January 5, 2015: Sales of residential property through the Edmonton Multiple Listing Service® (MLS®) System in 2014 in the Edmonton CMA were over 11 percent higher than in 2013, exceeding growth expectations by a large margin. This increase was reflected across all property types including a 9.8% increase in sales of single family detached properties, an over 11% increase in condo sales and a 25.4% increase in duplex and rowhouse sales. There were 18,991 residential sales reported in 2014 as compared to 17,077 in 2013.

Prices were also up compared to 2013, with single family homes finishing the year 5.6% higher over last year at an average of $432,713. For 2014, the average price of a condo was $252,175 (up 4.5% from 2013) and the average price of all residential properties was $367,228 (up 5.2% from 2013).

2014 was a very busy year for your local REALTOR®. Edmonton and the surrounding areas experienced a great increase in volume of sales, but also a healthy increase in price. We did not see the sudden spikes in prices that we saw in 2007, but we did surpass the single family record price in March of 2014. An increase in newly built affordable condos and multifamily units coupled with historically low mortgage rates encouraged new buyers into the market. We also saw great migration into the province and a very tight rental market. These factors all play into a very active market in 2014.

The all-year sales-to-listing ratio was 70% (up 2% from 2013) with average days-on-market at 47 days (down from 53 last year). The active market was highlighted by a year-end inventory of just 3,059 properties, a similar number to the end of last year (3,049).

As is seasonally normal, prices and sales dropped in December from November, but are up year over year from December 2013 in all categories. The price of a single family detached property dropped 3.3% from $444,312 in November to $429,470 in December. Condo prices dropped 3.4% in December to $247,099 while duplex/row house prices increased slightly from November to $355,978.  December all-residential unadjusted sales were exactly the same as 2013 at 770 and down almost 38% from last month.

If you have questions please  talk to your local REALTOR®  Irina Mierzewski about your options in this market and what is right for you!

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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.

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. 125 million dollar plus homes have sold in 2014 compared to 94 at this same time last year and 75 in 2012.

the Canadian real estate association CREA  is offering you updated information about average pricing of houses in any corner of canada.

please see this link

please ask irina Mierzewski – your russian realtor in edmonton if you have more questions.

http://crea.ca/content/national-average-price-map

Single Family

Sales of single family homes were down from year-ago levels in all but the highest price range in the first quarter of 2014.

Sales rose 11 per cent for single family properties priced above $475,000 compared to the previous first quarter.

In contrast, sales dropped 54 per cent for homes priced below $250,000 and declined more than 10 per cent in price ranges between $250,000 and $400,000.

Inventories were generally much lower compared to a year earlier, leading to a tighter market across all price ranges. Homes in the range from $250,000 to $325,000 represented the tightest segment of the market for single family homes in the first quarter.

 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 Edmonton  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). 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. 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 Russian Ukrainian speaking  local REALTOR – Irina Mierzewski  –  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)

 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.

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. 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.

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. Homebuyers and sellers are encouraged to work closely with your REALTOR® for LIFE! Irina Mierzewski 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.

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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

3 Average 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 Irina Mierzewski – your Russian/Ukranian Speaking Realtor in Edmonton.

Edmonton, August 5, 2014:

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 . Condo prices were stable month-over-month at $254,654 and duplex/rowhouse average prices rallied with a 5% lift to $360,309.

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.

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.

If you are looking to buy or sell your property – call Irina Mierzewski – your english ukrainian russian speaking realtor in edmonton and she will be happy to answer all your questions and assist you in all your real estate needs! please read testimonials on her page and see what other clients are saying about her and her professional  real estate  expertise .

Highlights of MLS® System activity (for all-residential sales in Edmonton CMA1)

The housing market in the Edmonton is poised for a very active spring sales period. Sales of all types of residential properties in the first quarter in the Edmonton 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. 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. which means that 5.8 houses out of 10 are selling.

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, 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.  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.

OTTAWA, February 28, 2014 — Following the annual review of its insurance products and capital requirements, CMHC will increase its mortgage loan insurance premiums for homeowner and 1 – 4 unit rental properties effective May 1, 2014.

The increase applies to mortgage loan insurance premiums for owner occupied, self-employed and 1-to-4 unit rental properties, including low-ratio refinance premiums. This does not apply to mortgages currently insured by CMHC.

For the average Canadian homebuyer requiring CMHC insured financing, the higher premium will result in an increase of approximately $5 to their monthly mortgage payment. This is not expected to have a material impact on the housing market.

Effective May 1^st, CMHC Purchase (owner occupied 1 – 4 unit) mortgage insurance premiums will increase by approximately 15%, on average, for all loan-to-value ranges.

CMHC reviews its premiums on an annual basis and, going forward, plans to announce decisions on premiums in the first quarter of each year.

Based on a 5 year term @ 3.49% and a 25 year amortization

Based on a 5 year term @ 3.49% and a 25 year amortization

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 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.

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. Call Irina Mierzewski – your russian speaking REALTOR for life in Edmonton!

The residential home inventory on the Edmonton Multiple Listing Service® (MLS® System) rose 16% in January. Typically just over 1,800 homes in the Edmonton  come onto the market in January. Last month’s listings of 1,842 were higher than the 783 listed in December. Sales figures were higher than a typical January and higher than sales in December and January 2013. The increased inventory  kept prices stable in all housing categories.

Compared to December, the all-residential average3 price of $347,847 was down just $1,226 or
-0.16%. Single family detached (SFD) home prices were down 1.5% at $416,344. Condominiums were priced on average3 at $230,463 (down 1.5%) and duplex/rowhouses showed the biggest movement and were down 5.3% at $336,220.

Price stability and more property available for sale results in a balanced market.Right now both buyers and sellers have time to consider all their options and housing needs. More homes are listed every day and Irina Mierzewski your russian speaking REALTOR® can advise you of a suitable property as soon as it comes available.

The residential sales-to-listing ratio was 45% and the average days-on-market was 61 days in January compared to 73 days in January 2013. There have been four property sales over a $1 million already this year but half of the SFDs sold in January were sold at or below $385,000.

Strong economic indicators such as low unemployment, higher hourly wages and positive in-migration all support an optimistic view of the Edmonton and area housing market. Consumers are confident in their economic future and prepared to risk a first-time or move-up purchase. Low rental vacancies and the potential for higher rental rates are also attracting investors into the market.

Irina Mierzewski – your  russian/ukranian speaking REALTOR in Edmonton will be happy to answer all your questions and give her professional advise whether you sell or buy property in the near future.