Housing Forecast Seminar: Live Blog
Posted by Liv Real Estate on
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…
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 74 (190, 213, 278)
# Sales: 95 (180, 161, 137)
Ratio: 128% (95%, 76%, 49%)
# Price Changes: -152 (122, 127, 206)
# Expired/Off Market Listings: 131 (262, 238, 218)
Net loss/gain in listings this week: -152 (-252, -186, -77)
Active single family home listings: 2,364 (2,434, 2,544, 2,641)
Active condo listings: 1,940 (1,997, 2,070, 2,145)
Homes 4-week running average: $418k ($431k, $432k, $427k)
Condos 4-week running average: $249k ($243k, $235k, $236k)
Wow, time flies! Last weekly update of the year.... Next year is going to be interesting! I'll be attending the Annual Housing Forecast on Wednesday and will have lots of…
Your heating system works hard during the winter to keep your home warm and comfortable. The last thing you want is for your furnace to break down in the middle of winter. Just like caring for anything mechanical, you should check and maintain your heating system, at least once a year, to keep it running efficiently and safely throughout all the seasons.
Photo credit: Furnace Solutions
Here are some reasons why you should need to have your furnace inspected and serviced regularly by HVAC companies in Edmonton:
So we have an interesting situation happening at our office at the moment... someone has created a fraudulent company that shares a name with one of our agents. We've been contacted by a number of people over the past week about "Mobey Real Estate" or "Moby Real Estate" because one of our associates is named Angel Mobey, and of course, when you google something like Mobey Real Estate you find us.
The Real Estate Council of Alberta (RECA) issued a consumer alert about the company on Friday stating the following:
Mobey Real Estate is not a licensed real estate brokerage in Alberta nor are any of the individuals listed on the Mobey website licensed as real estate professionals.
Mobey has been contacting consumers with offers of work-from-home employment…
Photo Credit: D-Trac Construction
Any experienced real estate agent will tell you that the two rooms a home buyer will look at first when interested in a home for sale are the kitchen and the bathroom. If your bathroom is outdated and you want to improve your home’s resale value you should consider a minor bathroom renovation. There are many benefits of bathroom renovations and with some smart and creative upgrades, you won’t have to spend a fortune to make your bathroom more attractive to potential buyers.
Here are some tips for maximizing your ROI with bathroom renovations in Edmonton: