REALTORS® Association 2013 Housing Forecast is bullish on Edmonton

  

Edmonton, January 9, 2013

The REALTORS® Association of Edmonton released their annual housing forecast today at a seminar at the Northlands Expo Centre attended by 700 REALTORS® and business people. President Darrell Cook forecast that the value of MLS® sales in 2013 will increase by about 3% for the year after sales of $7 billion in 2012. This is based on a three percent increase in the number of homes sold and increased prices. Cook expects that single family homes, duplexes and rowhouses will increase on average by 2% while the average price for condos will increase by one percent next year.

“We are positioned in the best economy in Canada and perhaps the world,” said Cook. “It is hard to make a restrained forecast when we have job growth, in-migration, low vacancy rates and continuing low interest rates.”

His remarks echoed the predictions of five other speakers at the seminar including Premier Alison Redford who highlighted the value of the housing industry to the Alberta economy. Also presenting at the event were John Rose, Chief Economist for the City of Edmonton; Angus Watt from National Bank of Canada; Brad Ferguson, the President and CEO of Edmonton Economic Development Corporation; and David Lan, Senior Market Analyst from CMHC.

Cook forecast that the year-long average selling price for a single family home, sold through the Multiple Listing Service® in 2013 will increase from $382 thousand to $390 thousand. The average price for a condominium property will increase from $235,500 to $237,800. Although the inventory of available housing is low at this time of year, Cook suggested that increasing prices in the first six months will convince owners to begin listing their property and increased choice for buyers will result.

Cook suggested that, because of our solid economy, the strong interest in acreage properties will continue in 2013 and sales of recreational and vacant properties will also increase as the prices of properties in sun-belt destinations recover and local recreational properties become more comparable in price.

Commercial and industrial sales through the MLS® were up 25% in 2012 and REALTORS® expect the trend to continue next year with an increase in total value from $310 million to $320 million. There will be demand for small office/warehouse lease properties as our strong economy spawns new and expanding businesses.

The role of the REALTOR® has been much discussed in the past two years. Cook urged the members of the REALTORS® Association of Edmonton to focus on client service, education and satisfaction and to continue to demonstrate the value that the REALTOR® has brought to the community and the real estate transaction for the past 85 years.

Price Reduced $390000 5 Cote Close

5 Cote Close, Beaumont

Price Reduced below Appraised Value $390,000

SELLER NEEDS IT SOLD!!!

 

• 2003 BUILT HOME
• 1555 SQ FEET
• FULLY FINISHED BASEMENT
• 4 BEDROOMS, 3.5 BATHS
• OVERSIZED DOUBLE ATTACHED GARAGE
• MANY MORE UPGRADES!!!

MLS # E3320178

 

CALL CATHY CURRIE @ (780) 232-2178 FOR A PRIVATE SHOWING.

 

 

 

Open House 5 Cote Close Beaumont

Open House!!!

Sunday November 18th, 2012

1 - 4 P.M

5 Cote Close

Beaumont.

 

 

 

 

 

EREB press release November 2nd, 2012

Nothing Scary in Halloween Housing Market

 

Edmonton, November 2, 2012: Even with ghosts, ghouls, and goblins running through the streets, homeowners could find refuge in the local housing market. The REALTORS® Association of Edmonton reports that housing prices in October were up compared to a year ago and are the highest in October in the past five years. The all residential average price for the Edmonton Multiple Listing Service® was up 0.6% at $324,924 when compared to October 2011. The average price of a single family detached home was $372,061 up 2.1% over a year ago. Condos were priced on average at $234,177 which was an uptick of 1.8% from a month ago and up 5.4% from last October. Duplex/row house prices were down 1.1% Y/Y at $305,777.

“Homesellers are pleased that their property may be worth more than it has been in the past five years but homebuyers can plan their financing in an environment of small, steady price increases,” said REALTORS® Association of Edmonton President Doug Singleton. “The housing market is be-deviled in other centres but here in Edmonton both buyers and sellers find it heavenly. The pace of sales is steady, prices increase year-over-year, there is sufficient inventory and average days-on-market is reasonable.”

REALTORS® listed an average of 72 homes each day in October and sold an average of 44 per day. There were a total of 2,228 residential listings in October, with sales of 1,375 properties. As a result of lower listings and larger sales volumes, the month end residential inventory was down (-7.9%) from last month with 6,406 properties available. Days-on-market was an average of 61 and the sales to listing ratio was 62%. There was $447 million worth of residential property, $53 million of rural and $23 million of commercial property sold through the Edmonton MLS® in October.

“Life happens to us all,” said Singleton. “Unless you are an investor, the best time to buy or sell your home is when your lifestyle changes. No matter what your personal circumstances, your REALTOR® is here when life happens.”

Beaumont Beauty - Move in for Christmas

Honey stop the Car!!! This beautifully kept 2003 built home with the original owners is spotless. The soaring ceilings in the front entrance greet you as you enter this home. The main floor boasts all new rich dark laminate flooring, open dining area, kitchen with a corner pantry, 2 pce main floor bathroom, and the laundry area just off the kitchen. Walk to the professionally fully finished basement the rich dark laminate from the main floor follows you down there and here you will find a family room, 3 pce bathroom, 4th bedroom, and loads of storage. This basement is beautifully done!! Head up the the upper floor where you will find a massive master suite with a bay window over looking the front of the home, a large walk in closet and a 4 pce ensuite. The other 2 bedrooms are generous size and over look the cozy backyard. Other features include 8x10 garden shed, 24x22 oversized front attached garage, 12x16 Maintenance free deck, 21 pt alarm system with key fobs & a fire pit. Welcome Home!!!

Another Happy Client - Thanks Wayne Weum!!!

Hi folks, just a quick note to share a great experience I had with a Realtor in the Edmonton area:

I sourced a qualified rent to own tenant who was specific in what she needed for her growing family. A phone call to Cathy Currie from Century 21 A.L.L. Stars in Edmonton came next. She listened to what I was asking her to do, and without hesitation she immediately began to source properties that fit the criteria that we established. What set her apart was the fact that she was willing and even excited about taking my tenant buyer around to look at these properties, being ever-flexible and understanding of the clients complicated schedule. In my experience, Realtors would rather do "just about anything else" than take rent to own clients around town to look at multiple properties. Between wishy-washy attitudes and the extra effort involved with selling real estate to an investor, it makes for a lot of work.

Cathy made this experience easy. She found a perfect property, put the deal together, followed up constantly, and answered any and all questions my tenant buyer had. Cathy was professional, patient, kind, and efficient throughout the process with both my tenant buyer and myself. This resulted in an extremely low amount of work/stress for me-leaving my time open to put my JV agreement together. I would refer her to any investor who is in need of a realtor to source properties. And the airmiles were a nice touch!

Cathy can be reached via any of the following:

Cathy Currie
Century 21 A.L.L Stars Realty
312 Saddleback Road
Edmonton, Alberta
T6J 4R7
Fax: (780) 436-9902
Direct: (780) 232-2178

Office: (780) 434-4700

thehomearranger@email.com

www.cathycurrie.com

Edmonton Real Estate Board Reports.

Residential Housing Market cools in third quarter

 

 

Edmonton, October 2, 2012:
The REALTORS® Association of Edmonton reports that residential listings and sales have trended lower in the third quarter after an active start to the year. In September, there were 1,269 residential sales in the greater Edmonton market as compared to 1,442 in September 2011. Despite the recent cooling trend, residential sales year-to-date are still up 7.2% as compared to last year at this time. There have been 14,565 residential sales to the end of the third quarter as compared to just 13,729 last year.

“There were changes to the mortgage qualification rules in March,” said REALTORS® Association of Edmonton President Doug Singleton. “We did not see an effect on the local market at that time but it seems to have had a cooling effect in the past quarter.”

The average1 price for a single family dwelling (SFD) has remained higher than last year for each of the past nine months. In September, the SFD average price of $376,678 was up just 0.23% from the previous year and is up 2.78% from the January 1 price. The all-residential average price is down 2.6% from last year at $323,369. This is the first month this year that the all-res price has dipped below the 2011 figure for the same month.

Condominium and duplex/rowhouse prices are more volatile and vary widely from month to month. In September average condo prices were down 3.1% ($229,246) while duplex/townhouse prices on average were up 2.75% ($307,739). Still, after nine months both current prices are up from the January 1, 2012 prices for the category.

Total MLS® System listings this year are up 104 units as compared to last year at 33,295 properties but Total MLS® System year-to-date sales are 16,487 units as compared to 15,378 at the end of the third quarter in 2011. There are 6,956 residential properties in the inventory compared to the 8,062 last year at this time. Rural and commercial property sales are both up marginally compared to last year although listings have dropped. The residential sales-to-listing ratio was down from 56.7% to 52.3% and residential days-on-market was up to 59 in September from 54 in August.

“Sales always fall month-to-month at the end of the year; that’s just normal market fluctuation,” said Singleton. “But overall, the market has been stable with little market advantage for either buyers or sellers. Edmonton is still one of the best places in North America to own property and I urge consumers to talk to their local REALTOR® when they are in a position to buy or sell property.”

 

Activity (for all residential sales on Edmonton MLS® System)

September 2012		M/M % Change	Y/Y % change
SFD2 average selling price - month	$376,678	-2.00%	0.23%
SFD median3 selling price	$359,450	-1.50%	1.25%
Condominium average1 selling price	$229,246	-3.10%	-2.10%
Condominium median selling price	$223,000	-0.70%	0.00%
All-residential4 average selling price	$323,369	-3.20%	-2.60%
All-residential median selling price	$315,000	-1.10%	-1.60%
# residential listings this month	2,428	-10.40%	-4.60%
# residential sales this month	1,269	-17.40%	-12.00%
# residential inventory at month end	6,956	-6.70%	-13.70%
# Total5 MLS® System sales this month	1,450	-17.00%	-12.20%
$ Value residential sales this month	$410 Million	-14.20%	-14.30%
$ Value of total MLS® System sales - month	$482 Million	-12.70%	-35.70%
$ Value of total MLS® System sales - YTD	$5.68 Billion	10.10%	1.20%

¹ The total value of sales in a category divided by the number of properties sold
² Single Family Dwelling
³ The middle figure in a list of all sales prices
⁴ Residential includes SFD, condos and duplex/row houses.
⁵ Includes residential, rural and commercial sales
¹ Average prices indicate market trends only. They do not reflect actual changes for a particular property, which may vary from house to house and area to area. Prior period figures have been adjusted to include late reported sales and cancellations and therefore reflect a more accurate view of the period than previously reported at month end. The RAE trading area includes communities beyond the CMA (Census Metropolitan Area) and therefore average and median prices may include sold properties outside the CMA.