The Edmonton Real Estate Blog

Housing Forecast Seminar: Live Blog

Today we’re attended the always informative Housing Forecast Seminar put on by the REALTORS® Association of Edmonton. We always get tons of insight on the market and what to expect at the seminar that I’ll be sharing here. James Mabey; Chair, REALTORS® Association of Edmonton Single-family home sales were down 5.4% in 2016 compared to […]

Your Home Didn’t Sell, Now What?

The real estate market in Edmonton can be a tough one for sellers right now. Consider this, in 2015, only 54% of MLS® listings in the Greater Edmonton Area actually sold! Think about that, almost half of the listings, didn’t sell last year. If you’re among the 46%, what do you do now? If you’re […]

2016 Edmonton Real Estate Forecast: Live Blog

Every year, the REALTORS® Association of Edmonton hosts a very informative housing forecast seminar. Today I’m live blogging at the seminar, summarizing the thoughts from each presenter. Steve Sedgwick, Chair, REALTORS® Association of Edmonton We expect to see a continued decline in sales in 2016, but not a dramatic one (single family homes -2.5% year over year and […]

Greater Edmonton Real Estate Prices Still on the Rise

For the first time this year we saw fewer new listings than we saw in the same month last year; according to numbers released by the REALTORS® Association of Edmonton today new listings were slightly down (2%) in the Greater Edmonton Area in May. While a 2% drop may not seem significant, when you consider […]

Canadian Dollar Evaporates Florida Real Estate Deals

While the weather is starting to get better and real estate season is upon us, Canadians that have been buying up real estate deals in the US, largely in Florida and Arizona, have started to think twice due to the Canadian dollar. It is estimated that over 500,000 Canadians own homes in Florida and about 1 in […]

Land Titles Office Fees Increasing Sooner Than You Think – Updated May 12

Alberta has long been the cheapest place in Canada to buy a home, when it comes to closing costs. However, the new provincial budget that was announced last month included a massive increase in fees from the Land Titles Office. Although we have no land transfer tax here, as most other places in Canada do […]

Edmonton Real Estate Market Poised for Correction

Well, there’s certainly been lots of media interest in the real estate market lately, that means I have lots of quotes and opinions on the market to share in this month’s report. As we’ve been expecting, inventory is up and sales are down, in a pretty big way in the Greater Edmonton Area (GEA), but how […]

What does oil have to do with real estate prices in Edmonton?

You’ve heard it said many times, many ways (must be listening to too much Christmas music) that Oil has a lot to do with our economy, and now you hear many people saying Oil, Schmoil, we’re a construction town. We tend to be a bit more pragmatic in our view. Since I’m no expert on oil, […]

Experts Agree: Edmonton’s the Place to Be

The REALTORS® Association of Edmonton released their monthly report on the Greater Edmonton Real Estate market yesterday showing an active real estate market. The Real Estate Investment Network (REIN) also released a report yesterday, showing Edmonton and Calgary as the best markets to invest in real estate in Canada, agreeing with other, recent, similar reports. […]

Emerging Trends in Real Estate, 2015: Edmonton’s on Top

PwC released their Emerging Trends in Real Estate this week, with a thorough analysis of Canada’s major cities. Edmonton and Calgary came out on top, scoring very well for investment, development and housing. The report discusses urbanization as the “new norm” with people flooding into city cores to live close to both work and the […]

BMO Predicts Real Estate Boom in Alberta

 There has been a ton of talk about a recent report from BMO about the housing market in Alberta. “Alberta Bound… For Another Housing Boom” lays out all the reasons we should see a very strong real estate market in Alberta this year. Some of the facts in the report are staggering: Every province in […]

Alberta New Home Buyer Protection Act Goes Into Effect Feb. 1

The day is finally here, on February 1 it becomes mandatory for new homes to have a warranty in Alberta. We discussed mandatory new home warranties on the blog last June and provided all the details we had at the time. The basic warranty details are as follows: 1 year labour and materials (fit and finish […]

Edmonton Vacancy Rate Drops Again

CMHC released their semi-annual rental market report today showing increasing rents and a dropping vacancy rate. Highlights from the report include: In the primary rental market, the apartment vacancy rate in the Edmonton Area declined to 1.4% in October 2013 from 1.7% a year previous „„The average rent for a two-bedroom apartment in new and existing […]

Real Estate Market Ploughs Ahead in Edmonton in November

Residential sales in the Greater Edmonton Area real estate market were the highest we’ve seen in the month of November since 2009.  “The Edmonton market continues to perform well with sales up and prices rising,” said RAE President Darrell Cook, in a news release yesterday. With some of the most affordable housing in the country, […]

Astronomical Population Growth Fuels Edmonton Real Estate Market

With the sales results for September in, we can now see that Edmonton real estate had a very strong third quarter. We saw near record level sales of single family homes in Edmonton in July, August and September this year.  I think Gary Lamphier of the Edmonton Journal best explains what is currently happening with real […]

Ernst & Young: Canada among top 5 real estate destinations globally

I know there are some people who are tired of real estate companies promoting their market. So I’ll save you the grief of reading any further, but we really do love where we live and if we don’t shout from the roof tops then who will. This latest report is not from the usual suspects […]

Edmonton: A Very Affordable Canadian City

Edmonton ©Liv Real Estate Despite rising real estate prices, Edmonton remains one of the most affordable major cities in Canada, according to an RBC report released yesterday. Calgary was ranked just ahead of Edmonton for housing affordability – now that’s not something you hear everyday!  The RBC affordability measures show the proportion of median pre-tax household […]

CMHC Tries to Cool Hot Canadian Housing Market

CMHC made an announcement this week, restricting the amount of guarantees they will give each month. Essentially, this means the number of mortgages that will be approved with less than 20% down will be capped on a monthly basis – a move that could take some wind out of the Canadian real estate market.  At […]

Alberta Flooding: How You Can Help

Hell or High Water Fundraising T-Shirts Donations are pouring in from all over the world to help victims of the flooding in Souther Alberta. Even orphans in Cambodia have sent donations! If you’d like to help, here are a few of the ways you can help: Donate to the Red Cross Alberta Floods Fund Purchase […]

Are Mortgage Rates About to Rise?

The Bank of Canada maintained its interest rate at 1% yesterday while warning the rate will go up at some point. However, as our readers now, fixed mortgage rates are tied to bond yields, not the Bank of Canada interest rate (variable rates are tied to that).  Gord McCallum, Mortgage Broker/President at First Foundation pointed […]