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Edmonton, November 4, 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)

October 2014

 

M/M % Change

Y/Y % Change

SFD2 average3 selling price – month

$426,848

-2.30%

7.80%

SFD median4 selling price – month

$399,894

-1.30%

6.90%

Condominium average selling price

$260,491

2.60%

9.80%

Condominium median selling price

$241,000

-3.90%

8.70%

All-residential5 average selling price

$365,520

-1.90%

8.50%

All-residential median selling price

$350,000

0%

7.10%

# residential listings this month

2,049

-6.60%

15.40%

# residential sales this month (reported)

1,412

-15.60%

-0.49%

# residential inventory at month end

4,473

-7.00%

-7.00%

# Total6 MLS® System sales this month

1,939

-8.62%

0.10%

$ Total value MLS® System residential sales - month

$594 million

-11.10%

8.80%

$ Total value MLS® System sales – month

$703 million

7.80%

6.90%

$ Total value MLS® System sales – YTD

$8.4 billion

9.90%

15.90%

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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Here is a great video of how to transform your small home into the modern day home!  


On http://houseandhome.com/tv, Sarah Hartill explains how she transformed her compact family home into a chic open-concept space with an addition. Learn her favourite space-saving details and budget tips, and watch how Sarah creates a personal look with a mix of custom details and Ikea cabinetry.

 

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Here are some great tips on saving for your first home!



1. Set up an automatic transfer.

Before you decide on what you are going to do for the weekend, make sure you set up an automatic transfer to your savings account. The less you have to think about saving, the less likely you will be intimidated by it. Let the money transfer before you even see it go into your savings.

 

2. Move back home with your parents.

Many people hate this advice, but it can be extremely cost effective, especially if you are spending more than 30 percent of your income of income on housing. Remember that everything is temporary. If you are able to convince your parents that you would like to move back home to save money for a great investment like a home, you have a greater chance of being able to stay with them and save big bucks.  Just make sure that you don't spend all of your savings on going out all of the time tryine to get away from those parents that have kindly let you live with them to save money for a house.

3. Cut back on significant spending.

Find ways to save more and sacrifice less. For example, cutting back on your latte from Starbucks can save you hundreds of dollars. A venti Caffe Latte from Starbucks costs on average of $4.95. The average full-time employee works 213 days per year. Consuming Starbucks everyday can cost you $1287. If one bought a 240-serving bin of Folgers with 20 gallons of milk and one bag of granulated sugar, you would be spending  about $100 You can save a total of $1187 each year with more servings to spare just from making coffee at home.

 

4. Find a roommate.

If you have a spare room, find a roommate to help split the costs of housing.

5. Find a second income.

You will be amazed how a few extra dollars at a time will help you. I’m sure we know how annoying tiny fees from banks siphon our accounts. Now, you have the same power to replenish your accounts. If you are working, see if you can take a part-time job. Even working as an Uber driver, where you can set your own hours, every few weekends can help buff your bank account.

 

6. Search for a starter home.

It would be nice for your first home to be a $300,000 house. Unfortunately, that cannot happen to everyone. Sometimes, thinking about buying less means more. You can always upgrade into a bigger home, when you have the funds.

7. Find the same home in a different neighborhood.

You can save money and buying power by doing research on neighborhoods and looking for a house in a good transitional neighborhood. A good transitional neighborhood is a neighborhood where the houses are at a lower costs, but have been rising value in recent months or years. Check out my website or contact me for more information.

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Which Bathroom Remodel is your favorite?

 

 

 

So are you ready to remodeling your bathroom extravaganza or maybe you’re just want idea on what you should make your bathroom look. If you in that case, continue to view our posts, we found a few of our select “Exotic Bathroom Remodeling”.

Have more space

 

To have a fresh look, opening up a bit of room when remodeling your bathroom can give off an exotic look. Take a look like the one you seeing above. Notice how many space this bathroom has, also the framed tub with tile aligned in a wonderful curved display.

 

 

 

Totally Custom

 

Bathroom remodeling exploit is never completed we wish you to create something unique with your own design and colors. Creativity is main to a norm peace of mind. The choices are endless whether you do it yourself or hide a professional. Know what you want and stick to your own budget. If you need more bathroom remodeling ideas, send us a message we can give you more.


*Bathroom Remodeling Tip – Never be afraid to call a pro to do the remodeling for you.

 

 

 

Color Pattern

 

If you looking for easy affordable bathroom remodeling designs then just switched up the currently colors and using a different style. Using different colors or style online will be the easiest way to find the best color you never though about looking good together.


*Bathroom Remodeling Tip: Always ask a professional.

 

 

Have No Limit

 

Don’t just stop there. Bathroom remodeling usually get a bit more fun with the right style. Especially using your own style and your own creativity can seriously transform your bathroom into artwork. Gorgeous custom bathroom remodeling designs can all found over the Internet. If you having trouble on which style or how to create your creativity, feel free to search the net for style that will fit you.


*Bathroom Remodeling Tip: Sizes always everything. Measure everything before buying and have a visual layout ready with the sizes you want before leaving to shop for your new bathroom.

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This is where Western Investor believes real estate investors have the best chance to make the most money over the next two years

 

 

Real Estate is like manure 

it helps Money Grow!



By Frank O’Brien

Welcome to Western Investor’s second pick of the top towns and cities in Western Canada where, in our opinion, real estate investors in both the commercial and residential sector have the best chance to profit. We compile this list every two years and our outlook is based on a two-year horizon, though many of these top markets should also perform long-term.




No.4: Edmonton 
Alberta’s capital is in the midst of the largest development cycle in years, marked by the Edmonton Arena District that will include a new hockey arena and the second tallest office building in Western Canada. Building permits through the first half of this year were $3.5 billion, just behind Vancouver. 
Posting the highest gross national product of any Canadian city, Edmonton offers a sterling advantage for real estate investors: relatively low prices with strong upside potential.
Edmonton’s median home price, at $368,000, is far below Calgary or Vancouver, and the average price per-suite for a rental apartment building is $122,400, the lowest among Canada’s top-tier cities. The rental vacancy rate is a tight 1.4 per cent. 
The industrial market also has potential. Spec developers have had difficulty keeping pace with demand, which now equates to 400,000 square feet being leased up every quarter. Industrial land prices from $350,000 per acre are among the lowest in major Canadian cities.


OUR TOP TEN TOWNS 

1 Richmond
2 Calgary 
3 Surrey
4 Edmonton
5 Cold Lake
6 Estevan 
7 Fort St. John 
8 Okotoks 
9 Saskatoon
10 Red Deer


To Read the Full Aritcle Click here

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Copyright 2017 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.