March 4th, 2014 Edmonton Real Estate Board Report

Housing Sales pick up in February

Edmonton, March 4, 2014:

 The REALTORS® Association of Edmonton reports that the housing market in the Edmonton CMA1 remains active. Residential listing activity on the Edmonton Multiple Listing Service® (MLS®) was up 7.3% as compared to January and sales increased by 24.4%. The all-residential price (includes single family detached, condominiums, duplexes and row-houses) rose 2.9% in a month.

The average condo price was up just 1.6% from January to $238,854 with the median sale price at $224,750. Single family detached homes showed stronger gains rising 2.7%, (which could be contributed to the 8 properties that sold over one million dollars in February compared to 3 in February 2013) at an average price of $425,782 in February ($416,344 in January). Duplex and rowhouse prices were also up month-over-month at $335,625 on average with the median sale price at $338,250. The all-residential average price was $359,973 (up 5.3% from February 2013) and the median sale price was $338,250.

“February turned out to be a busy month for REALTORS®,” said President Greg Steele. “Spring arrives officially this month and sales activity will continue to increase as they do every spring. The inventory of available homes has increased in all price categories and we expect numerous informed sellers to come onto the market in the face of continuing strong prices.”

The pattern of sales in various price ranges has changed this year. “Confidence in the strength of our local economy and a shortage of attractive properties at the lower end of the price range are both moving consumers to consider higher priced properties if their budgets allow,” said Steele.

At the end of February, there were 3,906 residential properties listed in the MLS® System which reflects a 10.4% increase from last month. The days-on-market was 54 as compared to 57 at this time last year. With home sales of 1,122 reported and 1,955 homes listed in February, the sales-to-listing ratio was 57%, up 2% from a year ago. Total Board sales for February were valued at $462,504,482.

10017 - 105 Street Morinville -JUST LISTED!!!

 

Blood, Sweat and tears is what these sellers have put into this home. This nearly 1000 sq ft bungalow located in the heart of Morinville has all the work done just move in. New Fence, New Landscaping/trees, Deck rebuilt, New windows, HWT 3 yrs old, Upgraded Electrical, Furnace 2008, Hardwood flooring throughout, New garden shed, Upgraded bathroom with maple vanity, granite countertop and ceramic tile, Oversized double fully finished garage with 3 season room attached with full view of the back yard, RV or toy parking on the gravel pad in the back with gate access, Fire pit, Masterbedroom with Wall to wall, floor to ceiling white cabinets with obscure glass, Living room with corner gas fireplace with oak mantle for your large flat screen TV, bright eat in kitchen with new appliances and flooring, Fresh paint, Close to schools & Shopping..This home is move in ready and has been impecably cared for by the owners..pride of ownership is obvious!! Welcome Home!!!

 

 

Up coming Morinville Listing

Listing this week...

Beautiful Morninville Bungalow!!!

 

 

Local housing sales and inventory up in stable market

 

Edmonton, February 4, 2014:

The residential home inventory on the Edmonton Multiple Listing Service® (MLS® System) rose 16% in January. Typically just over 1,800 homes in the Edmonton CMA (census metropolitan area) come onto the market in January. Last month’s listings of 1,842 were higher than the 783 listed in December. Sales figures (adjusted) of 885 properties (820 reported) were higher than a typical January and higher than sales in December and January 2013. The increased inventory of 3,537 (up from 3,049 in December), kept prices stable in all housing categories.

Compared to December, the all-residential average3 price of $347,847 was down just $1,226 or
-0.16%. Single family detached (SFD) home prices were down 1.5% at $416,344. Condominiums were priced on average3 at $230,463 (down 1.5%) and duplex/rowhouses showed the biggest movement and were down 5.3% at $336,220.

“Price stability and more property available for sale results in a balanced market,” said REALTORS® Association of Edmonton, President Greg Steele. “Right now both buyers and sellers have time to consider all their options and housing needs. More homes are listed every day and your REALTOR® can advise you of a suitable property as soon as it comes available.”

The residential sales-to-listing ratio was 45% and the average days-on-market was 61 days in January compared to 73 days in January 2013. There have been four property sales over a $1 million already this year but half of the SFDs sold in January were sold at or below the median price of $385,000.

“Strong economic indicators such as low unemployment, higher hourly wages and positive in-migration all support an optimistic view of the Edmonton and area housing market,” said Steele. “Consumers are confident in their economic future and prepared to risk a first-time or move-up purchase. Low rental vacancies and the potential for higher rental rates are also attracting investors into the market.”

There are 3,200 REALTOR® members of the REALTORS® Association of Edmonton. Consumers can view all the properties listed on the Edmonton MLS® System at www.REWedmonton.ca and review advertised properties in the Real Estate Weekly.

Congratulations to The Anaka Family

Congratulations to Melanie & Jarrod Anaka on the purchase of your beautiful New Home.

  I am looking forward to handing over your keys before the end of the year!!!!

 

 

3 Advantages of selling your home over the Holidays

Click the Link Below....Call me or send me an email if you are considering selling!!!


http://www.daveramsey.com/blog/3-advantages-of-selling-holidays/?ectid=elp.facebook.post.11-12-2013

November home sales not affected by Old Man Winter

 

Edmonton, December 2, 2013:

The sudden onslaught of winter did not slow real estate sales in November according to figures released by the REALTORS® Association of Edmonton. One month sales in November were the highest in five years. The figures are based on sales through the Multiple Listing Service® System in the Edmonton CMA.

The number of all-residential sales in the Edmonton CMA in November (adjusted to account for late reported sales) was 1,116 (1033 reported) which was the highest number of sales in the month since 2009. There were 672 (622 reported) sales of single family homes, 349 (323 reported) condo sales and 83 (77 reported) duplex/row house sales in November. Total residential sales were up 10.5% over November 2012 with SFD sales up 7.9% and condos sales up 13.7%.

“The Edmonton market continues to perform well with sales up and prices rising,” said RAE President Darrell Cook. “While home sellers welcome the active market, buyers, with good employment prospects and higher than Canadian average salaries, are not deterred as they enter the fairly stable market place.” The number of homes available for sale on the MLS® System is at the lowest level it has been in five years. There were 4,047 homes in inventory at the end of November.

The all-residential average price (representing SFD, condo and duplex/row house sales) was $346,388, up 2.6% from last month and 3.5% from November 2012. The average price for a single-family dwelling in November was $405,826 (up 2.1% M/M) and an average condo sold for $240,630 (up 2.1% M/M). The average price for a duplex/row house was $327,027 (up 0.3% M/M). Compared to November 2012, SFDs were up 2.8%, condo prices up 6.9% and duplex/rowhouses up 5.2%.

The average days-on-market was 57, up four days from last year. The sales-to-new listing ratio was 75% as compared to 77% in November 2012.

“The cold and snow make it more difficult to list and view homes at this time of year but the market is still very active with over 1,000 properties listed in November,” said Cook. “REALTORS® are always prepared to discuss your housing needs with you and advise on pricing, marketing and negotiation strategies.”