Tax Impacts of Real Estate Transactions

Disclaimer This article is not intended to be specific advice, it is recommended that you consult with a tax professional about your specific transaction and circumstances. The tax treatment of a real estate transaction is dependent on the circumstances around how that property was used during the period of ownership. This article is intended to […]

Highest January Single-Family Home Sales in Over 10 Years – UPDATED

Sales in the Greater Edmonton area were up 46% over last January! We don’t expect the pace of sales to stay ahead of previous years for much longer, we’re still dealing with pent-up demand due to extremely low-interest rates and people wanting more space for working and learning from home. The Bank of Canada has […]

Greater Edmonton Area Real Estate Market Finishes the Year Strong!

The real estate market finished out the year strong with the most sales we’ve seen in the Greater Edmonton Area (GEA) in December since 2007. After a rocky start, total sales in 2020 finished 3% ahead of 2019, with single-family homes in the communities outside of Edmonton – particularly St. Albert and Sherwood Park – […]

Busier Than Normal Market in the Greater Edmonton Area

For the 5th month in a row, sales were well ahead of normal levels (well above the past 10 years) in the Greater Edmonton Area (GEA). Sales were up 27% over last year in November. Year to date sales are now 1.5% ahead of last year. I was a little concerned that new listings would […]

Edmonton Real Estate Sales up 25% in October – UPDATED

The real estate market is looking more normal this fall, after a very busy summer. We’re seeing more listings come on the market, and buyers now have the benefit of extremely low mortgage rates and more listings to choose from. New listings are well above normal levels for this time of year (13% up from […]

Busy Real Estate Market in Edmonton in September – UPDATED

Single-family home sales were above normal levels in Edmonton in September, spurred on by historically low interest rates. Residential sales were up 35% in September compared to last year, in the greater Edmonton area. Benchmark prices for single-family homes and townhouses are up over 2% from pre-covid levels. I will update this post when the […]

Moving to the ‘burbs – Sales Outside Edmonton Jump in August – UPDATED

National headlines have focused on record real estate sales recently, and the Greater Edmonton Area is no exception – we haven’t seen this many sales in August since the boom in 2006. After peaking in July, single-family sales in Edmonton came back down to normal levels in August while sales outside Edmonton skyrocketed. Sales in […]

Real Estate Market Reaches Annual Peak Late in Edmonton – UPDATED

The spring market clearly had a delayed peak due to COVID-19 this year. Our weekly stats have shown a downward trend for the past few weeks, so I expect that July was the peak of the real estate market in Edmonton this year. We have clients moving for all kinds of reasons at the moment, […]

Sales Rebound in June in Edmonton – UPDATED

Pent up demand for real estate in Edmonton brought sales back up to normal levels for June. Sales rebounded, surpassing the numbers reported for the past 4 years in Edmonton and pushing us into a seller’s market (just barely with 3.8 months supply) for the first time since 2015. Watch our Facebook page for a […]

Edmonton Real Estate Market Starts Rebound in May – UPDATED

The Edmonton real estate market rebounded in May after COVID-19 took a serious bite out of the April market, but it’s still considerably slower than we normally see at this time of year. There are plenty of buyers out looking (our website traffic is up over 40% from last May, with over 4.6million pageviews), but […]

COVID-19 Takes a Bite Out of the Real Estate Market in April – UPDATED

We don’t often see sales decline in April compared to March, and I don’t think we’ve ever seen them drop to back down to December/January levels, but that’s what COVID-19 has done to the real estate market in Edmonton. Perhaps some are surprised to see any homes sold at all; we and many in the […]

March Market Report – UPDATED

And we were off to such a good start… alas, it was not to be. The question on my, and many people’s minds, is what is COVID-19 going to do to the real estate market? Obviously, the short term impact can already be seen – when the spring market is normally heating up, two weeks […]

February Market Report – UPDATED

Once again demand for real estate is up and supply is down on a year over year basis in the greater Edmonton area. But, before we start to see home prices increase, we will need to see improvement on the employment side of things, according to Senior market analyst at CMHC Heather Bowyer: “Overall we’re […]

January Market Report – UPDATED

Supply is down, demand is up compared to last year – will this trend continue? If it does, we should start to see prices moving upward. A few interesting reports came out this month, first, the federal first time home buyers incentive has been declared a “flop” by Sherry Cooper, chief economist at Dominion Lending […]

December Market Update

Here’s our initial look at the real estate market in Edmonton in December – I will update this post after the REALTORS® Association of Edmonton releases their monthly report on the market. Single-family home sales ended out the year like they normally do in December – 402 homes were reported sold in December, up 7% […]

November Market Report – UPDATED

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. […]

Monthly Market Update – October, 2019 – UPDATED

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 […]

September Real Estate Market Report – UPDATED

Demand for residential real estate was up 13% on a year over year basis in September in the greater Edmonton area, but the number of new listings also increased and just barely pushed us back into a buyer’s market with 6.14 months of supply, after spending the past 5 months in a balanced market. Here’s […]

Average Edmonton Home Price Rises – First Time Since Stress Test Introduced (UPDATED)

I’ve been wondering what this month’s stats were going to look like, ever since we saw the absorption rate fall below the rates we’ve seen for the past three years last month, and Robert Hogue, senior economist with RBC Economics declared the housing correction of the last 18 months is over. (I will update this […]

Real Estate Market Picks Up in Edmonton in July – UPDATED

The real estate market was busier than I expected in July in Edmonton. Nearly every one of our agents reported being in multiple offer situations on more than one occasion in the month of July. There are a number of stats that suggest the bottom of the current market cycle was a couple of months […]