Edmonton Real Estate Blog - Market & Financial News

October Market Update: Balanced Supply, Stable Prices

Consistency is the name of the game when it comes to Edmonton’s real estate market in October. 

A single family home in the Edmonton Census Metropolitan Area (CMA) sold for an average of $423,755, which is down 1.8% year-over-year (y/y). Condo prices were up slightly by 0.5% y/y at $245,698. All residential property prices remained mostly unchanged, down 0.6% from October, 2015. 

“The housing market in Edmonton continues to experience relative stability, with increased sales and steady prices year-over-year for October,” said Steve Sedgwick, Chair of the REALTORS® Association of Edmonton. “We typically see the market slow during the colder months, so it is encouraging to see us moving into late fall with strong numbers.” 

“We’re seeing buyers…

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September Market Update: Stable Amid Economic Uncertainty

Last month, Edmonton’s housing market continued to remain stable amid economic uncertainty in the province.  

September’s all residential average sale price in the Edmonton Census Metropolitan Area (CMA) increased by 1.5% year-over-year (y/y). The average price of single family dwellings remained fairly consistent at $430,461 y/y (down 0.2%), while average condo prices also remained flat at $251,365 (down 0.5% y/y).

According to Steve Sedgwick, Chair of the REALTORS® Association of Edmonton, “We are moving into the quieter real estate months with a healthy inventory, strong prices and slower listings and sales.”

“It continues to be a good time to buy. We usually see less inventory coming into winter months, so it is beneficial for buyers to…

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August Market Update: Stable Despite Marginal Dips

The all residential average sale price in the Edmonton Census Metropolitan Area (CMA) remained consistent with last year at $369,956. Single family detached homes also saw stable year-over-year pricing, having decreased by less than 1% to $434,362. Similarly, average condo prices were down 1% from August, 2015, to $251,526.    

All residential sales in the Edmonton CMA were sitting at 1,433 units reported sold compared to 1,555 last year. Single family home sales were also down to 861 from 929 in 2015. Similarly, condo sales were down to 406 units sold from 466 in 2015. In addition, new residential listings were down 6% year-over-year.

According to Steve Sedgwick, Chair of the REALTORS® Association of Edmonton, “Alberta’s economy has been under…

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How the Summer Olympics Are Impacting Real Estate in Rio

Image via report.az

When it comes to sporting events, it doesn’t get much bigger than the Olympics. With years of planning and preparation, millions (and even billions) of dollars are spent on building new infrastructure, as well as on promoting the host city on a global scale. This year’s summer Olympics have placed the spotlight on Rio de Janeiro, Brazil, and the games are now underway. The globe is not only watching the games, but everything happening within the country before, during, and even after the big event.

The Proctor team has been examining the real estate market in Rio and how it has been affected by one of the world’s most coveted athletic shows. Here’s what we’ve discovered:

A Reason for Concern

The Olympic athlete’s…

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July Market Update: Strong, Stable Pricing in Edmonton Area Despite Slower Sales

The all residential average sale price for the month of July remains strong at $384,504 while single family homes saw an increase in average price of 3% to $450,366. Although overall condo sales were 30% lower last month than they were in July, 2015, the average condo sale price remains roughly the same, while the median sale price increased by 6.1%.

“We can attribute much of the average price increase to the strength of high end home sales. When we look at the median price of residential properties, we see a clearer picture of what is happening to prices. The median sales price for all residential is up less than a percent from last year. We are continuing to see strong stable pricing throughout the Edmonton region despite slower sales,” says…

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How Realtors are making use of the popular Pokemon Go Game

Within weeks of being released Pokemon Go, the augmented reality mobile game that was popularized in the 90s, has become a a global phenomenon. Wherever you look, whether online or in the real world, there's no shortage of people looking for Pokemon or talking about Pokemon Go. And in that same short time, as you can see below, businesses are picking up on the craze, and using it to promote themselves! 


But as a real estate agent, I was wondering: are agents using it? The short answer is yes. Pokemon stops, pokemon gyms, and pokemon in general, have quickly become a selling point to use on listings. Here's a few examples of how real estate agents are using the cultural phenomenon known all around the world!
1) This realtor isn't messing around:…

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Market Update June: Prices stay level, despite a slowing of sales for the month.

During the month of June, 3,041 new residential listings were added to the Edmonton Census Metropolitan Area (CMA). Although the number of residential units reported sold was flat month-over-month, June saw 1,117 single family sales, down 16 per cent from this time last year, but almost identical to the number of reported sales in May, 2016. Reported condo sales were up 11.5 per cent month-over-month at 465 units, but still down 23.6 per cent from last year. 

“Although June’s residential unit sales are up slightly over May, we did not see the numbers set in June of 2015. Also notable is that the sustained lull in sales we have seen over the past two years has not been reflected in average price. Continued sales of higher priced properties in the region…

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5 home projects that are easier than you think (and 2 that aren't)

We love a good do-it-yourself (DIY) project—especially one that can increase the value of a home with little investment. What we don’t love is committing to a project we think will only take an afternoon to complete, but ends up consuming our entire summer. Avoid a DIY disaster by effectively evaluating all the steps involved in completing a renovation or home improvement job correctly.

If you’re looking for a home project to get started on, here are five that you can confidently roll up your sleeves for and conquer. We’ve also highlighted a couple of projects you should definitely leave to the professionals!

Refresh with paint

One of the easiest ways to update your home is to give it a fresh coat of paint. You can save yourself a lot of money by…

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How To Navigate A Buyer's Market

There’s no doubt that it’s buyer’s market in Edmonton right now. All the signs are present: inventory is high, home builder ads are getting bigger (with more attractive offers!), and mortgage rates are low. Here is how to make the most of this market if you’re on the hunt for a new home, and if you’re selling – well, be sure to keep these seller’s tips in mind.

Buying a Home

1. Take the time to do your research on what you want in a home. Think about all the features you’re missing in your current home and the details you’d hope to include in your new place. Do your research on which areas of the city you are interested in, which neighbourhoods you prefer, and which amenities you would like to be near. Because there is more supply than demand at…

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Market update for the month of April: Inventory up, but prices stable!

Despite the rising inventory, and a “buyer’s market,” prices remain stable in April. This is great news for sellers who have been concerned with selling in this type of market. 

REALTORS® Association of Edmonton Chair Steve Segwick said, “Buyers continue to have a great selection of properties to choose from and sellers need to be competitive with their listings. Continued lack of significant movement in the average house price is a good signal that Edmonton’s economy is strong."

The average SFDH prices in Edmonton sold for $439,982, which was slightly up over March’s and April 2015’s sales price. Listing and sales volume were down for SFDH were down year-over-year, but up from the previous month. 

“New listings were slightly down in…

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