As an Edmonton realtor, I’m seeing positive signs for our real estate market in 2017. According to the Edmonton Real Estate Board, unit sales of all residential listings were up 19% compared to January 2016.

Prices did experience a slight decrease over all categories, but remained fairly stable. Compared to January 2016, condominium prices increased 8.7% and duplex/row houses increased 8%. Single family home prices remained rather stable with an average of $416,859.

“2017 has started strong, with an increase in year over year unit sales and prices remaining stable,” said James Mabey, REALTORS® Association of Edmonton Chair. “While it is still early in the year, the rise in sales suggests that consumer confidence in the housing market is on the rise.”

Total inventory at the end of January 2017 is 5,594. This is a decrease of 2.7% compared to January 2016, but increased 7.4% relative to last month in December 2016. While the overall listings for January more than doubled compared to December 2016, from 1,067 to 2,185, they are lower than last year, this time with a decreased year-over-year by 7.6% from January 2016. 

January 2017 Statistics

 

Single Family Homes

Condos                 

Average Price

$416,859

$246,727

Median Price

$390,000

$228,000

DOM    

68

82

 

If you are planning on selling, this would be a good time to do so. Currently there is a demand with lower inventory than there will be in the spring.  

Thinking of selling?  Be sure to contact an agent who knows your market so that you are priced right. Find someone who can help prepare your home for sale and who will market your home until it is sold.

Source: Realtors Assocation of Edmonton

 

Call me if you need any help!

Alison Murray
780-619-9812

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RE/MAX for sale sign, Miracle Homes, Stollery Children's Hospital, Edmonton Realtor, Edmonton buy and sell homes

Being an Edmonton Realtor is more than helping people buy and sell homes – it’s also about giving back to the community. One of my favourite ways to do this is to make all of my listings a Miracle Home.

What is a Miracle Home? It is a house on the market that when sold, a part of the sale is donated to the Children’s Miracle Network. You can recognize a Miracle Home by the yellow balloon and purple teddy bear on the For Sale sign.

The Children’s Miracle Network is a non-profit that raises funds for 170 children’s hospitals across Canada and the United States. The Children’s Miracle Network distributes the donations to local member hospitals to provide funds to help save and improve the lives of millions of children.  

As a RE/MAX Realtor, I was surprised to know that only RE/MAX provides Miracle Homes and is also Canada’s largest contributing sponsor to the Children’s Miracle Network, donating more than $64 million to this great cause.

In Edmonton, RE/MAX Realtors’ support goes specifically to the Stollery Children’s Hospital. In 2016, Edmonton RE/MAX realtors and home owners donated $450,000, and since 1992 they have donated more than $5 million!

The Stollery Children’s Hospital provides specialized and acute care for children of all ages from premature babies to older teens throughout Western Canada. The Stollery is a leader in saving lives and providing remarkable treatment for children who are critically ill or injured.  Each year the Stollery cares for more than 215,000 patients. Donations provide state-of-the-art equipment, research funds, training opportunities, in-hospital programs for kids to play like kids again, and so much more. Miracle Homes improve the lives of children in our community by providing them with world-class care when they need it most.

There are countless stories of how the lives of children and their families are greatly improved because of the care they receive at the Stollery Children’s Hospital. Samantha Roth is one parent who shares, “When Liam was 16 months old he was diagnosed with Type 1 diabetes at another hospital where the care he received was confusing and slow. When we moved to Edmonton and transferred his care to the Stollery, they went above and beyond our expectations. They take the time to listen to our concerns and are extremely supportive. If we ever moved away from Edmonton, I would keep Liam’s care at the Stollery and drive hours and hours for his appointments.”

Since the Stollery Children’s Hospital greatly improves the lives of numerous children, I’m going to continue to sell homes with the yellow balloon and purple teddy bear on the For Sale sign so that miracles will continue to happen.

If you are thinking of selling in the near future, please feel free to contact me to discuss your goals.

I am here to help!

Alison Murray

780-619-9812

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Edmonton has been sailing through relatively calm waters during Alberta’s economic meltdown, but there could be choppy days ahead, real estate specialist Don Campbell said Tuesday. 

Edmonton realtor news...

 

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Edmonton Realtor 2016  summary statistics


The Realtors Association of Edmonton released its 2017 housing forecast yesterday. Below is a summary of 2016 MLS statistics and a few forecasted trends for 2017:  See full report here. 


MLS® System Activity for December 2016

December 2016

 

M/M % Change

Y/Y % Change

SFD average selling price – month

$420,962

-4.43%

-0.86%

SFD median selling price – month

$392,250

-0.44%

1.88%

Condominium average selling price

$247,647

2.52%

-0.53%

Condominium median selling price

$228,000

6.05%

-5.00%

All-residential average selling price

$357,916

-4.09%

-2.27%

All-residential median selling price

$340,944

-1.82%

-1.18%

# residential listings this month

1,067

-41.53%

-16.51%

# residential sales this month 

716

-26.79%

0.42%

# residential inventory at month end

5,208

-19.80%

2.40%

# Total6 MLS® System sales this month

931

-26.64%

0.22%

 

Edmonton Realtors Association 2017 Forecast

Realtor’s Association of Edmonton Chair, James Mabey forecasts that sales of residential homes will remain stable in 2017.  Single family home unit sales and average prices only slightly dropped in 2016. Unit sales for single family homes are predicted to decline approximately 1.7% in 2017 and prices are also predicted to decline 2.2%.  Inventory for single family homes will stay higher than the last few years.

Condominium sales are only expected to drop by 3.8%, but unit sales are anticipated to grow by 0.2%. Inventory is expected to grow by 1.1%

If you have any other questions about specific product, or any other real estate questions, please feel free to email at Alison@InfoEdmonton.ca, or call me directly at 780-619-9812.


Alison

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On December 2, 2016, the Edmonton Real Estate Board published November's real estate statistics:

The average monthly selling price for single family homes increased by 3.95% and 6.39% for duplexes and rowhouses relative to October 2016. Condominiums experienced a minor decrease in price of 1.68% relative to October 2016. Prices for single family homes grew 1.76% relative to November 2015. November’s unit sales dropped 11.41% relative to the same period last year. 
The all-residential listings average selling price increased 2.52% to $373,174. Single family homes increased to $440,496 and duplex/rowhouses increased to $353,818. Condominium average prices decreased slightly to $241,569. This average selling price for single family homes in November is the second highest for 2016, behind only July.

“There is continued strength and price stability in Edmonton’s real estate market. Most average selling prices increased this month, partially due to the sales of several high-priced listings,” said Steve Sedgwick, Chair of the REALTORS® Association of Edmonton. “The all residential median selling price is down only 1% from last year, but the single family median selling price was down 2% and condominiums median selling price was down over 8%.”

Single family homes continued to sell well, with the average days on market for November staying unchanged from October at 52, which was three days fewer on the market compared to the same period in 2015. However, condominiums and duplexes/rowhouses were both affected by the seasonal market shift. Condominiums averaged 79 days on market, and duplexes/rowhouses averaged 74 days, which was an increase for both of 17 and 18 days, respectively, relative to the same period in 2015.

Residential inventory continued to increase in November to 6,493 listings, an increase of 7.45% compared to last year.

“November inventory decreased by 10% compared to October,” said Sedgwick. “We expect to see the normal seasonal decline during the slower winter months as we head into 2017.”

 

MLS® System Activity (for all-residential sales in Edmonton CMA1)

1 Census Metropolitan Area (Edmonton and surrounding municipalities)
2 Single Family Dwelling
3 The total value of sales in a category divided by the number of properties sold 
4 The middle figure in a list of all sales prices
5 Residential includes SFD, condos and duplex/row houses. 
6 Includes residential, rural and commercial sales

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The Edmonton Realtors Association of Edmonton has sent out a report stating marginal dips in the number of August sale signals a stable market. The following are keys points taken from the news release.

Key Inventory Points

1) Number of residential inventory at month end is 7,908

2) There are 7.4% more listings than end of August 2015

3) Days on market for Edmonton condos was 62 days

 Key Sold Points

1) Number of residentia sales this month 1,433 (-2.18 % Y/Y)

2) Edmonton condo average selling price $251,526 (-1.12 % Y/Y)

3) Single family home average selling price $$434,362 (-0.80% Y/Y)

Steve Sedgwich, Chair of Realtors Association summarizes the report nicely by stating "Alberta's economy has been under enourmouse pressure for same time, but prices and unit sales are down from last year, down less than 1% and 2%"

Please feel free to call if you need some help!

Alison Murray

780-619-9812

Edmonton Condo Realtor News

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We have had a lot of changes so for this year in Alberta... If you are interested in knowing how these changes are effecting Edmonton's real estate market, check out our latest August 2016 News Release with analysis and statistics from our Edmonton Real Estate Association...

 
1) Residential sales are down -16.39% since last year.  

 2)  Average condo price month-over-month dropped  partially attributed to the sale of

several luxury properties in June that bolstered the average price. 

 3) The average duplex/rowhouse sale price was down  2% year-over-year (y/y). 

4) The median sales price for all residential is up less than a percent from last year.

 5) We are continuing to see stable pricing throughout the Edmonton region despite slower sales.

 
Call me if I can be of any help!

 
Alison Murray

780-619-9812

 

Edmonton Realtors News Release

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Canada's real estate has posted year-over-year gains in average residential sale price, including Edmonton. Find out which regions are expected to see an increase next year in the 2016 RE/MAX Housing Market Outlook Report: http://rem.ax/1NbrACN

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Hard to believe that  the average waterfront property value at Sylvan Lake, AB, is $798,900..this is higher than Kimberly BC!  Sylvan lake does offer everything from fishing, hiking, restaurants and even scuba diving.  Don't be discouraged with the prices, Alberta has many other beautiful lakes for recreational properties for very affordable prices... See below for more information from Remax Recreational Properties Report:


 

Situated halfway between Calgary and Edmonton, Sylvan Lake is very popular for recreational property owners as well as tourists. Less than a two hour drive from Alberta’s two largest cities,city dwellers can escape to one of Canada’s top ten beaches and enjoy the northern lights. Sylvan Lake is the perfect location for those who are looking for a four season property near lots of amenities and activities. This luxury region offers fabulous restaurants, lake cruises, water activities, and golf as well as ice fishing and snowmobiling. Boating enthusiasts will enjoy the Sylvan Lake Sailing Club’s weekly races across the lake. As the region’s primary real estate drivers are families with children, economic factors suchas the price of oil as well as proposed changes to taxation are having a dampening effect on Sylvan Lake’s recreational property market. The most expensive property this year sold for $1.47 million for a fully developed four bedroom property on the water.


Information from 2015 Remax Recreational Properties Report 


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 Highlights of this year's report:
  • The majority of Canadians prefer long weekends at the cottage or cabin over big city getaways
  • The low Canadian Dollar and foreign buyers are creating demand in well-established Canadian recreational property markets
  • The recreational property market buying season has had a strong start and is expected to remain active throughout the summer as continued low interest rates and consumer demand fuel activity

 

According to the 2015 RE/MAX Recreational Property Report, almost 68 per cent of Canadians would rather spend a long weekend at the cottage or cabin over a big city getaway. The survey, conducted by Leger, found that Canadians, of all ages and from all regions, were enthusiastic about spending time at the cottage or cabin.
RE/MAX also examined what Canadians would consider sacrificing inorder to afford their dream cottage or cabin. Interestingly, giving up destination vacations is listed as number one on the list. Another notable finding was that 21 per cent of Canadians would downsize their main residence in order to purchase a cottage, cabin or ski
chalet demonstrating that Canadians are looking for alternative ways to finance their dream properties.
In a separate RE/MAX survey of brokers and agents, almost half of the regions are reporting an increase in buyers looking to rent out their recreational properties part- or full-time and this trend is most
common in Ontario and British Columbia. However, very few regions are listing investors as primary market drivers. Typically, recreational property buyers in Canada are families with children, and retirees.The low Canadian dollar is having a positive effect on local recreational property markets as Canadians are choosing to stay in Canada where their dollar will go further. Some are selling US properties that appreciated inrecent years to take advantage of the exchange rate. The low Canadian dollar is also attracting foreign buyers to well-established recreational property markets across the country including Whistler, Tofino, Muskoka, Shediac, and PEI. Regions reporting an impact from the low Canadian dollar but no increase in foreign buyers include Shuswap, Lake Winnipeg, Penticton, and Thunder Bay. In large markets where there are large enough sample sizes within housing types for year-over-year comparisons, all regions are witnessing year-over-year price appreciation and an increase in sales, with the exception of PEI’s coastal properties where prices remain flat but sales have increased. Markets with both increased year-over-year median prices and sales include Muskoka, Whistler, the Kawarthas, Haliburton, and Wasaga. Peterborough and the Kawarthas witnessed a 27.9 per cent increase in median price, attributed to a surge of sales in the upper-end of the market, as buyers from the GTA look to properties on Stony Lake and Clear Lake as alternatives to the more developed Muskoka lakes. The low price of oil has had an effect on recreational property markets in regions where buyers are typically employed by the oil industry in both Western Canada and Newfoundland. However, in Newfoundland, waterfront properties located within a two hour drive to St. John’s are seeing a respectable start to 2015 with relatively flat sales. The recreational property market buying season has had a strong start and is expected to remain active throughout the summer as continued low interest rates and consumer demand fuel activity.  Information from Remax Recreational Report.

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Contact

Cell: 780-619-9812
Toll Free: 1-866-482-4566
Email: Click Here
Alison Murray, Realtor®
RE/MAX Real Estate Central
10805 – 120 Street,
Edmonton, AB  T5H 3P9 CA

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