• Edmonton Home & Condo Specialist
    Edmonton Home & Condo Specialist



Pent-up demand, and home is more important than everResidential Unit Sales up 35.55% compared to September 2019.



Most buyers who had planned to purchase in the spring put their plans on hold during March, April and May. More people are now becoming comfortable resuming their search, due to lifting restrictions, more safety precautions, and 3D home tours. Due to the pent-up demand and record low interest rates, the Edmonton real estate market saw an increase in sales this summer, which carried right into September.
 
While the market hasn't yet settled into a 'new normal', and the pandemic has had a severe impact on oil prices and employment, spending time in a home you love is more important than ever.
Good news: The numbers of purchases are back in line with previous years. However, some sub-markets have varied with pricing from last year.
 
See the full REALTORS Association of Edmonton report below for September's stats.


Total residential unit sales in the Edmonton Census Metropolitan Area (CMA) real estate market for September 2020 increased 35.55% compared to September 2019 and decreased 0.21% from August 2020. The number of new residential listings is up year over year, increasing 10.37% from September 2019. New residential listings are up month over month, increasing 5.90% from August 2020. Overall inventory in the Edmonton CMA fell 15.15% from September of last year and decreased 4.04% from August 2020.

For the month of September, single family home unit sales are up 42.79% from September 2019 and stayed the same as August 2020 at 1,188. Condo unit sales increased 7.26% from September 2019 and decreased 2.21% from August 2020.

All residential average prices are up to $376,571, a 7.14% increase from September 2019, and up 0.54% from August 2020. Single family homes sold for an average of $440,020, a 4.73% year-over-year increase from September 2019, and a 0.11% increase from August 2020. Condominiums sold for an average of $232,237, a 6.74% increase year-over-year, and prices are up 1.34% compared to August 2020. Duplex prices dropped 0.89% from September 2019, selling at $340,519, which was a 0.58% decrease from August 2020.

“The Edmonton market has seen an increase in year-over-year unit sales, compared to a slight decrease in month to month sales,” says REALTORS® Association of Edmonton Chair Jennifer Lucas. “There have also been more sales of single-family homes, condos and duplexes compared to September of last year, while we’ve seen stable or decreasing month over month sales in all markets, which is typical for this time of year. Single family home pricing increased 4.73%, duplexes are down 0.89%, and condos are up 6.74% year-over-year.”

Single family homes averaged 47 days on the market, a twelve-day decrease from last year. Condos decreased to an average of 65 days on the market while duplexes averaged 52 days on market, a fifteen-day decrease compared to September 2019. Overall, all residential listings averaged 53 days on market, decreasing by 10 days on market year-over-year and one day compared to the previous month.


Edmonton, October 2, 2020: 

MLS® System Activity 2020  
September 2020
 
M/M % Change
 
Y/Y % Change
(for all-residential sales in Edmonton CMA1)      
SFDaverage3 selling price – month $440,020 0.11% 4.79%
SFD median4 selling price – month $400,000 -2.44% 4.79%
Condominium average selling price $232,327 1.34% 6.74%
Condominium median selling price $218,000 1.40% 9.00%
All-residential5 average selling price $376,571 0.54% 7.14%
All-residential median selling price $353,000 -0.62% 7.56%
# residential listings this month 2,981 5.90% 10.37%
# residential sales this month 1,872 -0.21% 35.55%
# residential inventory at month end 7,248 -4.04% -15.15%
# Total6 MLS® System sales this month 2,386 0.00% 39.04%
$ Value Total residential sales this month $736,447,527 0.30% 44.80%
$ Value of total MLS® System sales – month $880,354,871 -0.09% 46.05%
$ Value of total MLS® System sales - YTD $5,887,591,108 17.49% 1.28%



(REALTORS ASSOCIATION OF EDMONTON MEDIA RELEASE)

Read full post

COVID-19 EDMONTON REAL ESTATE SERVICES

Edmonton Realtors are taking every precaution to minimize the risk of exposure as we continue to assist buyers and sellers. Here are some protocals and important information from Real Estate Council of Alberta (RECA) that  we have passed on to our clients to .help reduce the spread of illness.


We have noticed a slowdown in the market over the past month and a half, but we are still working with buyers and getting offers. It is our priority to get your home sold and although volume is down, sales are still happening. 

Showing Tips For Sellers and Buyers


1. Sellers and buyers are  requesting health and recent travel information from potential buyers and their professionals before any showing to give the seller an indication of any risk. Buyers and sellers are obligated to either be truthful or simply decline to answer. Seller that they have no duty to show the property if they are uncomfortable with any presented risk* (RECA).


2. If you have become ill or must self-quarantine please inform your agent as soon as possible. In this instance, the Realtors Association of Edmonton requires a temporary withdrawal of your listing from the MLS system. A typical withdrawal would last 10 days, but we are  allowing a longer temporary period. During a temporary withdrawal, the total “Days On Market” does not increase. The number of “Days On Market” will begin again once the listing is active again on the market. If you require a temporary withdrawal, please let your agent know so they can put together the necessary documents.  (RECA).


3. Set out obligations and procedures for viewings and home inspections in writing.


4. We create a marketing video showing a tour of the house to reduce the number of viewings.


5. We offering a virtual video tour so that you can consider only allowing viewings for serious buyers.


6. Making viewings conditional on buyer’s and their representatives wearing nitrile gloves, masks, or the use of anti-microbial, alcohol-based hand sterilizer, depending on the availability of these items. Remember the viewing terms may be subject to negotiation between the parties, and may be impacted by the availability of gloves, masks, etc.


7. Please leave all lights on, blinds and window coverings open, and interior doors left open before a showing.


8. Please do not be present for showings.


9. Remember to disinfect all door knobs, and switches after the showing.


10. If your home is being photographed for listing purposes, please note that photographers will not proceed if the home owner is present. They also will not switch on any lights, lamps or fireplaces, or pick up or move any miscellaneous items left out. Homes will be photographed as-is, so please take extra time to prepare. Our stagers can walk you through the items that need to be addressed.


11. Real estate professionals should not enter into new seller representation agreements that include hosting of open houses until the risk of COVID-19 spread is reduced and government lifts COVID-19 restrictions (virtual open houses are not impacted by this)  (RECA).


12. We use electronic signatures for signing documents.


13. You can conduct financial transactions and real estate closings electronically.


14. If in person meetings are required, maintain a safe distance of at least six feet (two meters) at all times for viewings and inspections:

a. take steps to limit the surfaces people will need to touch

b. require all visitors to wear gloves and masks, if available.


Please reach out if you’d like more information on how COVID-19 is affecting the Edmonton Real Estate Market. And please, stay strong and safe.


Alison Murray, B.Comm

Remax Real Estate

C. 780.619.9812

E. Alison@infoEdmonton.ca

Read full post



Edmonton’s housing market saw steady home buyer demand to begin March and a leveling off of activity as the month went on and concerns about the COVID-19 outbreak intensified.


Many of the sales recorded in March were in process before the provincial government declared a state of emergency.

 
“The Edmonton market prices have declined in March and we saw a slight decrease in year-over-year unit sales,” says Realtors® Association of Edmonton Chair Jennifer Lucas. “Of course, with the outbreak of a global pandemic and a hard hit to Alberta’s oil and gas sector, this type of market slowing is not surprising. There have been fewer sales of single family homes, condos and duplexes than in March of last year. Single family home pricing decreased -4.64%, duplexes are down -6.28%, and condos are up +2.50% year-over-year.”

The Realtors Association of Edmonton reported that all residential home sales in the region Edmonton Census Metropolitan Area (CMA) for March 2020 decreased -2.59% compared to March 2019, and increased +10.31% from February 2020. For the month of March single family home sales were down -2.02% from March 2019, and up +13.59% from February 2020.  Condo sales decreased -2.04% from March 2019 and increased +1.41% from February 2020.

All residential average prices were down -3.78 % from March 2019, and down -1.97% from February 2020. Average single family home prices saw a -4.64 % decrease from March 2019, and a -5.13% decrease from February 2020. Condominiums sold for an average of $218,613, a +2.50% increase year-over-year, and prices were up +2.87% compared to February 2020.
  • All data from REALTORS Association of Edmonton

Realtors were named among the province’s list of essential services. This means that we have a responsibility to do what we can to help residents meet their housing and shelter needs while strictly following the most up-to-date public health orders and physical distancing requirements from our health officials and government agencies. We are trying to work with them to address these needs in the safest and most responsible way possible with home buying and selling protocols.

With physical distancing, it is important to minimize visits to your home in order to minimize the risk of infection for you and others. The following are recommended options from the Real Estate Council of Alberta (RECA) and Alberta Health Services for you to consider:


  • using video or 3D tours to create a virtual viewing opportunity in lieu of having an open house, or to limit viewings to serious buyers
  • screening potential buyers before scheduling viewings—ask about their health and recent status to determine the risk
  • placing conditions such as a need to wear masks and gloves
  • create a plan for disinfecting your home after every showing

Every buyer and sellers’ situation is different. If you are planning on making a move in the next year, please contact me directly with any questions you have.  As a REMAX Edmonton Realtor, I have over 15 years’ experience in creating successful selling and buying strategies in both increasing and declining markets.  And, I am hear to help!



Warmest regards,


Alison Murray, B.Comm, REALTOR

REMAX REAL ESTATE

C. 780.619.9812

E. Alison@infoEdmonton.ca

Read full post

 

Every season brings a change to the Edmonton real estate market and the autumn months are no different. Edmonton realtor stats are showing fewer unit sales while the average residential price in October for the Edmonton Census Metropolitan Area (CMA) is up 1.72% year-over-year.

 “Inventory is still higher than average, which has given buyers a larger selection and more time to make their choice,” Mabey said. “We will likely see average days on market grow as long as the inventory remains higher than last year.”

Total listings are up 10.68%, providing a greater supply, while sales are down 3.85% which indicates a lower demand.

Edmonton Real Estate Market Stats

  • There were 7,691 MLS listed properties sold in October, which is a decrease of 7.11% from last month, September 2017, and an increase of 7.7% from October 2016. 
  • New listings in October decreased -15.64% compared to last month, September 2017, and increased 10.68% compared to last year, October 2016.
  • The all residential average unit sale price was $370,484, which is an increase of 0.06%% compared to last month, September 2017.

Edmonton Single Family Homes and Duplexes / Rowhouses

  • Single family homes averaged at $431,654, which is an increase of 0.23% compared to last month, September 2017.
  • Single family home average selling price increased 1.44% compared to October 2016.
  • The DOM for single family homes increased up to 55 days in October from 53 days in September.
  • Duplexes and rowhouses average price was $340,740, which is down 0.55% compared to last month, September 2017.
  • The duplex/rowhouse average selling price increased 1.15% compared to October 2016.

Edmonton Condo Market Stats

  • 326 condos were sold in October compared to last month, September 2017, when 355 units were sold.
  • In October 2017, Edmonton condos averaged at $242,887, which is a decrease of 3.74% compared to last month, September 2017.
  • The condo average selling price decreased 0.45% compared to October 2016.

 

Avg. Selling Price

October 2017

M/M % Change

Y/Y% Change

SFDs

$431,654

0.23%

1.44%

Duplexes/rowhouses

$340,740

-0.55%

1.15%

Condo

$242,887

-3.74%

0.45%

 

Thinking of selling your condo or home?

If you are thinking about selling your home now, or in 2018, be sure to consult with an Edmonton Realtor early on to help you prepare for the best-selling results. Find someone who knows your market so that you are priced right, who can give staging advice, and who will professionally market your home until it is sold.


Please call or email me if you need any help!


Alison Murray, BCom

Remax Real Estate
Direct: 780-619-9812
Email: Alison@InfoEdmonton.ca

Read full post

 

Edmonton Market Report Spring 2017, Edmonton Realtor, Edmonton Condos, Edmonton Real Estate

The new season is bringing signs of life in the outdoors as well as in the Edmonton real estate market for Edmonton realtors.  The Edmonton Real Estate Board released its quarterly report last week and things are looking promising.

“We generally see activity in the housing market start to increase at this time of year,” says James Mabey, REALTORS® Association of Edmonton Chair. “Buyers can look forward to more inventory to choose from and sellers can count on more buyers in the marketplace.”

“It is promising to see positive movement in the condo market. We have seen a large increase in both new and resale inventory, so it is good to see sales starting to follow suit,” says Mabey.

Edmonton Listings, Sales and Prices

  • There were 1,474 MLS listed properties sold in March which is an increase of 31.8 % from last month, February 2017, as well as an increase of 1.8% from March 2016. 
  • New listings in March reached 3,080 which was an increase of 26.7% compared to last month, February 2017, and an increase of 1.4% in March 2016.
  • Average prices are increasing in all categories compared to last month, February 2017.
  • The all residential average unit sale price was $371,680 which is an increase of 3.1% compared to last month, February 2017.

Edmonton Single Family Homes and Duplexes/Rowhouses

  • Single family homes averaged at $439,139 which is an increase of 3% compared to last month, February 2017.
  • Single family home average selling price increased 0.49% compared to March 2016.
  • The DOM for single family homes decreased from 58 days in February to 50 days in March.
  • Duplexes and rowhouses average price was $348,806 which is an increase of 0.41% compared to last month, February 2017.
  • The duplex/rowhouse average selling price increased 3.2% compared to March 2016.
  • The DOM for duplexes/rowhouses decreased from 80 days in February to 67 days in March.

Edmonton Condos

  • 389 condos were sold in March compared to last month, February 2017 when 357 units were sold.
  • In March 2017, Edmonton condos averaged at $242,632, which is an increase of 3.86% compared to last month, February 2017.
  • Edmonton condos are selling faster – the DOM decreased from 74 days in February to 67 days in March.

 

Avg. Selling Price

March 2017

M/M % Change

Y/Y% Change

SFDs

$439,139

3.04%

0.49%

Duplexes/rowhouses

$348,806

0.41%

3.20%

Condo

$242,632

3.86%

-3.11%

 

Days On Market

March 2017

February 2017

March 2016

SFDs

50 days

58 days

49 days

Duplexes/rowhouses

67 days

80 days

62 days

Condo

67 days

74 days

58 days

Average

57 days

65 days

53 days

Thinking of selling this spring? 

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 professionally market your home until it is sold.

Call or email me if you need any help!

Alison Murray
780-619-9812

Alison@InfoEdmonton.ca

www.InfoEdmonton.ca

 

Read full post

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

Read full post

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

Read full post

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

Read full post

The Real Estate Council of Alberta (RECA) is arranging to implement a rule change that will make written service agreements mandatory between brokerages and clients.  What this means is that all Edmonton Realtors will have to enter into a written service agreement when working with buyers.   A mandatory service agreement is already required when selling Edmonton Real Estate.

When using a Realtor to help you with your biggest investment of a lifetime the key professional services that you receive are, the nuances of the process (specific to the market you are in) and advice on features and faults that you may miss.  I have worked within BUYER AGENCY SERVICE AGREEMENTS for over 9 years and have found that there are many benefits to having a service agreement that assure a professional service for buyers, sellers and Realtors: 

Improving Education & Professionalism:  A Realtor is a professional who is hired to help people with their largest financial investment and should carry out their business in a professional matter. By outlining exactly what each other’s roles are and responsibilities, a buyer will have a better understanding of the process and services involved.  This education creates a dialogue about how a Realtor would be getting paid which is also very important. 

This is all good news for buyers when purchasing real estate in Edmonton, and other Alberta cities.  Things have not changes with respect to the market norm - the seller still pays for the buyer’s real estate fees.  The buyer’s fees still normally come out of the transaction and are paid by the seller upon closing. In my opinion this just makes sense….. it is very diffucult for a buyer having to come up with cash for a down payment on a property, and to come up with cash for real estate services.  Since most buyers use a Realtor to help them with the buying process, as a seller, it would be in my best interest to market my home with a buyer’s agent fee to assure that I don’t illiminate this huge pool of qualified buyers.  Read more detail by visiting... Buying Edmonton Real Estate

Read full post
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.