The Best Places to Live in Edmonton
Posted by Liv Real Estate on
People looooovve making lists - best this, top that - and I've seen a lot of lists of the best places to live in Edmonton. Many are based on surveys, some are based on market stats, and some are just based on personal opinion. A number of these lists have been released in the past few weeks, so I thought it was good time to bring in a brokerage's perspective on things.
Everyone has different reasons for choosing a neighbourhood, whether it is proximity to something (work, school, amenities, relatives), affordability, property types... the list goes on. What I can say for certain is no neighbourhood will be on the top of everyone's list, or even half of everyone's list. Most people choose a fairly broad area when looking for a place to live and narrow it…
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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: 672 (580, 594, 606)
# Sales: 248 (173, 239, 230)
Ratio: 37% (30%, 40%, 38%)
# Price Changes: 386 (333, 342, 306)
# Expired/Off Market Listings: 198 (318, 141, 171)
Net loss/gain in listings this week: 226 (89, 214, 205)
Active single family home listings: 3578 (3416, 3341, 3242)
Active condo listings: 2638 (2560, 2554, 2444)
Homes 4-week running average: $445k ($443k, $438k, $431k)
Condos 4-week running average: $235k ($232k, $233k, $235k)
Holy new listings batman! Listing activity this month is well above the levels we saw in for the past few years, including April 2014 which isn't on the chart below. Inventory hasn't…
If you live in or are looking at a home for sale that was built before 1990, it might have asbestos in certain building materials like older tile and drywall compound. It was a widely used construction material because of its thermal resistance, strength and sound absorption. In those days, asbestos was commonly used in ceiling and floor tile, siding, insulation and in the compound used on seams between pieces of drywall. Older vermiculite attic insulation may also contain asbestos. Learn more about asbestos in the home.
The REALTORS® Association of Edmonton released their report on the Greater Edmonton Area real estate market for March this week saying:
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…
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…
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!
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…
