Thursday, April 4, 2013

EREB April 3rd, 2013 Report Says:

Edmonton, April 3, 2013:

The REALTORS® Association of Edmonton reports that residential property prices in the Edmonton CMA1 were up again in March. The all-residential price (includes single family detached, condominiums, duplexes and row-houses) rose 3.5% in a month and single family detached prices were up 3.9%. Compared to March 2012, the all residential price was up 4.3% and the SFD price was up 7.0%.

“The average price increases are influenced by the prices paid on particular properties as well as the product mix in the period,” said President Darrell Cook. “Because of a shortage of lower priced homes, the average price is pushed up as buyers move up-market to find a home. The increase in average price may not increase the market value of a particular property.” The relative number of homes sold in the $450-650k price range increased from 12.2% to 14.5% year-over-year while homes under $300,000 dropped from 40.7% of the market to 38.2%.

The average price for a single family detached home was $416,739 in March, condos were priced at $246,574 (up 6.3% m/m), duplex and rowhouses at $316,110 (down 4.9% m/m) and the all-residential average price was $354,759. SFD prices peaked in May of 2007 at $424,400.

The demand for homes in the Edmonton area continues to be driven by net job creation and low unemployment, economic stability and low rental vacancy rates. Sales were brisk with the sales-to-listing ratio up at 57% for March which indicates that almost six of the ten homes listed during the month were sold. Days-on-market was down from 57 in February to 50 in March.

The number of homes available for sale in the MLS® System inventory was up from 4,183 to 4,741 in March. While this is an increase of 558 properties from last month, it is down 15.4% from the same time last year. The lower inventory is exerting upward pressure on prices but has a dampening effect on sales. “When first time buyers cannot find a house that meets their needs or are forced into a multiple offer situation, they often remain on the sidelines,” said Cook. “Low interest rates and rising rental rates create the interest and desire but lack of suitable properties means they are not able to make the transition to home ownership at this time.”

REALTORS® are facing some multiple offer situations on lower-priced property but overall, the market remains in balance with neither buyers nor sellers having an advantage in most neighbourhoods.

Residential sales in the Edmonton CMA were up 1.14% in March as compared to March 2012. There were 1,497 estimated sales (1,386 reported) on listings of 2,422 during the month. SFD sales were down 6.63% from last year but condo sales more than compensated at 8.84% y/y increase. Note that sales numbers are estimated to reflect late reported sales and make a more accurate comparison with prior month actual sales.

New Listing in South East Edmonton

**Fully Renovated and even has laundry in suite** Walk through the door into this fully renovated 2 bedroom condo and you will be amazed everything is new, new, new... The dark laminate floor greets you into the oversized livingroom with lit wall niche that will hold your TV and accent some of your favorite decor. There is a brand new stacker washer/dryer and room for all your storage. The dining/kitchen are complete with ceramic tile and a brand new kitchen. The new white kitchen is highlighted with lit glass doors, stainless hardware, glass backsplash and a large contemporary stainless steel hood fan. Follow the dark laminate flooring down the hall to the brand new bathroom with a beautiful dark wood vanity, all new fixtures and a tub surrounded by Ceramic tile. Down the hall you will find 2 generous bedrooms with lots of natural light. The master has an oversized closet complete with built in shelving/dresser. The building has a brand new elevator,common areas completley updated include rock walls Only $169000











Monday, March 18, 2013

Another Happy Client

 
Congratulations to Matthew Anderson on the purchase of your new home.

Beautiful St Albert townhouse for sale

Amazing bilevel fully finished home is an end unit with nice fully fenced private yard and a small grassy park idea beside this unit. The spacious entrance with soaring ceilings welcomes you into this home. Come up the stairs where the dining, kitchen and family room are completely open perfect for entertining. The large bay window brings in plenty of light and the corner gas fireplace makes this big bright family room even more cozy the entire main living area has vaulted ceilings. The main floor boasts a large master with walk in closet, and 3 pce ensuite. The 2nd bedroom has patio door access to the private backyard. The main floor has a 4pce bath with a jetted tub and accross the hall is the main floor laundry room. Walk down the stairs to the fully finished basement where you access your double attached garage. This level boasts a 3rd bedroom with a walk in closet, a cozy sitting room and a 4 pce bathroom. Logan Place is a small complex with good access to all amenities. Welcome Home!!

30 Giroux RD 6
St. Albert, AB T8N 6R2
$295,000
MLS® ID:E3326573
Go to the URL below for full listing details including an Photo Tour and Bing Maps location.
http://www.century21.ca/Property/100842983 
Bedrooms: 3
Bathrooms: 3(Full: 3)
Sq. Feet: 1,097
Year Built: 1998
Style: Bi-Level
Contact me today for more info:
Cathy Currie
REALTOR®
CENTURY 21 A.L.L. Stars Realty Ltd.
312 Saddleback Road
Edmonton, AB T6J 4R7

Office: 780-434-4700
Cell: 780-232-2178
Direct: 780-434-4700
Email: cathy.currie@century21.ca
Website: www.cathycurrie.com

Thursday, March 7, 2013

Real Estate board Press Release

Edmonton, March 4, 2013:

The REALTORS® Association of Edmonton reports that the housing market in the Edmonton CMA1 remains active. Residential listing activity was up 10% as compared to January and sales increased by 18.2%. The all-residential price (includes single family detached, condominiums, duplexes and row-houses) rose 4.3% in a month.

While the average price for a single family detached home broke through a psychological barrier at $400,973 in February ($399,832 in January), it was up just 0.3%. Condo prices showed stronger gains, rising 7.3% from January to $231,866. Duplex and rowhouse prices were also up month-over-month at $332,285 on average. The all-residential average price was $342,735 (up 2.9% from February 2012).

“REALTORS® were busier last month than in January both listing and selling more homes,” said President Darrell Cook. “As usual, sales activity will continue to increase as we move into spring. The inventory of available homes has increased and we expect hesitant 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,” said Cook. Sales of properties priced $425,000 to $550,000 have increased 19% so far this year, whereas sales of properties in the $200,000 to $375,000 range are down 9.6% compared to the first two months of 2012.

As of February 28, 2013, there were 4,183 residential properties listed in the MLS® System which reflects a 4.14 month supply at current sales levels. The days-on-market was 57 as compared to 53 last year. With an estimated 1,089 (1,008 reported) homes sold and 1,995 homes listed in February, the sales-to-listing ratio was 55%, up 4% from a year ago. Total Board sales for February were $470,309,954.

The figures above represent the sales in the Edmonton CMA1 as defined by Statistics Canada and includes the City of Edmonton and all municipalities in the four surrounding counties of Parkland, Sturgeon, Leduc, and Strathcona. Sales figures for February 2013 have been adjusted to anticipate sales during the month which will be reported after the data cut-off so as to compare more accurately with prior period figures.

REALTORS® in the Edmonton CMA and surrounding areas (including St. Paul and Cold Lake) contribute actual negotiated list and sale prices on a daily basis and are the most reliable source of pricing data in each local area and the entire market.