W. Jeffrey B. Scott, B.Comm., REALTOR®

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Edmonton, March 8, 2013: Today, the REALTORS® Association of Edmonton Commercial Division released for the first time a semi-annual update on commercial real estate activity within the City of Edmonton. The report includes a synopsis of commercial and industrial activity over a five-year period and details of various sub-sectors as recorded in Land Titles records when the title to the property is transferred to the buyer.

 

The total number of sales of commercial and industrial land and buildings in Edmonton in 2012 was the highest in five years at 648 sales. The value of those sales, at $2.45 billion, was marginally lower than the five-year high point in 2011.

“Edmonton has recovered from the economic woes that depressed the 2009 market period,” said Mike Eurchuk, Chair of the Commercial Division. “There has been a sharp increase in land sales and the multi-family market is at a five year high.” The number of land transactions is up 33% from 2011 and the value of the land sale is up $139 million. There were 81 multi-family unit sales in 2012 valued at $227 million (up 6% from 2011).

 

The number of transactions and the total value was up in every sub-sector including multi-family, industrial and commercial buildings; industrial, commercial, urban development and multi-family land; and industrial/commercial condominiums.

 

“The fact that there is an increase in the sale of land indicates the optimism in this market,” said Eurchuk. “Business people are not just buying existing property for immediate use but are investing in land for future developments at both the commercial and industrial levels.”

 

Economic forecasts would indicate that the Edmonton area will continue to exhibit strength in 2013 with growth levels on par with 2012 being projected. Demand is expected to remain high in virtually all sectors of the market and particularly in investment type properties where there is considerable institutional money chasing few properties.

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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 attractiveproperties 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.

 

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MLS® System Activity (for all-residential sales in Edmonton CMA1)

 

1 Census Metropolitan Area (Edmonton and surrounding municipalities)
2 Single Family Dwelling
3 The total value of sales in a category divided by the number of properties sold
4 The middle figure in a list of all sales prices
5 Residential includes SFD, condos and duplex/row houses.
6 Includes residential, rural and commercial sales 

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W. Jeffrey B. Scott, B.Comm., REALTOR®
  • Office: 780 439 7000
  • Mobile: 780 716 6321
  • Fax: 780 439 7248
  • RE/MAX River City
  • 301-10171 SASKATCHEWAN DR
  • Edmonton, AB
  • T6E 4R5 Canada