Edmonton and National Real Estate Market Returning to Normal

normal_800After a couple of years of unprecedented volatility, the housing market across Canada seems to be returning to normal.

That’s the good news reported by the CBC last Wednesday, which pointed to newly minted statistics released by the Canadian Real Estate Association. According to the numbers:

  • In November, the national average price for a home in Canada was $344,268; an increase of 2% over the same period in 2009
  • The seasonally-adjusted volume of home resales climbed 4.8% in October and November – the fourth consecutive monthly increase in a row.
  • Seasonally adjusted sales in November climbed 19.5% over the year’s lowest point in July.
  • November sales in 2010 are closing in on the average levels for the past 4 November’s (2006 – 2009) 
  • Gains were reported in 8 of the country’s 10 most active urban real estate markets, including Edmonton. Other gainers included: Calgary, the Fraser Valley, Vancouver, London and St. Thomas, Ont., Montreal, Ottawa and Toronto.

Good News for Sellers

The boost in prices and overall resale volumes is good news for sellers, who can now take advantage of the stable and growing demand for homes.

“With sales activity having returned to better health and a firm floor under prices, sellers who previously shied away from putting their home on the market are expected to list their home in response to improved housing demand in recent months." Gregory Klump, chief economist of the Canadian Real Estate Association told CBC News

Selling your Home? I’m Here to Help!

Selling your home in a strong market requires different strategies and tactics than selling in a soft or declining market. It’s more than just pricing strategies. It’s also about ensuring that your home stands out – because there’s more competition – and staging it so that you make the best possible impression, and take steps towards a smooth, stress-free and financially satisfying transaction.

So whether you’re planning to sell your home now, or it’s something that might be on your financial “radar screen” as you move to take advantage of the stronger market, call me at 780-709-0811. I have in-depth experience helping sellers, and would be delighted to help you and your family on this journey.

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The Proctor Team are very knowledgable, professional and know the market very well. We took Chris on a 1.5 year journey to find the right home for our family within the few neighbourhoods we wanted to live in . He was patient with us and we never felt the pressure to buy something and always waited for us to give us our opinion on a house before he gave us his. He also checked in on us if he did not hear from us in awhile and always kept us in mind when new listings were about to hit the market. He also threw out other options for us to think about i.e. building our own, meeting with builders etc. At the end, we bought a house that had yet to hit the market (and also was not completely done) and had the kitchen he knew I had been looking for :). He helped negotiate what we felt was a fair price.

Through the home buying process, it was evident he has alot of knowledge on what does and does not add value to a home, but also on what things to look for in a new home when it comes to construction and other details. He and Patti also sold our house. It was a unique property which made it a challenge to sell in the current market but Chris held open houses and also had the house staged at no extra cost. The initial photos were done quickly and beautifully. We felt Chris worked hard for us and treated us with respect. We look forward to bumping into you in the neighbourhood!

 

- Bonnie Islam

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