• Edmonton Home & Condo Specialist
    Edmonton Home & Condo Specialist

Please visit our Open House at 576 178A ST in Edmonton.
Open House on Saturday, February 22, 2020 2:00PM - 4:00PM
Southwest Edmonton Windermere 2 storey located blocks away from River Ridge Golf Course and NORTH SASKATCHEWAN RIVER. Built in 2015 by Pacesetter homes, this fantastic 1,600 sq.ft home boasts many upgrades: designer light fixtures and hardware, hardwood floors throughout main floor, granite counter tops, stainless steel appliance, air conditioning and HVAC system. Bright open floor plan with plenty of windows, good sized dining room, a den/ office and half bathroom. Upstairs you will find a master bedroom with walk in closet and 5 piece ensuite with soaker tub; 2 more bedrooms and another full bathroom. Basement is roughed in for another bathroom, bedroom and family room. WEST facing back yard complete with a concrete pad 20 x 20 garage + driveway to accommodate a double garage. Windermere is a one of Edmonton's fastest growing communities minutes to walking parks, schools, great shopping and restaurants, Anthony Henday and 3 golf courses: River Ridge, Windemere Club and Jagger Ridge.
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Since I began my career as an Edmonton Realtor 15 years ago, I have been attending our annual Realtors Association of Edmonton Forecast. These sessions are valuable because senior economists project key economic indicators that could influence our Edmonton Housing market this coming year.


Overall, the Senior Economist for the City of Edmonton, Felicia Mutheardy, and Chief Economist with Alberta Treasury Board and Finance, Catherine Rothrock, both stated that some of the fears around trade with China and low oil prices have died down since the beginning of 2019 and there are stronger market indicators that have created a reason for optimism. However, 2020 is still a year to be cautious. Below is a list of Edmonton Real Estate Market Strengths and Challenges for the up and coming year.

 

Market Strengths for 2020

  • Edmonton will lead with strong GDP growth 2.7%
  • Lower interest rates
  • Slightly lower housing inventory
  • Manufacturing exports are increasing
  • Migration of 20,000 people to Edmonton area (mostly international)
  • Residential vacancy rates have dropped

Market Challenges for 2020

  • Mortgage stress test eroding buyers purchasing power
  • Potential provincial job cuts in the public sector
  • Unemployment rate
  • Pipeline delays
  • Oil Prices

What Alison Murray, Edmonton Realtor Predicts for 2020 Edmonton Real Estate Market 

Edmonton Realtors are seeing a reduction in inventory coming on the market and a slight increase in sales. This is a nice trend, because it looks like prices will stabilize.


2020 is projected to be a buyer’s market again, similiar to 2019, with no projected price increase until the economy improves. First-time and foreign buyers are expected to drive demand in 2020. This could even lead to price increases in certain types of homes, such as 2-storey detached, luxury and infill homes. Foreign buyers who previously flocked to Vancouver are now looking at the Edmonton real estate market for value in the coming years (RE/MAX 2019, Edmonton Housing Market Outlook).


Seller’s advice is hang in there, sales were slower around Christmas and the new year. Good news is homes aren’t losing their value as rapidly, and demand is increasing. If you are priced right; and presented and promoted well, you will sell!

Edmonton Realtors Association of Edmonton Forecasted 2020 Real Estate Statistics.

 

Listings Forecast

Sales Forecast

Prices Forecast

Single Family

-0.2%

+0.6%

+0.4%

Condo

+1.1%

+0.6%

+0.2%

Duplex

+0.4%

+1.4%

+0.3%

 

If you are thinking of buying or selling in 2020, please reach out to me early so I can help you tailor a plan for your success!

 

Alison Murray B.Comm.

Edmonton Realtor

Condo and Home Specialist

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I have listed a new property at 901 9929 113 ST in Edmonton. Zone 12, Edmonton  $235,000 
Welcome to "The Tretheway" a boutique style concrete condominium building in IDEAL Downtown Edmonton Oliver community one block from River Valley. Uniquely renovated one bedroom 880 sq.ft condo with in-suite laundry and one underground parking stall. Open floor plan with EAST FACING SPECTACULAR VIEW OF DOWNTOWN from living room, dining room and patio. Upgraded kitchen with NEWER cabinets, granite counter-tops, and upgraded appliances. Other notable upgrades: In-suite laundry with NEWER washer & dryer and granite counter-top, built in vacuum system, built in closet organizers, antique light fixture and marble bedroom floor. ASSIGNED UNDERGROUND PARKING STALL #27 and options for tandem U/G stall for extra $40 per mo . NEW WINDOWS, PATIO DOORS & ELEVATORS. Condo Fees: $548.86 incl HEAT & WATER. Social room, pool table and exercise room. FANTASTIC LOCATION: 3 blocks from Grandin LRT, one block from River Valley, 2 blocks from Save of Foods and walk to Downtown City Centre, MacEwan University and U of A.
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Please visit our Open House at 576 178A ST in Edmonton.
Open House on Saturday, February 8, 2020 2:00PM - 4:00PM
Southwest Edmonton Windermere 2 storey home located just blocks away from River Ridge Golf Course and river. Built in 2015 by Pacesetter homes, this fantastic 1,600 sq.ft home boasts many upgrades: designer light fixtures and hardware, hardwood floors throughout main floor, granite counter tops, stainless steel appliance, air conditioning and HVAC system. Main floor boasts bright open floor plan with plenty of windows, good sized dining room, a den/ office and half bathroom. Upstairs you will find a master bedroom with walk in closet and 5 piece ensuite with soaker tub; 2 more bedrooms and another full bathroom. Basement is roughed in for another bathroom, bedroom and family room. WEST facing back yard complete with a concrete pad (6mx6mx6mx6m) and driveway to accommodate a double garage. Windermere is a one of Edmonton's fastest growing communities just minutes to walking parks, schools, great shopping and restaurants, Anthony Henday and 3 golf courses, River Ridge, Windemere Club and Jager Ridge.
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Please visit our Open House at 576 178A ST in Edmonton.
Open House on Saturday, January 25, 2020 2:00PM - 4:00PM
Southwest Edmonton Windermere 2 storey home located just blocks away from River Ridge Golf Course and river. Built in 2015 by Pacesetter homes, this fantastic 1,600 sq.ft home boasts many upgrades: designer light fixtures and hardware, hardwood floors throughout main floor, granite counter tops, stainless steel appliance, air conditioning and HVAC system. Main floor boasts bright open floor plan with plenty of windows, good sized dining room, a den/ office and half bathroom. Upstairs you will find a master bedroom with walk in closet and 5 piece ensuite with soaker tub; 2 more bedrooms and another full bathroom. Basement is roughed in for another bathroom, bedroom and family room. WEST facing back yard complete with a concrete pad and driveway to accommodate a double garage. Windermere is a one of Edmonton's fastest growing communities just minutes to walking parks, schools, great shopping and restaurants, Anthony Henday and 3 golf courses, River Ridge, Windemere Club and Jager Ridge.
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MLS LISTINGS ARE DOWN.

  

December is also a good time to analyse our past year real estate stats and forecast the year ahead.  “The Edmonton market prices remain stable with a decrease in year-over-year residential listings. Our market has been down over the last number of years and we haven't seen a significant increase in the market, and we're not anticipating a significant increase soon," says REALTORS® Association of Edmonton Chair Michael Brodrick. 



Key highlights:

  • Median Condo price is down -1.19%, Year-Over-Year
  • Median Single Family Home price is up +1.62%, Year-Over-Year
  • Number of Total Inventory is down -9.31%, Year-Over-Year
  • Total Number of Total Sales is down -1.27% , Year-Over-Year

Single Family Homes saw almost the same number of sales over this time last year, total of 663 sales in Novevember 2019 vs 704 sales in November 2018! Although this is a positive sign, it was still down 15.8% from December 2015. We're happy to see SFH listings are down, a total of 18,439 SFH in December 2019 vs 20,035 SFH in December 2018.


Apartment/Condo WOW! a 33% gain in November 2019 with 297 sales compared to 264 sales in November 2018. However, still down 21% compared to December 2015. Still very positive news coupled with inventory level almost the same as December 2018.


Stay tuned for our February 2020 Real Estate News, featuring the highlights from the 2020 Realtors Housing Forecast Seminar.  This will include predictions for Edmonton’s housing marketing from our Association, City of Edmonton’s Chief Economist and CMHC Chief Economist.


If you are considering selling your home in 2020, please reach out to me early on so that we can make your home sale ready in this competitive market. If you are thinking of buying, we can provide a lot of information on the market including the inventory...is down NEARLY10%.

 

Happy Holidays!


Alison Murray, B.Com, Realtor
Cell: (780) 619-9812

Email:  Alison@infoEdmonton.ca



MLS® System Activity 2019

November 2019

M/M % Change

Y/Y % Change

SFD average selling price – month

$420,650 

-0.07%

0.24%

SFD median selling price – month

$388,200

1.70%

1.62%

Condominium average selling price

$228,113 

0.14%

3.37%

Condominium median selling price

$207,500

-1.19%

-1.19%

All-residential average selling price

$353,838 

0.08%

-2.33%

All-residential median selling price

$333,000

0.91%

-3.48%

# residential listings this month

1,860

-22.47%

-12.59%

# residential sales this month

1,101

-17.47%

-0.36%

# residential inventory at month end

7,300

-7.86%

-9.71%

# Total MLS® System sales this month

1,318

-19.04%

-1.27%

$ Value Total residential sales this month

402,993,495

-18.14%

-4.12%

$ Value of total MLS® System sales – month

462,399,935

-19.68%

-4.33%

$ Value of total MLS® System sales - YTD

6,851,845,148

7.19%

-3.58%


1 Census Metropolitan Area (Edmonton and municipalities in the four surrounding counties)

2 Single Family Dwelling
Average: The total value of sales in a category divided by the number of properties sold
Median: The middle figure in an ordered list of all sales prices
5
 Residential includes SFD, condos and duplex/row houses
6
 Includes residential, rural and commercial sales


Sources:

REALTORS Association of Edmonton

https://edmonton.ctvnews.ca/home-prices-drop-again-in-edmonton-benchmark-lowest-in-six-years-report-1.4688007

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Copyright 2020 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.