The Edmonton Real Estate Blog

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 […]

Listing Inventory Lowest We’ve Seen in 5 Years in Edmonton in January

The REALTORS® Association of Edmonton released their monthly report on the housing market in the Greater Edmonton Area today with the headline “Local housing sales and inventory up in stable market.” I very rarely do this, but I have to disagree with our Association’s take on the housing market today. In their release (and their […]

New Real Estate Forms Mandatory in Alberta Today

Alberta has new real estate forms. As of today all of Alberta’s licensed industry members are required to use new plain language forms with mandatory content, as mandated by the Real Estate Council of Alberta.  This is certainly no picnic for the industry and the consumer but for the most part the pain is logistical […]

Single Family Home Prices up 7.2% Over Last January in Edmonton

Sales of single family homes were slightly lower in January than a year previous. There were 441 sales in January in Edmonton compared to 470 last January. This is the first time single family home sales were lower than the previous year in 6 months.  The inventory of single family homes on the market is […]

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 […]

Luxury Market Taking Off

Luxury Home Luxury homes are in high demand in Edmonton, and the rest of the country according to a survey released by Remax today. Sales of luxury homes increased in 2013 (compared to 2012) as follows: Vancouver 36%, Calgary 34%, Edmonton 32%, Hamilton-Burlington 31%, Kitchener-Waterloo 27%, Toronto 18%.Here is what it looks like on a chart: Edmonton […]

Real Estate Sales up 8% in Edmonton in 2013

All things considered, 2013 was a very good year for the Edmonton real estate market. Total residential sales were up nearly 8% over last year, and prices increased moderately showing strength in our market without putting extra pressure on buyers. People moved to the Edmonton area in droves, and the vacancy rate on rental properties […]

Condo assessments

Almost all of my blog posts are inspired by recent transactions or activities related to my involvement in real estate, and this one is no exception. I bought my first condo in 1992 – back then condo sales made up about 5% of the residential market in Edmonton. Today about 1/3 of the market is made up […]

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, […]

Edmonton Housing Sales Significantly Higher Than Past Five Years in October

In October, and for the third month in a row, sales of single family homes and condos in Edmonton were higher than the past 5 years. 759 single family homes sold through the MLS system in Edmonton in October, compared to 720 last year and 762 last month. Edmonton single family home sales Condos sales […]

Buy or Sell First?

“What should I do first: buy my next home or sell my current one?” Unfortunately, there is no easy answer to this question, because the right answer entirely depends on your situation and the current real estate market. So, whenever we get this question from clients, we end up answering it with them, not for them. […]

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 […]

Rewiring is Likely Ideal for Owners of Older Edmonton Homes

The following is a guest post by Western Direct Insurance, from High River, AB. If your home was built in the middle of the 20th century or earlier, you could be at risk from your electrical wiring. The majority of older homes in Canada have either knob and tube or 60-amp wiring installed – both […]

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 […]

Buying or Selling a Home During a Flood

Calgary Flood, Source: Sun News Network   As everyone knows, it’s rained a lot in Edmonton this year, which leads to flooded basements. We are not experiencing anything close to what our neighbours in Southern Alberta are facing, but there are plenty of basements under water in Edmonton and the surrounding area as we speak. […]

Edmonton Real Estate Market Weekly Update, June 21/13

Edmonton Real Estate Market Update Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 531 (547, 606, 505) # Sales: 340 (373, 337, 316) Ratio: 64% (68%, 56%, 63%) # Price Changes: 327 (304, 353, 309) # Expired/Off Market Listings: 131 […]

EdmontonRealEstate.pro Just Keeps Getting Better

We are very excited to announce the launch of our upgraded Edmonton MLS® search site this week. EdmontonRealEstate.pro is one of the most popular real estate web sites in the Edmonton area with 72,000 unique visitors viewing 2.8 million pages per month. It’s clear the site is very popular, so, we keep trying to make […]

Edmonton Real Estate Prices Up 2% From Last Year

We’ve created a new “snapshot” version of the real estate stats for Edmonton, our in depth analysis is below. We hope you’ll share the snapshot with friends and on social media. Here is our market snapshot for April, 2013   Edmonton Real Estate Market Snapshot, April 2013 There were 1645 residential sales in the Greater […]

Record Single Family Home Sales in Edmonton in April

Single family home sales are going strong – the highest we’ve seen for April since at least 2005 (when I started if keeping track). 904 single family homes sold in Edmonton through the MLS® system in April, 2013 which is up from 854 last year and 750 last month. The peak for single family home […]