“We continue to see stability in the all-residential average and median prices, and this stability has been primarily due to strong sales of single family homes, which are a staple of our marketplace,” explains James Mabey, Chair of the REALTORS® Association of Edmonton.Here is our snapshot on the market in October:
Single family home prices are lower than they were 10 years ago according to the graph.Posted by GM on Wednesday, November 1st, 2017 at 9:40pm
It is gonna be mixed for the next few months as well due to the rate hold policy and stress testing starting in January! Until then the price will artificially go up in certain markets.
I personally am in no rush to jump in and pay a higher price now knowing that I can get it lower next year.
Best time to buy is NOW!!
Next year will be too many people looking for too few homes.
Inventory is at an all time high and average sale price is going lower. You and I have a very different definition of things heating up!Posted by smitty on Thursday, November 2nd, 2017 at 6:29am
I really feel the economy or rent market is stabilizing. Two of my two bedroom apartment on southside are able to receive $1250+ rent compare last year i rent them out for $1125. And last week i saw Broadwalk ended their promotion on a ridiculous price 2 bedroom $965 including every utility and internet and tv cable on the area. Now they are selling $1299 per month.
I believe if the rent continuously stay hold or stronger, more investor eventually to come back and push the pricing
Sales are up, and price per square foot is also up. Sounds like things are heating up!Posted by Tom on Thursday, November 2nd, 2017 at 7:23am
http://www.cbc.ca/news/canada/edmonton/reidbuilt-homes-bankruptcy-1.4385322Posted by bubu on Friday, November 3rd, 2017 at 1:38am
I see Alberta created 11,900 jobs last month (October's jobs report) both in the bank sector. “Bank”ruptcy lawyers and food”bank”s.Posted by Tony on Friday, November 3rd, 2017 at 4:06am
Rents will finally stop falling after all the home builders have gone bankrupt. Who would build homes will no one to sell them to? I did see some homes sell in Northmont one of the cheaper areas compared to the other areas. People are trying to beat the new stress test but it shouldn't affect anyone in Edmonton as townhouses sell at one times yearly income.Posted by Tony on Friday, November 3rd, 2017 at 7:23am
I think NAFTA will be terminated and that will cause the cost of building materials to skyrocket and loonie to crash and an ensuing easing from BOC. Also since housing is unaffordable in Vancouver and Toronto many of the 320K immigrants will move/come to Alberta, I always have a fairly high accuracy in my predictions. Also since the oil is stabilizing and most banks are predicting Alberta will lead Canada in GDP growth, I think we are about to turn the corner.Posted by Shawn on Tuesday, November 28th, 2017 at 11:25pm
The article about “single family home sales strong in October” of real estate is easily understandable. I am impressed with that article. These article express with single home sales in compared this year. Thank you for sharing this useful article.Posted by nida on Thursday, November 30th, 2017 at 6:05am