Edmonton Real Estate Board New Release October 2, 2013

September housing prices up 5.4% from last year

 

Edmonton, October 2, 2013:

The REALTORS® Association of Edmonton released market housing statistics for the year to date (YTD) including the month of September. The all-residential average price for the first three quarters of the year in the Edmonton CMA is $350,741 as compared to $340,090 in 2012. In September, the all-residential average was $352,057, up 5.4% from a year ago and inching up from $351,455 in the previous month.

Year-over-year sales were also up 19.4% with 1,466 (adjusted, 1,357 actual) all-residential sales in September. There were 13,691 residential sales in the Edmonton CMA in the first three quarters of 2013 as compared to just 12,876 sales at the same time last year.

“Our members report that the market is very active with many properties attracting multiple offers,” said President Darrell Cook. “The increases in the Alberta population are driving the market and because of the steady sales there are inventory shortages at the lower price ranges.”

There were 926 (adjusted, actual 857) single-family detached sales in September at an average price of $408,642 (up 3.9% Y/Y) as compared to 773 sales a year ago at an average price of $393,374. Condos sold on average in September for $243,655 (438 adjusted sales, 406 actual), up from $224,330 last September (up 8.6%). Duplex/row house sales were up with 79 (adjusted ,73 actual) sales, valued on average at $338,250 ($316,973 last year).

“Average sales prices are the highest they have been in five years,” said Cook. “Combined with the highest sales numbers since 2012, we have year-to-date residential sales values totaling $4.8 million. Strong market fundamentals, increasing population and the persistence of low mortgage rates have convinced many buyers that an investment in real estate is secure.”

The September sales-to-listing ratio of 65% was the result of 2,089 residential listings and 1,357 residential sales. The inventory of available homes on the Edmonton MLS® System was down from 5,557 units in August to 5,111 units in September. It took 54 days on average (up one) to sell a home in the Edmonton area. A REALTOR® has access to all the latest market data and effective marketing tools and is the best source of real estate advice for both buyers and sellers.

4708-47 Avenue Leduc... New Price $339,900

Central downtown Leduc. 1449 sq feet Fully finished bungalow. 5 bedrooms, eat in kitchen, formal dining area. upgrades include newer kitchen cabinets, all new flooring, new vinyl siding, new windows, new bathroom fixtures, newer furnace & HWT, sump pump installed, Oversized detached garage with new roof, side driveway can accomidate at least 4 vehicles. The side entry to the fully finished basement could be perfect for a future suite.

7931 - 14 Avenue in Summerside Just Listed $394,695

Welcome to this Immaculate, 2006 built, 2 storey home in the sought after community of Summerside. Walk through the front door and the main floor family room greets you with warm accent painting and a fresh white fireplace mantle with TV Niche complete the space. The kitchen is open to the rest of the main floor and boasts maple cabinets, an island with a raised eating bar and plenty of counter space. Overlook the cheerful dining area from the kitchen all the while having a view of the cozy backyard. The upper level has 2 bedrooms in warm rich modern colours with a full bathroom. The master suite at the front of the house has a walk in closet and a 4 pce ensuite. Take a few steps down on your way to the basement and pass the 2 pce bathroom then continue on to the fully finished basement. The basement has oversized windows, laminate flooring, Laundry room, Loads of storage and another 3 pce bathroom and a recreation room. Summer will never be the same in the community of Lake Summerside!!!

New Rutherford Listing $315,000

Mr and Mrs Amazing taste live here..It is like your walking into a showhome!!! This 2006 built duplex boasts nearly 1200 sq feet. Walk through the door and the rich dark hardwood floors guide you through the main floor of this impeccably decorated home. The kitchen has plenty of cabinets and counter space Have your morning coffee at the eating bar which is open to the dining area and living room that has a corner gas fireplace that is tastefully tiled and a mantle that will accomidate any size TV. Walk up the newly carpeted stairs where you will find 3 bedrooms all beautifully presented and a main 4 pce bathroom. The generous master bedroom has a huge bay window with a view of this nice quiet neighborhood. The backyard has a cozy deck and is fully fenced and private. The basement is partially finished and awaits your completion.

August 2nd, 2013 Edmonton Real Estate board Press Release.

Edmonton experiencing robust housing market

 

Edmonton, August 2, 2013: Sales of residential properties are up in double digit increments in all categories when compared to last year, according to the REALTORS® Association of Edmonton. Total residential sales in July were up 24.9% year-over-year with 1,875 sales (1,736 reported). Sales figures are adjusted to account for unreported transactions at month end. Prices were also up year-over-year in all categories.

The average price for a single family detached (SFD) property in the Edmonton Census Metropolitan Area (CMA) in July was $410,372, down 0.5% from June but up 3.4% from a year ago. Condominium average prices dropped 7.4% m/m but were up 2.6% y/y at $242,516. Duplex/row house prices were up 8.6% y/y (down 2.8% m/m) at $330,906. The all-residential average price in the Edmonton CMA in July was $350,726 (down 2.5% m/m, up 3.3% y/y).

“These are the highest figures for July that we have seen since 2009,” said President Darrell Cook. “Prices and sales have peaked for the year and the month-over-month numbers are lower than June but when compared to last year our market is very robust. Although listings are up over the same time last year, our inventory has slipped by almost 250 units. Going forward, some buyers may have to consider compromises to find their new home in this market.”

The sales-to-listing ratio of 68% was the result of 2,543 residential listings and 1,736 residential sales in July. The total value of real estate sales through the Edmonton Multiple Listing Service® System in July was $814 million; up 18% from July 2012.

Environics Analytics, a Toronto-based data analytics firm, reported last week that the average net worth of an Edmonton household** was $433,970 in 2012, up 1.6% from 2011 as compared to the Canadian average net worth of $400,151.*

“Despite the rain and flooding in Alberta last month, the housing market has thrived,” said Cook. “Edmonton has jobs, housing options, and an economy that is attracting newcomers to the city and ensuring that current residents have an appealing lifestyle.”

The average days-on-market was down one from July 2012 at 49 days, which means that an average sale was completed in about a month and a half.

Congratulations to Mike & Chrystle Gillies

SOLD..SOLD..SOLD

 

Congratulations to my clients Mike & Chrystle on the purchase of your beautiful lake community property. You have been amazing clients and an absolute pleasure to work with!!!

 

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The soaring ceilings and grand entrance welcome you to this magnificant Summerside home. The grand formal living and dining area greet you with dark hardwood floor, soaring windows and is entirely open to the railed hallways of the 2nd floor. The gourmet kitchen is located at the back of the house with a cozy family room so perfect for entertaining. The main floor is rich and beautiful with dark cabinets, rich wood builtins, custom painted ceilings and crown mouldings.The double french doors welcome you to a main floor den. Walk the grand staircase to the upper level greeted to an upper loft that over looks the main floor formal living. This floor contains 4 bedrooms each with its own full bathroom, the 2nd bedroom has its own access to the upper level covered patio. Walk to the fully finished basement where a bonus room welcomes you before you enter the double doors into the suite.The seperate entrance from the side door via the garage leads you to a 2 bedroom, large living, tiled kitchen.AMAZING!!