Edmonton Real Estate Market Weekly Update, Feb. 3/17
Posted by Liv Real Estate on
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 440 (431, 449, 390)
# Sales: 198 (159, 134, 124)
Ratio: 45% (37%, 30%, 32%)
# Price Changes: 240 (260, 204, 205)
# Expired/Off Market Listings: 322 (136, 208, 179)
Net loss/gain in listings this week: -80 (136, 107, 87)
Active single family home listings: 2,293 (2,325, 2,245, 2,188)
Active condo listings: 1,909 (1,952, 1,892, 1,819)
Homes 4-week running average: $421k ($426k, $422k, $420k)
Condos 4-week running average: $249k ($232k, $236k, $248k)
It's looking a lot like 2015 this year, which is better than last year.
Have a great weekend!
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I'm going to change things up a bit...Normally I post a preliminary report on the Edmonton market on the first of each month, and a second report on the greater Edmonton area when the REALTORS® Association of Edmonton releases their stats. From now on I'm just going to publish one report on the 1st of the month, and add the greater Edmonton area stats as an update, when they're released. Hopefully you agree this is a good idea :)
Winter is best spent drinking hot chocolate and building snowmen, not re-roofing your house. Benoit Gosselin, operating manager at Safe Roofing Edmonton lists three main reasons why you should postpone your re-roofing project until springtime:
Over the years I've been involved in hundreds of sales where parents were helping their kids buy a property, and I've seen that "help" come in many different forms. There are some good ways for parents to help their kids by a home, and some things that should definitely be avoided. So, here are my tips for the best ways for parents to help their kids buy a property:
What your kitchen looks like will play a major role in how fast you sell your home. An experienced real estate agent will tell you that the kitchen is the first room a potential buyer will look at when they are investigating your home, either online or during a showing.
Photo Credit: Gem Cabinets
Kitchen renovations also have a very high return on investment compared to other home renovations. According to Remodeling Magazine’s Cost vs. Value Report for 2016, a minor kitchen remodel will recoup over 83 per cent of its initial cost. That means that if you spend $20,000 on a kitchen renovation, you can expect the resale value of your home to increase by nearly $17,000.
You don’t have to spend that kind of money to fix up the kitchen, boost your resale…
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…