A Mixed Bag Market

Edmonton’s housing market is giving off mixed signals this summer. On the one hand, there are more homes for sale than last year. Buyers have more time and more options. REALTORS® say motivated sellers might be willing to lower prices to make a deal. This is great news if you are looking for a home. But experts warn the market overall is still in favour of sellers. Right now, Edmonton has about 2.7 months of housing inventory. To be a true buyer’s market, there would need to be more than six months of inventory.

Moreover, not all properties are moving at the same speed. Detached homes are selling faster, taking around 31 days to sell in July. Condos are taking longer, with an average of 46 days on the market. In July, 1,690 detached homes sold compared to 471 condos. With so many condos available, supply is higher than demand in that part of the market.

Some buyers are finding that it’s only taking a few days from starting their search to getting the keys to a new home. This is a big change from a few years ago, when homes could sell within hours. Experts say this slower pace may shift again in the fall, as Edmonton’s market tends to be seasonal.

Contact me About Houses in Edmonton Canada

If you’re shopping for houses in Edmonton Canada, right now, you may find more choice and less pressure than in the past. But don’t expect deep discounts everywhere. Some areas and property types still favour sellers. The market depends heavily on location, pricing, and the type of home. For sellers, proper pricing is key to moving your home faster. For buyers, now is a good time to explore different neighbourhoods and property styles before making a move.

FAQ

Is Edmonton a buyer’s market right now?

No. While inventory is up, Edmonton still has only about 2.7 months of supply, which favours sellers.

Are condos or houses selling faster?

Detached houses are selling faster, averaging 31 days on the market compared to 46 for condos.

Are prices going down in Edmonton?

Not overall. Detached homes saw a small 0.7 per cent price increase in July, while some other property types dipped.

The post July Market Recap for Houses in Edmonton Canada appeared first on St. Albert Real Estate For Sale.

What’s New With Edmonton Real Estate for Sale?

As predicted in January, the Edmonton real estate market is now shifting from balanced conditions to those that favour sellers. Moreover, with prices steadily rising and market activity slowing down, sellers can expect to hold the majority of the power for the months to come. Throughout the remainder of the year, it is projected that the average sale price for a home will be driven up by 4% to $416,860. Additionally, it’s worth noting that the most popular housing type will be single-family detached homes. 

For those who are planning on selling their property this spring, now is a great time to make your move. With conditions increasingly partial to sellers, there is potential to make an excellent ROI. Talk with your agent today about getting your home sold this spring!

As for buyers, it will be critical to act quickly when you find a home that you love. Seller’s markets are often characterized by their low inventory and high demand. As such, it is important to know key factors like your budget and wants vs. needs before you go house hunting. This will help you make quicker decisions, and ultimately, get a better deal. 

Contact me Today!

Contact me if you have any questions about buying or selling Edmonton real estate for sale this spring. I’d be happy to help you attain your real estate goals. Be sure to check out my social media for the latest updates and more. I look forward to working with you shortly!

The post Edmonton Real Estate for Sale is Shifting in Favour of Sellers appeared first on St. Albert Real Estate For Sale.

Follow along below, as we go through the top reasons why you should consider making St. Albert your next home. 

1. Houses For Sale in St. Albert Have a Low Crime Rate.

Several cities that were once minimally affected by crime, are now seeing crime rates raise. This is largely due to the increased population. However, St. Albert remains one of the safest cities in Alberta. The overall crime rate is 11% below the national average in Canada. St. Albert is lucky to be well-policed and populated with upstanding citizens to maintain such a low crime rate. We also have a great community that looks out for one another.

2. Great Education and Schooling Opportunities.

Another reason why St. Albert is a great place to live is the amazing education system. Houses for sale in St. Albert have access to three different school districts. Which, means there will always be a school close to home. Additionally, this ensures strong community connections and promotes less driving. Learning programs are provided for kids in Kindergarten through to Grade 12. Many of the schools offer IB/AP courses, French immersion, sports academies, and arts programs. Students are consistently ranked highly in the provincial average.

3. Greenspaces are Abundant in St.Albert!

St. Albert has a vast number of green spaces, parks, and trails. For those who love to get outside and enjoy nature, these parks are definitely something to check out. Whether you want to exercise or relax, St. Albert’s park system is sure to satisfy your needs. Check out The Red Willow Trail for 85Km of trails. Moreover, you can visit one of the other 112 parks and 77 playgrounds throughout the city!

For more information on houses for sale in St.Albert, contact me today! I’d be happy to help you find the perfect home for sale in this lovely area. If you have any questions or concerns about a property in the area, be sure to reach out. You can also visit me on social media here for the latest updates and more. I look forward to working with you in the near future!

The post Why Buy Houses For Sale in St.Albert? appeared first on St. Albert Real Estate For Sale.

The post How to list houses for sale in St.Albert Alberta during a seller’s market! appeared first on St. Albert Real Estate For Sale.

Are you looking for a house for sale in St.Albert? You’ve come to the right place! As a REALTOR® with decades of experience in the local Edmonton area, I can help you to answer any questions about the neighbourhoods that make up St. Albert. 

Finding a home anywhere in Canada in 2022 will be trickier than ever. Inventory is at its lowest across the country. Edmonton has been one of the least affected when it comes to major city housing supply. However, agents operating in suburb communities such as Erin Ridge, and St.Albert are feeling the squeeze. That’s why it’s more important than ever to be prepared for your purchase. 

Below are a few tips to help you get your offer accepted on that house for sale here in St.Albert!

Make your offer on a house for sale in St.Albert clean!

Making a clean offer often involves a level of good preparation. That means having your mortgage amount squared away and your lender firmly in place. You should also plan to move quickly when it comes to putting down your deposit. Once the financial stuff is out of the way, next you’ll want to look at avoiding other common subjects. For example, it is very, very difficult in the midst of a seller’s market to get an accepted offer that is subject to the sale of another property. If you need to sell your home first, then you should sell your home first! This will give you an advantage over other home buyers.  Having your home sold will also allow you to move much faster and more confidently!

Take some time to examine the property from afar, because another thing that goes out the window in a seller’s market is a home inspection. We recommend getting one in all cases. However, sometimes in a seller’s market, we are seeing property owners who will provide their own independent reports. Many times they have nothing to hide because they know that their home will sell for full price if not over asking, regardless of what repairs might be required. If you really want a home inspection then be prepared to get edged out by someone who doesn’t.

Don’t overcomplicate your offer by asking for other things

In a buyer’s market, we are accustomed to writing in extras to the offer. These extras can range from bar stools to custom furniture. However, these can make offers more complicated than necessary. That’s because they usually involve some back and forth between all parties. Do yourself a favour and if you love what the seller has inside their home take a few pictures so you can source the items on your own once the deal is complete. 

If your offer is more difficult than any of the others, then you can expect the sellers to skip it and move to the next. For example, if there are two offers that are the same price, but one wants the seller to throw in this, that, and the other thing, it’s very obvious which offer they will select. 

You’re better off sourcing the items inside after you’ve sealed the deal!

Offer more than they’re asking but NEVER more than you can afford

This one is pretty obvious. Make the seller an offer they can’t refuse on that house for sale in St.Albert. If there are multiple offers on a property then you want to do your best to stand out – in a good way! Low ball offers do not work in a seller’s market. They get tossed out no matter how clean they appear, in favour of the higher bid. Sellers will take what they can get and often there are lots of offers to entertain these days! 

In order to make your offer stand out in a multiple bid situation lean on your real estate agent. We will help guide you into an offer you can afford, one that is attractive to sellers and one that isn’t going to leave you upside down on your mortgage. Don’t get caught paying so much more that if there is a slight correction you owe more than it’s worth. However, if you know this is your home, then let’s come up with a strategy that everyone is comfortable with!

Despite it being a seller’s market, for now, the real estate market is always in a state of change. That’s why it’s advisable to always look for advice from a local REALTOR® before you buy or sell houses for sale in St.Albert. 

Contact me today if you would like to learn more about the current real estate market in St.Albert or Erin Ridge.

The post How to find a house for sale in St.Albert in 2022 appeared first on St. Albert Real Estate For Sale.