 for example: Under the old rate of 4.44%, on a 25-year mortgage with a 5-year term, you stood to pay approximately $2,200 in principal interest. If banks adjust their rates down to 3.94%, your principal interest would potentially decrease to about $2,091. This means not only less monthly expenditure but also a decrease in your final mortgage balance, allowing…

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Here is our weekly update on the Edmonton real estate market. (Previous week's numbers are in brackets). For the past 7 days:

New Listings: 410 (546, 510, 461)
Sales: 390 (434, 412, 493)
Ratio: 95% (79%, 81%, 87%)
Price Changes: 253 (276, 328, 308)
Expired/Off-Market Listings: 163 (171, 337, 170)
Net loss/gain in listings this week: -143 (-59, -239, -112)
Active single-family home listings: 2236 (2262, 2248, 2321)
Active condo listings: 1408 (1419, 1402, 1477)
Homes 4-week running average: $533 ($532, $527, $523)
Condos 4-week running average: $238 ($238, $233, $233)

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Here is our weekly update on the Edmonton real estate market. (Previous week's numbers are in brackets). For the past 7 days:

New Listings: 546 (510, 461, 542)
Sales: 434 (412, 493, 422)
Ratio: 79% (81%, 87%, 78%)
Price Changes: 276 (328, 308, 320)
Expired/Off-Market Listings: 171 (337, 170, 226)
Net loss/gain in listings this week: -59 (-239, -112, -106)
Active single-family home listings: 2262 (2248, 2321, 2337)
Active condo listings: 1419 (1402, 1477, 1513)
Homes 4-week running average: $532 ($527, $523, $516)
Condos 4-week running average: $238 ($233, $233, $234)

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Are you planning to buy property in Alberta? Starting October 20, 2024, be prepared for a significant shift in land title registration costs due to the introduction of a new Land Titles Registration Levy.

What Is Changing?

The province of Alberta is introducing a new Land Titles Registration Levy, announced in Budget 2024, to replace the current Variable Fees for transferring land and registering mortgages. Under the new structure, buyers will face a flat levy of $5.00 per $5,000 of property value AND $5.00 per $5,000 of mortgage value, along with a $50 flat fee for each, affecting land transfers, mortgage registrations, and certain caveats.

How will this affect you as a buyer?

Previously, land transfers incurred a fee of $50 plus $2.00 for…

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Here is our weekly update on the Edmonton real estate market. (Previous week's numbers are in brackets). For the past 7 days:

New Listings: 510 (461, 542, 611)
Sales: 412 (493, 422, 435)
Ratio: 81% (87%, 78%, 71%)
Price Changes: 328 (308, 320, 340)
Expired/Off-Market Listings: 337 (170, 226, 249)
Net loss/gain in listings this week: -239 (-112, -106, -73)
Active single-family home listings: 2248 (2321, 2337, 2371)
Active condo listings: 1402 (1477, 1513, 1506)
Homes 4-week running average: $527 ($523, $516, $510)
Condos 4-week running average: $233 ($233, $234, $233)

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As the leaves begin their annual transformation, Edmonton's real estate market is still going strong. In September 2024, the benchmark price for single-family homes escalated by 9% year-over-year to an impressive $476,500. This upward trajectory was most pronounced in multifamily dwellings, with apartment-style condos and townhouses witnessing a 10% and 12% increase to $197,900 and $267,800, respectively.

Sales in the greater Edmonton area were up 10% compared to last September, well above the seasonal norm. Inventory remained well below traditional levels, with 5,692 active listings at the end of the month, dwindling by 13% from last year. We're in a persistent seller's market wIth 2.5 months of supply.

The Bank of Canada cut its benchmark rate by…

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