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

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Edmonton, AB: March 23, 2015: Breaking news. Unbelievably, he's finally on FaceBook & still committed to providing the best customer service possible via all mediums!!

 

https://www.facebook.com/jeffreyscottrealestate

 

Vive!

 

JS

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Edmonton, December 2, 2014: Mother Nature has made her mark and announced that winter is upon us. With the freeze comes the natural seasonal cooling of the market. There were no surprises in month-end Multiple Listing Service® sales figures for November released by the REALTORS® Association of Edmonton today. The all-residential average sales price of $381,371 was up 4.3% from last month and up 9.9% from last November. Single family detached homes sold on average for $442,884 which is 3.76% higher than October and up substantially from last year’s $406,587. Condominium average price ($255,167) was down 2% month-over-month (from $260,491) but up 5.3% from a year ago (from $242,371).

 

The average days on market went down for all residential properties from 57 last year to 54 days this November, with sales taking slightly longer in the single family and rowhouse categories and significantly faster (12 days) in the condominium market. Year-to-date, homes are selling about 5 days faster this year than last.

 

As expected, sales numbers are down month over month for all categories, with 1,137 all residential properties (1,228 adjusted) selling in November compared to 1,505 in October. Following the normal seasonal trend, inventory is down 12% month over month and down 4% year-over-year.

 

Million dollar plus homes still remain a very strong segment this month with over 1% of the market share. These higher priced homes are accounting for a significant portion of the average price increase. Total residential sales are up 11% year-to-date over last year at the same time.

 

 “The housing market has been very strong and robust this year. We are expecting to see continued growth in housing sales for some time, but at a slower and more stable pace,” said REALTORS® Association of Edmonton President Greg Steele. “It has been a great year for Real Estate. As we do every year, we expect things to cool off as the temperature drops, but we always have new homes listed and sold over the winter months. People move when life happens, which does not necessarily correlate with warm weather.”

 

 

Highlights of 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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Edmonton, November 2, 2014: The Edmonton area has been blessed with a beautiful fall and the local housing market has followed the weather trend. The fall months always tend to be a quieter market, but this year sales remained strong a little longer than usual. Edmonton Census Metropolitan Area (CMA) total residential average prices remain stable (up 8.5% over last year) thanks in part to an incline in sales of higher priced houses.

 

The seasonal slide is reflected in the dip in single family sales, down 12% from last month at 850 sold (918 adjusted).  While still up almost 8% from last year, single family prices dipped down from $436,870 in September to $426,848 in October, a difference of 2.3%.

 

With an average price of $260,491, condos actually gained a bit of momentum going up 2.6% month-over-month and 9.75% year-over-year. Duplex/row house prices were also up month-over-month at $352,907.

 

In October, 2,049 residential properties were listed which is up 18.6% from last year. 1,412 were reported sold (1,525 adjusted) in the Edmonton CMA. Total days on market for all residential properties were down 3 days over October of 2013.

 

The demand for single family homes in the $350,000 to $400,000 remains high with 185 properties selling in this range in October. However, inventory is tight at the $350,000 to $400,000 mark with only 227 available properties available as of October 31. “We have seen a lot of action this year in houses under $400,000. People may need to adjust their expectations when looking at houses in this range. There is a big demand for properties at this price point and with a light inventory, you may need to wait a bit longer to find the right house for you,” explains Greg Steele, President of the REALTORS® Association of Edmonton.
 
Another “hot” market is houses priced over a million dollars. “We have seen this trend throughout 2014. Almost 2% of the single family dwellings sold last month were over a million dollars. Compare that to last October where less than one quarter of 1% of the sales were over a million.” Steele said. 125 million dollar plus homes have sold in 2014 compared to 94 at this same time last year and 75 in 2012.   

 

 

Highlights of 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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Edmonton, October 2, 2014: Reports of the impending burst of the so called “housing bubble” have homeowners looking closer at housing prices this month. While it makes for an exciting story, the numbers just don’t back up the claim. Edmonton Census Metropolitan Area (CMA) continues to see the stable market we have enjoyed over the past few years.

 

The steady gain year-over-year in housing prices is reflective of a stable and strong market. Average prices, listings, and sales are all up from September of last year. The average days on market for residential properties remained the same as August at 49 (down from 54 days the same time last year). While inventory is still down 6% from September 2013.

 

The average price for a single family dwelling (SFD) in the Edmonton CMA in September stayed strong at $435,584 (down a mere 0.04% from August). Condos were down 3% month over month at an average selling price of $254,494. Duplex/row house prices were up 0.3% to $350,983 and the total residential average price was up 0.8% from August at $372,673.
 
In September, 2,193 residential properties were listed and 1,568 were reported sold (1,693 adjusted) in the Edmonton CMA. Single family dwelling reported sales were up 4.7% from last month at 967 (1,044 adjusted) while condos were down 3.6% at 452 (488 adjusted).

 

We normally see a decrease in sales and average price when fall arrives. The strong market we saw in August continued on into September with surprisingly little to no changes in prices.” said Greg Steele, President of the REALTORS® Association of Edmonton. “There is a false idea out there that people only buy houses in the spring and summer. People buy and sell their houses when the time is right for them. Consulting with your local REALTOR® is the best way to see if the time is right for you.”

 

The number of homes listed for sale in September was 8% higher than the same month last year. The sales-to-listing ratio was 72%: up from 67% last month.

 

Highlights of 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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Edmonton, September 3, 2014: The City of Edmonton has grown by over 60,000 people in the past two years according to the recent municipal census. Surrounding communities are also growing because of the strength of the Alberta economy. The pressure on housing is forcing real estate prices and sales volumes up and shortening the time it takes to sell a home, according to the REALTORS® Association of Edmonton.

 

The total value of residential real estate sales through the Edmonton Multiple Listing Service (MLS®) System has increased almost 14% compared to the same time last year. Over $5.7 billion worth of homes have been sold compared to $5.0 billion last year at the end of August. New arrivals to Edmonton have pushed the number of homes sold so far this year up from 13,377 to 14,858; an 11% increase. Average days on market was just 49 days in August compared to 53 last year.

 

“Our members are kept busy finding and selling homes for our clients,” said REALTORS® Association President Greg Steele. “There has been some pressure this summer with a tight inventory of available homes and lots of new customers but low interest rates and new construction are enabling people to find a suitable home in the Edmonton area.”  

 

The average price for a single family dwelling (SFD) in the Edmonton CMA in August was $435,430 (up 1.9% over July) and condos sold on average for $262,273; a 3.1% increase. Duplex/row house prices were down 2.7% to $349,590 which limited the average all-residential sales price to a 2.0% increase at $368,597 in August compared to July.

 

In the last half of the summer, residential sales were down compared to July from 1,999 to 1,552 units. Single family sales were down 15.4%, condo sales were down 20.8% and duplex/rowhouse sales were down 11.8% in the month. Total sales were down 6.0% when compared to August 2013.

 

“We move into the fall with 5,334 residential properties in the inventory and a vibrant market,” said Steele. “Homebuyers and sellers are encouraged to work closely with a REALTOR® to find a suitable home in their preferred neighbourhood and price range.”

 

The number of homes listed for sale in August was 4.2% higher than the same month last year. The sales-to-listing ratio was 67%: slower than the 75% last August.

 

Highlights of 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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Great article & I can't disagree!

It’s well-known that Alberta is a great place to live, but having the numbers to back up the claim up never hurts. Alberta’s Office of Statistics and Information released some new data Thursday that give a glimpse into what makes this province so special.

 

Here’s what the numbers tell us:

Don’t live in Alberta yet? You likely will. The province’s population grew 3.5 per cent in 2013, three times the rate of the national average, and is now home to more than four million people.

 

Where is this population growth coming from? Many new Albertans arrive from Eastern Canada, but the province also absorbs a significant proportion of Canada’s new immigrants. As of 2011, immigrants made up 18.1 per cent of Alberta’s population. Between 2006 and 2011, Alberta became home to 12.4 per cent of newcomers to Canada.

 

So, why are so many people coming to Alberta? Besides the Rocky Mountains, the golden plains and its thriving capital city, there’s also a good deal of money to be made. Albertans are Canada’s highest average weekly earners, making $158.66 per week more than Newfoundlanders, who come in a distant second. Albertans make an average of $1,108 a week (not including overtime), 22 per cent higher than the national average. And of Alberta’s immigrants, most seem to prefer living in major cities, with more than 50 per cent flocking to Calgary and 35 per cent to Edmonton.

While we’re on the subject of moving, if you’re new to Alberta or planning to relocate, you might be better off heading south to Medicine Hat, where the average monthly rent of a two-bedroom apartment is about $1,300 cheaper per month than similar apartments in Fort McMurray, where the average lease is $2,061. If you prefer the big cities, Edmonton offers a slight discount to renters at $1,180 per month compared with Calgary, where the average two-bedroom apartment rent is $1,267.

 

If you welcomed a bundle of joy in a pink blanket, she’s more likely to see the turn of the century than babies wrapped in blue. The average life expectancy for baby girls is 84, while baby boys are expected to live closer to 80 years.

And whether you’ve got sons, daughters or both, their prospects for educational success look good. Last year, 75 per cent of students graduated high school within three years, and 82 per cent earned their diploma within five years. Higher rates of high school graduation seem to be the trend. Since 2008, the rates of graduation have increased every year.

 

More and more Albertans are also pursuing higher education: 62 per cent of Albertans aged 25 to 64 had post-secondary credentials such as degrees, university certificates, college diplomas, trade certificates and apprenticeships, an increase of eight per cent in 10 years.

 

Albertans may be well off, but an overwhelming majority also give back. Nearly 84 per cent of Albertans said they volunteered last year, particularly in sports and recreational activities. Almost half of Alberta’s volunteers were involved in coaching, officiating or organizing recreational activities, 32 per cent volunteered at places such as food banks, seniors centers and international aid organizations, 18 per cent were active in arts and cultural organizations and 16 per cent gave their time to youth development volunteer work.

 

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Edmonton, August 5, 2014: The REALTORS® Association of Edmonton reports that the Single Family Detached (SFD) average price in July was down 2% from June at $426,716 and the All Residential average price was off 2.6% from June at $362,091 in the Edmonton Census Metropolitan Area (CMA). Condo prices were stable month-over-month at $254,654 and duplex/rowhouse average prices rallied with a 5% lift to $360,309.

 

“Like the shortening summer days and the appearance of fall fashions, real estate prices begin to soften at this time of year,” said REALTORS® Association President Greg Steele. “Despite the seasonal slide, prices in the Edmonton area are still up when compared to the same month last year. The local market continues to be very active and REALTORS® report having a busy month.”  

 

Year-over-year, the average SFD price was up 3.9% compared to July 2013 and the All Residential average price was up 3.3%. Average condo prices were up 4.6% from a year ago and duplex/rowhouses were up 9.2%.

 

Residential sales were up year-over-year from 1,835 in July 2013 to 2,013 (up 9.7%) with SFD sales (1,179) up compared to the same month last year by 4.8%. Condo sales of 639 units were up 15.4% and duplex/row house sales were up 27.7% compared to July 2013. Current month sales are adjusted to account for late reported sales.

 

“The demand for real estate remains strong and in line with other market fundamentals,” said Steele. “Fortunately, year-to-date listings are also up compared to last year and there is adequate supply with over 5,600 residential properties in inventory.”

 

The average days-on-market was up slightly to 46 days in July as compared to 41 days in June. The sales-to-listing ratio was 69%: slower than the 75% last July.

 

REALTORS® represent buyers and sellers of residential, commercial and industrial property throughout the greater Edmonton region and from Cold Lake to Drayton Valley, from Westlock to Wetaskiwin. There are just over 3,200 REALTOR® members of the association serving over 40,000 clients a year.

 

Highlights of 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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Edmonton, July 3, 2014: Sales of all types of residential property in the Edmonton Census Metropolitan Area (CMA) were up almost ten percent as compared to the same mid-year point in 2013. According to the REALTORS® Association of Edmonton there were 11,595 residential properties sold this year through the local Multiple Listing Service® (MLS®) compared to 10,556 sold by June 30, 2013. Prices also rose year-over-year; the value of sold property increased 15.3% from $3.6 billion to $4.2 billion.

 

In June, the average price of a single-family detached (SFD) property in the CMA dipped 0.7% to $435,534 month-to-month. The all-residential average price was $371,839; down 0.2% from May.  Throughout the CMA, the average price for a condominium rose 0.6% from May to $254,182.

 

“The average price has been fairly stable this year with relatively small market fluctuations from month-to-month,” said REALTORS® Association President Greg Steele. “When compared to last year at the same time however, average prices are up and we have established new peak prices for single-family detached homes for the past five months.”  

In June, the average price for a SFD home was $435,534, which is down marginally from the new historic peak set in May of $438,506. Condominium average prices were up 0.6% from May at $254,182 but did not hit the June 2013 peak of $258,383. Duplex/row house prices dipped 1.7% from May at $343,198 and the all-residential average price was down 0.2% to $371,839.
 
Overall, YTD residential listing activity was up 6.9% compared to last year at this time, with sales up 9.8%. The increased sales put downward pressure on the inventory, resulting in a month end inventory of 5,704 available homes (4.7 months of available inventory at current sales levels).

 

“The new higher pricing plateau that we have seen this year has motivated more homeowners to put their home on the market resulting in increased choice for home buyers,” said Steele. “But properties move quickly in this market and buyers must work closely with their REALTOR® to catch the ideal property when it comes into the market.”

The average days-on-market was just 41 days in June and the YTD average of 45 days, compared to 47 last June. The sales-to-listing ratio was 66%: slower than the 72% last June.

 

REALTORS® represent buyers and sellers of residential, commercial and industrial property throughout the greater Edmonton region and from Cold Lake to Drayton Valley, from Westlock to Wetaskiwin. There are just over 3,200 REALTOR® members of the association serving over 40,000 clients a year.

 

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Highlights of 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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Edmonton, June 3, 2014: Members of the REALTORS® Association of Edmonton list and sell homes on the local Multiple Listing Service® (MLS®) from dozens of towns and counties in the local area. REALTORS® are active in every community from Wetaskiwin to Westlock and from Wabamun to Cold Lake. This month we report on average prices in some of the larger centres as well as Edmonton; but first the Census Metropolitan Area (CMA) numbers. 


In May, the average price of a single-family detached (SFD) property in the CMA was up 2.2% to $438,279. The all-residential average price was $371,871; up 1.6% from April. Throughout the CMA, the average price for a condominium dipped 0.13% from April to $251,688.

 

There were 2,137 adjusted all-residential sales (1,979 reported) in May 2014 compared to 1,998 sales in April. There were 3,388 residential properties listed in May compared to 2,978 last month. The overall sales-to-listing ratio in May was 58% and average days-on-market was 41. End-of-month residential inventory was 5,634, up 14.7% from April.

 

“People who bought at the peak have not been able to realize their original purchase price until these prices surpassed the earlier peak,” said REALTORS® Association President Greg Steele. “Now people are confident in the market and feeling comfortable about making a move and those houses are being listed. There are homes for sale all throughout the Edmonton region and SFD prices vary from $221 thousand to $463 thousand on average.”  

 

The most active regions are St. Albert and Sherwood Park with 103 and 102 sales respectively last month. Total sales in those communities represent about 14% of all SFD sales in the Edmonton MLS® System. Year-over-year sales in Beaumont (up 55%), Westlock (up 78%), and Fort Saskatchewan (up 24%) show the highest growth while areas in the northeast (St. Paul, Bonnyville, and Cold Lake) have declined because of a shortage of inventory and price escalation. SFD sales in the City of Edmonton are up just 2.4% Y/Y.  

 

As you might expect, average housing prices tend to decrease as you move further away from the city. Average prices are lowest in Wetaskiwin and Westlock which are both about an hour’s drive from Edmonton. Closer in, St. Albert and Sherwood Park command the highest prices with Beaumont clambering to join that price club. All real estate is local and an average price increase may not reflect a change in value for an individual property. 

 

“Generally housing prices are rising in the Edmonton area,” said President Steele. “There may be slightly different trends in some communities with occasional dips and bumps but there are local REALTORS® operating in each community who can advise buyers and sellers about pricing and marketing strategies that are right for that location.” See the attached chart for details of pricing and sales changes in 12 communities outside Edmonton.

 

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Highlights of 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

 

Sales/Prices of Single Family Detached properties in May 2014 in Edmonton Region

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North Central remains busiest sales region of Edmonton

 

Edmonton, May 2, 2014: According to the REALTORS® Association of Edmonton the average price of a single family home (SFD) in the Edmonton Census Metropolitan Area (CMA)1 in April has dropped slightly from the high in March, even with the sale of 13 homes over a million dollars.

 

In April, the average SFD price was down more than $5,000 to $427,685; a decrease of 1.5% from March but up 5.9% from the same month a year ago. The all-residential average price was $365,045; up 0.4% from March and up 4.5% from a year ago. The higher SFD prices this year have put pressure on affordability and increased demand at the lower price end of the market. The average price for a condominium rose 1.1% from March to $251,300 (up 2.8% Y/Y).

 

There were 1,983 adjusted all-residential sales (1,836 reported) in April 2014 compared to 1,689 sales in March. Listings also rose in all categories to fill the demand which is common for this time of year. There were 2,977 residential properties listed in April compared to 2,548 last month; an increase of 16.8%. The overall sales-to-listing ratio in April was 62% compared to 60% last year and average days-on-market was 42. End-of-month residential inventory was 4,910, up 11.3% from March.

 

“The Edmonton CMA is experiencing the highest job and population growth in Canada and that should continue for the foreseeable future,” said President Greg Steele. “Edmonton is a diverse city and housing options exist in all price ranges but competition at the lower-priced end of the market is increasing. Entry level buyers may have to be a little more patient or scale back their expectations to find the home they can afford.”  

 

The most active region of Edmonton is North Central north of Yellowhead Trail between 66 Street and 142 Street where there were 167 sales in April;  an increase of 0.6% over March and 23.7% over last year. Fully 20% of all SFD sales were in North Central in April. Areas in the Southeast, Southwest, and South of the Anthony Henday each had sales of about 140 SFD properties in April. The only region of the city to see a decrease in the number of sales year-over-year was the Southeast (Millwoods).

 

The highest priced homes were located, as usual, in the Southwest region but they saw an 8.7% drop in April compared to March. Homes in the West and Anthony Henday regions also saw price drops month-over-month. Homes in the North, Central, and Southeast were all sold on average below the city–wide average while homes in the West and southern regions (except Southeast) were priced $50,000 or more above average. (Next month we will feature outlying communities.)   

 

“New housing is being built all around Edmonton but the biggest region of new home construction is south of the Anthony Henday,” said President Greg Steele. “Because this housing is often sold directly by the builders and not listed on the MLS® System, our figures do not include many of these sales. Buyers should ask their REALTOR® to show them new home options in these areas as well.” 

 

Highlights of 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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Edmonton, April 2, 2014: The REALTORS® Association of Edmonton reports that the housing market in the Edmonton Census Metropolitan Area (CMA)1 is poised for a very active spring sales period. Sales of all types of residential properties in the first quarter in the Edmonton CMA were up 5.8% as compared to the same period in 2013. Single family detached (SFD) sales were up 5.1% while condo sales rose a staggering 11.0% in the first quarter.

 

“We expect that sales will increase from month-to-month as we approach the second quarter,” said President Greg Steele. “But this year-over-year increase is an indicator of the high demand for housing in this market. Price rises will follow the demand and we can expect active competition for desirable properties.”

 

There were 3,679 all-residential sales from January to March 2014 compared to 3,478 sales in 2013. SFD sales rose from 2,099 to 2,206 while condo sales in the first quarter jumped from 996 to 1,106. Listings also rose to fill the demand. There were 6,324 residential properties listed so far this year compared to 6,086 last year; an increase of 3.9%. Listings of SFDs rose 5.5% Y/Y while condo listings dipped by half of one percent. The overall sales-to-listing ratio in the first quarter was 58% compared to 57% last year.

 

Despite the increase in Y/Y listings the available inventory at the end of March was down 6.9% at 4,413 residential properties as compared to March 2013. The turn-around time on sales reflected the busy marketplace with average days-on-market in March at 44 days; down from 51 in March 2013.   

 

“Strong sales indicate consumer confidence in the Edmonton marketplace,” said Steele. “The high condo sales and low condo listings indicate the demand for lower priced properties and first time buyers are choosing condos as an option to lower-priced SFDs which are in high demand and short supply.” He pointed out that REALTOR® figures do not include the sale of many new homes and condos which are sold directly by builders and not through the Multiple Listing Service® (MLS®).

 

Overall, month-over-month average sale prices were stable. The all-residential price moved down less than half of one percent from $363,281 to $361,870. SFD average prices were also down fractionally from $433,205 to $432,458 and condos saw price increases of 3.6% from $238,376 to $247,005 on average. Duplex/row house prices were down from $338,024 in February to $331,038 in March.

 

REALTORS® have two days to report the sale of a property and end-of-month sales figures may not include sales in the month which were not yet reported. As a result the sales figures are adjusted to account for the late reported sales. There were 1,678 adjusted sales (1,554 reported) of residential properties in March compared to 1,224 (actual) sales in February. This is an increase in activity of 37%. Single family sales are adjusted to 990 (917 reported) and adjusted condo sales were 512 (474 reported).

 

Total residential sales volume for the first quarter of 2014 is $1,322,289,827. Total sales through the MLS® (including rural and commercials sales) were $1.7 billion so far this year compared to $1.6 billion in 2013.

 

Highlights of 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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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.

 

 

Highlights of 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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Edmonton, January 8, 2014: The REALTORS® Association of Edmonton released their annual housing forecast today at a seminar at the Northlands Expo Centre attended by 600 REALTORS® and business people. President Greg Steele forecast that the value of MLS® sales in 2014 will increase by about 3% for the year after sales of $8 billion in 2013. This is based on an overall increase in the number of homes sold and increased prices.

 

Steele expects that the sale of single family homes in Edmonton will be static, at about 10,500, but that sales in the rest of the CMA will increase by about 1,000 units. The number of sales of condo, duplex and rowhouse sales will increase by 2.5% throughout the region as these properties become the de facto entry point for first time buyers.

 

Prices, as usual, will fluctuate through the year but the 12-month average price for a single family detached property is anticipated to increase about 3%. Condominium property average prices are projected to increase about 2% over the year.

 

“Market growth is always good for the seller who can expect to see a capital gain on their property,” said REALTORS® Association of Edmonton, President Greg Steele. “But it is also reassuring for the buyer who can expect steady growth upon entering the market.”

 

His remarks echoed the predictions of seven other speakers at the seminar including John Rose, Chief Economist for the City of Edmonton; James Cumming, the President and CEO of Edmonton Chamber of Commerce; and Christina Butchart, Senior Market Analyst from CMHC. The mayors of the counties of Parkland, Leduc, Sturgeon and Strathcona also gave presentations about the expected growth in their respective county.

 

“The REALTORS® Association of Edmonton operates throughout the Edmonton Capital Region and beyond. We have the same rules and operating procedures throughout the region so that clients can be assured of similar practices and conditions no matter where they transact real estate,” said Steele. “Quite frankly, we promote our organization to all the municipalities in the area as a model of good cooperation and business practice.”

 

There are 3,200 REALTORS® operating in the greater Edmonton area which extends as far as Cold Lake, Wetaskiwin, Drayton Valley, Vegreville and Westlock.

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Edmonton, January 6, 2014: Sales of residential property through the Edmonton Multiple Listing Service® (MLS®) System in 2013 in the Edmonton CMA were almost eight percent higher than in 2012. From 2011 to 2012 the number of sales increased 6.2%. There were 17,055 residential sales reported in 2013 as compared to just 15,812 in 2012.

 

Sales were up in all residential categories with 10,487 SFDs sold in 2013 (up 3.4%) along with 5,059 condominiums (up 14.7%) and 1,144 duplex/rowhouses (up 18.2%). First-time buyers accepted the condo lifestyle as a way to get into the housing market. Compared to 2012, the percentage of SFDs sold dropped from 64% to 61.5% of total sales while condo sales increased from 28% to 30%.

 

The higher sales numbers were driven by the strong local labour market, continuing low mortgage rates, and a stable pricing environment. The 12-month, all-residential average price in 2013 was $350,208, a modest 2.95% increase over the 2012 price of $341,891. Median prices increased from $331,000 from $323,000, only a 2.48% lift, indicating that there was increased activity at the mid-market price point this year.

 

“REALTORS® report that there has been a shortage of lower-priced homes all year which has pushed value conscious buyers up-market or into condos,” said REALTORS® Association of Edmonton, President Greg Steele. “New home builders are trying to fill the void by building more condos and single family homes at lower price points.”

 

The all-year sales-to-listing ratio was 69% with average day-on-market at 53 days. The active market was highlighted by a year-end inventory of just 3,049 properties: a drop of 1,000 from the month previous.

 

During the month of December, the price of a single family detached property rose 4.4% from $405,826 in November to $423,544 in December. Condo prices dropped 2.4% in December to $234,967 while duplex/row house prices shot up 9.8% to $358,978 (following a marginal uptick the month previous).  Overall, the average all-residential prices was up just 1.1% to $350,208 when compared to the previous month. December sales (adjusted for late reported sales) were: SFD – 471, condo – 271, duplex/row house – 45, and total residential sales 805.

 

“Now that the hectic holiday season is over, listing and sales activity will pick up as it always does,” said Steele. “Buyers are urged to take advantage of the low mortgage rates while market conditions are favourable and to consult with their REALTOR® about the advantages of a resale home or condo in any of the communities in or around Edmonton.” 

 

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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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.”

 

 

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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Edmonton, November 4, 2013: The REALTORS® Association of Edmonton released market housing statistics for the month of October based on sales through the Multiple Listing Service® in the Edmonton CMA. The all-residential average price in the Edmonton CMA is $337,599 as compared to $332,232 in October 2012, a +2.5% change. The median price for a home in Edmonton is up at $327,250 compared to $315,600 last October.

 

All-residential sales totalled 1,454 (adjusted for late reported sales, 1,346 reported) in October, a positive change of 15.6% from the same month last year when there were 1,258 residential sales. There were 888 (822) adjusted SFD sales, 449 (416) adjusted condo sales and 90 (83) adjusted duplex/rowhouse sales (reported sales in brackets).

“Total annual sales are the highest they have been for five years and we had the best October in five years as well,” said RAE President Darrell Cook. “There is a 74% sales-to-listing ratio which means that sellers have a better than usual expectation of selling their property. At the current level of sales there is adequate inventory (4,807) for 2.7 months which is lower than normal in this market. The youthful nature of our city (average age 36) and good job prospects means that the demand for housing remains high.”

 

The unemployment rate declined from 5.2% in August 2013 to 5.1% in September 2013. City of Edmonton economist John Rose states that; “These numbers demonstrate that Edmonton has become one of Canada’s most attractive locations for individuals seeking work.”

 

The average price for a single-family dwelling in October was $397,613 (up 2.5% Y/Y) and an average condo sold for $235,680 (up 2.1% Y/Y). The average price for a duplex/row house was $326,195 (up 5.2% Y/Y). Median prices for SFDs was $375,000, for condos $222,750 and for duplex/rowhouses, $318,900.

 

“The first time buyer or young person moving into this market will often choose a condo because of the lower price point,” said Cook. “About 60% of all condo sales are under $250,000 and that represents 17.6% of all residential sales. Condos priced over the average price of a SFD represent only 1.5% of total residential sales.” There were 584 SFDs sold for under $250,000 which is less than 4% of all residential sales.

 

The average days-on-market was 54, down from 60 days last year. For real estate advice or further explanation of the market conditions, consult a REALTOR®. 

 

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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Edmonton, September 4, 2013: The local housing market will not feel any pressure from the recent mortgage rate increases, according to the REALTORS® Association of Edmonton. Several of the major banks increased their mortgage rates in August because of changes in the bond market. The higher rate will increase the monthly payments on a typical mortgage or decrease the total amount that a buyer can borrow from their financial institution.

 

“Buyers applying for a mortgage now may have to buy a slightly less expensive property than before because their qualification amount may be lower,” said President Darrell Cook. “In the short term, any reduction in the number of buyers will be made up by the potential buyers becoming more motivated to buy before their pre-approval period ends.”

The all-residential average* price in the Edmonton CMA in August was up a quarter of a percent from last month at $351,455. The average price for a single family detached (SFD) property in the Edmonton Census Metropolitan Area (CMA) in August was $416,494, up 1.5% from July but up 5.4% from a year ago. Condominium average prices were also up by 0.9% at $244,675. Duplex/row house prices rallied in August after a price dip in July at $337,745 (up 2.1%).

As compared to August 2012, prices of all types of residential property were up: SFD up 5.4%, condos up 3.8%, and duplex/rowhouses up 12.1%. The all-residential average price was up 3.7% over the same time last year.

 

“Our market continues to exhibit strong fundamentals,” said Cook. “Rental vacancy rates are low at about 1.2%, new home starts are up and weekly take-home pay rates are the highest in Canada. The upward pressure on housing prices will be moderated by the seasonal decreases as we approach winter.” Despite the increases, housing prices in Edmonton continue to be affordable, mainly because of the higher average incomes.

 

The sales-to-listing ratio of 65% was the result of 2,299 residential listings and 1,490 residential sales in August. The inventory of available homes on the Edmonton MLS® System was down from 5,834 units in July to 5,557 units in August. It took 53 days on average to sell a home in the Edmonton area.

 

The total value of MLS® sales YTD is the highest it has been in five years at $5.8 billion as a result of stronger sales numbers and higher prices overall.

 

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


1 Census Metropolitan Area (Edmonton and municipalities in the four surrounding counties)
2 Single Family Dwelling
3 Average: The total value of sales in a category divided by the number of properties sold
4 Median: The middle figure in an ordered 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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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 Edmontonian 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. 

 

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


1

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

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Edmonton, July 3, 2013: In the first six months of the year, housing prices in the Edmonton Census Metropolitan Area (CMA) showed slow, steady increases. According to the REALTORS® Association of Edmonton, the all-residential average price was up 5.6% from the average price on December 31, 2012. Compared to June 2012, the current average price is up 4.2%.


“Economic conditions in the Edmonton area are generally positive and this is reflected in our local housing market,” said President Darrell Cook. “Prices have risen slowly through the first six months and there is nothing in our local economic trends to indicate that this period of stability will change.”


The average all-residential price for the Edmonton CMA in June was $359,631. This was up 0.8% from May 2013. The average price of a single family property in June was $412,269, up 2.3% from last June when the price was $402,840. Condominium prices followed a similar path with June prices at $261,854 compared to a year ago at $240,822.


The inventory of available residential properties on the MLS® System has increased over the past two quarters and is currently at 6,078 properties. Never-the-less, this is still lower than the inventory of 6,435 homes recorded at the end of June 2012.


“Higher prices and a shortage of inventory in some categories have limited the number of sales,” said Cook. “We are seeing some instances of multiple offers, however buyers looking at higher priced properties are taking their time to study the market with their REALTOR® before making an offer on the property that matches their needs.”


The all-residential sales figures for June are down 1.5% year-to-date when compared to 2012 with 8,664 sales so far in 2013 as compared to 8,792 in 2012. There were 1,840 residential properties of all types sold in the Edmonton CMA in June and 1,800 sold in June 2012. Single family detached sales of 1,080 were off 4.9% from last year. Condominium sales were up in the first half because of a lack of lower priced single family properties. There were 470 condo sales in June compared to 536 in June 2012. There were 116 duplex/row house properties sold in June. Note: all sales numbers are estimated to reflect late reported sales.


The average days-on-market for all residential property was up to 47 days from 45 days in May and the sales-to-listing ratio was 63% in June, up from 53% last month.

Highlights of MLS® System activity:

MLS® System Activity                                         JUNE      M/M %      Y/Y %
(for all-residential sales in Edmonton CMA1)           2013      Change      Change
SFD2 average3 selling price – month                   412,269    -1.40%       2.34%
SFD median4 selling price – month                     380,000    -2.00%       2.15%
Condominium average selling price                      261,854   10.18%       8.73%
Condominium median selling price                      242,500     6.36%       6.83%
All-residential5 average selling price                    359,631     0.79%        4.17%
All-residential median selling price                      338,475     -0.30%       4.07%
# residential listings this month                             2,710     -14.99%      -0.77%
# residential sales this month                                1,704      0.89%       -5.33%
# residential inventory at month end                       6,078      0.83%       -5.55%
# Total6 MLS® System sales this month               2,306     -2.49%        -5.61%
$ Value Total residential sales this month             $720M      16.4%        -8.95%
$ Value of total MLS® System sales – month       $840M      0.35%         -0.40%
$ Value of total MLS® System sales - YTD           $4.11B     28.4%         -0.01%

 

 

 


1 Census Metropolitan Area (Edmonton and municipalities in the four surrounding counties)
2 Single Family Dwelling
3 Average: The total value of sales in a category divided by the number of properties sold
4 Median: The middle figure in an ordered list of all sales prices
5 Residential includes SFD, condos and duplex/row houses
6 Includes residential, rural and commercial sales
3Average 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 sales 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. For information on a specific area, contact your local REALTOR®.


The REALTORS® Association of Edmonton (Edmonton Real Estate Board), founded in 1927, is a professional association of real estate Brokers and Associates in the greater Edmonton area. The Association administers the Multiple Listing Service®, provides professional education to its members and enforces a strict Code of Ethics and Standards of Business Practice. The Association also advertises property listings and publishes consumer information on the Internet at www.REALTOR.ca and www.ereb.com, as well as in the Real Estate Weekly and on their web site at www.rewedmonton.ca. REALTORS® support charities involving shelter and the homeless through the REALTORS® Community Foundation.


Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).

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This is something interesting:

http://blogs.edmontonjournal.com/2013/06/04/edmonton-tops-national-city-rankings-calgary-ranks-fourth/

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