We are seeing increased prices across the board – Single Family Houses, Condos, and Row houses, however the number of sales have slowed down, but what does all this really mean?
Single Family detached homes are basically seeing for every 2 listings on the market 1 is selling within average time of 48 days.
Condos are seeing approximately for every 5 listings 2 are selling within the average time of 60 days.
Row Houses/Duplexes are also seeing approximately for every 2 listings 1 unit is selling in an average of 64 days.
In summary the number of sales are down overall from April 2016 but we are seeing a promising increase in activity. Average Sales prices are up, the number of days properties are listed on the market are unchanged and overall…
Edmonton's real estate market continues to strengthen even into the winter months and even more impressive November's average sale price was second highest all year, with the exception to the month of July. Single family homes and duplex/rowhouses saw increases in overall prices though condos experienced a minor decrease in price, not bad for November!
In our experience winter months bring serious buyers and sellers, so if your thinking about making a move contact our team to discuss your options.
Good news for Edmonton’s real estate market – prices are stable and holding steady. We are seeing slight decreases in price but overall we seem to be in a balanced market. Many sellers we meet seem to be holding off until the new year to list their properties so 2017 is looking promising! If you are interested in buying or selling call us first to discuss your options and how the current market conditions will affect you.
Edmonton real estate prices continue to be fairly flat with very slight decreases compared to August and this time last year. Going forward, the chair of the REALTORS® Association of Edmonton says “We expect to see listings and sales slow as winter approaches. We may begin to see the effects of slight downward pressure on prices, but do not expect to see any drastic movement as our market continues to remain stable. Sellers can expect to wait a little longer than previous years for their property to sell.”
For single family homes it took on average 54 days to sell with an average price of $430,461 and a median price of $397,250. This represents a slight decrease in average price of .9% compared to August, and .24% compared to September of 2015. Sales…
Announced today by the Government of Canada's department of Finance, home-buyer's are going to see some changes in how their mortgage application is processed come October 17, 2016. This comes as no surprise with recent news that Canadians are taking on more than they can handle when it comes to financial debt. These changes will ensure home-buyers qualifying for mortgages can actually afford them. All Canadian Insured mortgages (mortgages that have less than a 20% down-payment), this is not mortgage insurance, will now have to undergo a "stress test". Prior to this change, 5 year fixed mortgages were exempt from this approval process but this is coming to an end. You now MUST qualify for the Bank of Canada's current benchmark rate which is currently…