Market Remains Stable Amidst Expected Seasonal “Dip”

Fri, 16 Sep by RE/MAX Edmonton

allgau-63427_1280Economic forecasts are rampant, particularly in industry driven regions like Alberta, yet amidst the highs and lows we have seen the Edmonton real estate market remains remarkably steadfast amidst the unrest. Upon review of recent fall statistics, the EREB is cited as noting the market to be “stable” due to only “marginal dips in prices and unit sales”. This resiliency is surely a welcome reprieve for buyers and sellers trying to determine if they can weather the storm, so to speak.

Some words of assurance come to use from REALTORS® Association of Edmonton chair Steve Sedgwick,

“Alberta’s economy has been under enormous pressure for some time, but the residential real estate market in the Edmonton Census Metropolitan Area continues to hold. Prices and unit sales for all residential homes are consistent with last year, down less than 1% and 2% respectively,”

Sale prices on average have dropped only a marginal 4% in month over month comparisons but they key comparison factor, year over year statistics, remain the same as fall of 2015, levelling out at $369, 956. Single family homes reflected an identical 4% month over month percentage drop averaging out at $434, 362 (compared to last year’s $450, 362), while EREB figures show a year over year decrease of “less than 1%”. Condo prices show the same negligible year over year consistency, and a month over month decrease of only 2% to $251, 526. Finally, in the rowhouse/duplex category, residences averaged out at $344, 377 which is a year over year decrease of just 2%, and a 1% month over month drop.

A small dip was seen across residence categories in unit sales figures, with a month end total of 1,433 sales. This total reflects a 5% and 2% decrease month over month and year over year, respectively. More specifically, this total breaks down to 861 single family homes sold, 406 condominium units, and 136 duplex/rowhouses. Two categories showed a small decline in total overall sales from the year previous; a 3% drop for single family homes, 6% for condominiums. However, duplex/rowhouses which have been a popular style particularly in the 2015/2016 financial cycle showed a year over year increase of 11%.

In terms of listings, the MLS system saw 7908 available properties by month end, a small 2% decline from the previous month’s total of 8,048. Inventory this time last year fell to 7227 MLS properties, meaning we have seen a 9.4% inventory increase.

Sedgwick once again assuages buyers and sellers alike, explain how very expected these small seasonal lulls are seen to be,

“While this is one of the most active times of the year, we are seeing both listings and sales tapering off as we move into the fall months. This is standard in our local real estate cycle,” said Sedgwick. “While unit sales for condos have been impacted the most, prices remain stable. This is thanks in part to the continuing trend of unit sales of over $750,000 that are keeping average sales price of condos elevated by almost 3%.”

Finally, the days on market factor is reported by the EREB as “consistent” in year over year review. Average days on market was about 55, the same as this time last year, and one day less in month over month comparisons. Single family homes came in at 49 days, condominiums at 62 days, and duplex/rowhouses leveled out at 56 days.

Community Profile: Garneau, Strathcona, Bonnie Doon

Fri, 19 Aug by RE/MAX Edmonton

The communities of Garneau, Strathcona, and Bonnie Doon neighbor each other from West to East, all bordering 82 Avenue to the north. Known to be exceptionally vibrant and culturally rich areas of Edmonton they are always trendy spots to visit, and make for lively neighborhoods to live in. With easy access to south-side amenities, the University of Alberta campus, and river valley and ravine trails, there’s something for everyone.

Garneau runs along 82 Avenue from 107 Street to 112 Street, spanning to it’s northern border of Saskatchewan Drive. Formerly a community in the city of Strathcona, it was adopted by Edmonton in 1912, making it one of the oldest south-side communities. Garneau takes it’s name from an original inhabitant of the time, Laurent Garneau, a consort of Louis Riel and successful trader with the Hudson’s Bay Company.

Garneau is notable for the trendy shopping district of Whyte Avenue; dotted with boutiques, cafes, and a plethora of nightlife venues. In the summer months it is a bustle of activities and festivals, when shoppers flood the sidewalks, and cafes and bars open their patios.

Whyte Avenue at Night. Image Credit Travel Alberta

Whyte Avenue at night. Image Credit Travel Alberta

Garneau properties are comprised mostly of rental units predominantly occupied by Univerisity Students living in the hi-rise apartments so popular to the area. There is also a mix of single family dwellings, and homes considered Heritage Sites by the City of Edmonton.

Click here to view properties for sale in Garneau.

With Whyte avenue shopping spilling over into Strathcona, one of Edmonton’s oldest conversions, the area maintain a freshness and vibrancy as a major cultural center for Edmonton’s arts community. The area is home to the Edmonton Arts Barns which houses the popular Old Strathcona Farmer’s Market as well as the Fringe Theatre Company, not to mention the scores of restaurants, coffee shops, and boutiques running along Whyte Avenue.

Old Strathcona Farmer's Market. Image Credit Where.Ca

Old Strathcona Farmer’s Market. Image Credit

The former city and it’s many communities were incorporated into Edmonton in 1912, and this area in heart of Strathcona maintained it’s original name. Like Laurent Garneu, Lord Strathcona was an important figure in the Hudson’s Bay Company.

Strathcona neighbors Garneau to the East, picking up where it leaves off at 107 Street and continues until it’s natural border ending at the Mill Creek Ravine. It too spans 82 Avenue to Saskatchewan drive, meaning a majority of its boundaries lead to scenic river valley walking trails. Around three-quarters of the residences in this area are apartment style buildings, mostly rentals, while the remainder are comprised of single-family dwellings, row houses, and duplexes.

Click here to view Strathcona properties for sale.

Bonnie Doon neighbors Strathcona on the eastern side of Mill Creek Ravine, carrying on until Connors Road/83 Street. Interestingly, the land was named for Premier Ruthorford, but rather than taking his name his Scottish heritage was honoured; the name Bonnie Doon recalls the “pleasant, rolling countryside” of Scotland.

Bonnie Doon is home to Edmonton’s exciting French quarter, La Cité Francophone, a cultural centre for the Francophone community of Edmonton. Including the University of Alberta’s Campus Saint-Jean, and the trendy Cafe Bicyclette, where you can comfortably order your latte in English or in French.

Cafe Bicyclette, Campus Saint-Jean. Image Credit University of Alberta

Cafe Bicyclette, Campus Saint-Jean. Image Credit University of Alberta

Bonnie Doon has a more residential feel to it, as the bustling livliness of Whyte Avenue tapers off a few blocks before the ravine. There are more owner occupied residences of the area, which is comprised of more single family dwellings. It centers around the convenience of Bonnie Doon Shopping Centre, providing all the necessary amenities for living in the area.

Click here to view properties in Bonnie Doon.


Community Spotlight: St. Albert

Fri, 05 Aug by RE/MAX Edmonton

St. Albert is located in Edmonton’s north-westernmost corner, with major throroughfares connecting the two. Though St. Albert’s borders are virtually indistinguishable from Edmonton’s, it is politically deemed a separate city. With a geographical area of just under 50 km squared and a population of over 61,000 and growing, it is a fraction of Edmonton’s size, yet encompasses all the amenities of, and proximity to, big city life.


Map showing Saint Albert's proximity to Edmonton

Map showing Saint Albert’s proximity to Edmonton. Image Credit:


The surprisingly independent community has its own rich history separate from the development of Edmonton. Founded in 1861 by Father Albert Lacombe,2 the the small Métis community became the town of St. Alberta in 1904. It thrived, due to it’s proximity to Fort Edmonton, and become known locally as a popular resting point for journeying First Nations peoples on their travels. Agriculture, and specifically the construction of two important grain elevators, contributed significantly to the burgeoning economy.

St. Alberta, 1912. Image Credit: St. Albert Historical Network

St. Alberta, 1912. Image Credit: St. Albert Historical Network


Through it’s evolution from settlement, to Town, to City, St. Albert has developed a strong foundational infrastructure. The city has it’s own transit system, the renowned Sturgeon Community Hospital, a public school system, an Athabasca University satellite campus, and a municipal governing body comprised of a mayor and six city councilors. The city also has a blend of residential communities and major commercial areas, including St. Albert Centre, a premier shopping destination.


When MoneySense Magazine, published an article on the best places to live in Canada, the top ranking city was none other than St. Albert, Alberta.  The ranking accounted for criteria such as employment rate, public transit, arts and culture, crime rates, and access to medical care. Here is the SHAW TV report on the article:

St. Albert has a noteworthy arts and cultural community, with thriving establishments like the Art Gallery of St. Albert, and St. Albert Place. For the more recreationally  inclined, the city is renowned for it’s Red Willow park trail system, the recently developed, Servus Credit Union Place.

St. Albert Place. Image Credit:

St. Albert Place. Image Credit:

CLICK HERE to view available properties in St. Albert.


EREB Reporting Residential Decline

Thu, 21 Jul by RE/MAX Edmonton


As mid-summer statistics roll in a small but noticeable decline in residential sales figures can be detected. This slowing of sales is particularly noticeable when compared to figures from the same time last year, when the market was unusually strong in the face of growing economic difficulties present in Alberta and throughout the country.

The present state of the market, as summarized by Steve Sedgwick, REALTORS® Association of Edmonton Chair, is a tension between sales figures and prices:

“Although June’s residential unit sales are up slightly over May, we did not see the numbers set in June of 2015. Also notable is that the sustained lull in sales we have seen over the past two years has not been reflected in average price. Continued sales of higher priced properties in the region have helped keep average prices strong.”

In month over month comparisons of residences sold, there was no change from May to June of this year, however there was a distinct decline of 11.1% from June of 2015. A total of 1,117 single family homes sold in June, where May saw a comparable 1,119 sales. This category of residence fell 10.1% from the same time last year.  Condominiums saw a positive incline in month over month figures, rising 11.5% to see a total of 465 units sold, yet this still shows a drop of 18.7% from 2015 sales.  Conversely, the category of duplex/rowhouse showed a noticeable improvement in sales since June of 2015, but a sharp month over month decline. While the 173 residences sold show a 9.8% increase from the same time last year, this represents a 14.8% drop from month previous.

As mentioned by Sedgwick, in terms of sale prices, there has been little change in year over year figures despite the change in quantities sold. An average increase of 0.1% can be determined when comparing 2015 sales figures, for a monthly average residential sale price of $435, 366. Single family home prices dropped 1.1% from May on average, and 1.8% from this time last year. Average condominium prices saw an slight rise of 3.5% putting the average price at $236, 326. This is a 3.5% increase from June 2015. The EREB explained away this anomaly in their reports, stating that, “the average condo price was bolstered by the sale of several luxury properties”, therefore this likely doesn’t represent a trend of incline. Duplex/rowhouse units averaged $352, 778 which is a year over year increase of 4.6%, and a month over month increase of just 0.7%.

In terms of inventory in the Edmonton CMA, Sedgwick had this to report,

“Inventory remains high and buyers continue to have good selection…This is welcome particularly to those looking in the popular $350,000 to $450,000 single family price range.”

The June market saw 3,041 new listings, a 6% decline from May, and a 4.7% decline from the year previous. There were 8179 residences on market when June came to a close, which represents a significant increase of 7177 residences in 2015.

Days on market have remained relatively steady, which a monthly average of 53 days. This is a change of only 1 day less than May, and 4 days more than June of last year. Single family homes took an average of 50 days to sell, condominiums an average of 58 days, and duplex/rowhouses an average of 53 days.

Community Spotlight: Windermere

Fri, 08 Jul by RE/MAX Edmonton

While past articles have highlighted the charm of Edmonton’s more historic communities, a new focus is turned towards the city’s newer or ongoing development projects. As Edmonton continues to expand ever outward, what do new residential communities have to offer in terms of housing, infrastructures, community facilities, and commercial amenities?

Windermere is one of Edmonton’s newer neighborhoods, which has begun to establish community roots. It is part of the larger area also known as Windermere, which also consists of the neighborhoods Ambleside, Glenridding Heights, Glenridding Ravine, and Keswick.Windermere is located in the city’s southwest, east of the river valley and south of Anthony Henday Drive.

Screen Shot 2015-02-23 at 9.54.50 AM

Windermere Boundaries

The significance of the name Windermere, borrowed from a neighborhood in Cumbria, England, is in its root words ‘winder’ and ‘mere’ which mean ‘take one’s breath away’ and ‘’boundary’ or ‘landmark’ respectively, referring to it’s scenic proximity to the river valley which the area overlooks.

Though the community is new, the land has subsisted almost exclusively as an agricultural area historically. Approximately 80 dwellings in total existed when the land was formerly part of Strathcona County before its re-appropriation to the city of Edmonton in 1982. However it wasn’t until 2006 that city council created firm plans for residential development. The late 2000’s saw exponential growth of the area that continues into present day. By 2012 results from the municipal census concluded the neighborhood consisted of 1498 dwellings. 2009 showed a population of approximately 322, while 2012 showed a 563% increase to 2136 residents.

Ongoing Developments of the Area. Image Credit: City of Edmonton

Ongoing Developments of the Area. Image Credit: City of Edmonton

According the development plans from the city of Edmonton’s neighbourhood profile:

“The plan for the Windermere neighborhood includes a range of housing types, densities and designs. Once complete, the neighborhood will include a mixed-use commercial center designed as a neighbourhood focal point, and a series of parks, pathways and institutional facilities which will be integrated with the residential development.”

Currents of Windermere is the most notable area of commerce in terms of area amenities. The open air shopping district boasts the city’s only VIP cinema, Cabelas outdoor and sporting goods store, 12 restaurants and coffee shops, as well as staple franchises like Wal Mart, Canadian Tire, Home Depot, and London Drugs. The district is also home to dental, optometric, and medical clinics to better serve the community.

Click here to view homes available in Windermere or any Edmonton area of your choosing.

Summer of the Single Family Home

Fri, 24 Jun by RE/MAX Edmonton


The EREB has declared single family detached home sales to be on the rise coming out of the Edmonton spring months. The expected seasonal upswing has particularly impacted residences of this style, with an unexpected upswing of 19.3% month over month. Even in the face of economic uncertainty year over year figures have continued to show growth, with a 3.8%  increase in the single family home category.

These staggering figures reaffirm the resilience of the YEG market we have seen time and time again over the past year, with sales statistics in all areas showing gains.

May saw 1119 single family homes sold, followed by 203 duplexes and row houses which is a sales increase of a whopping 37.2% (a 23.03% year over year increase). Condo sales, the slowest residential category, were the only area to show year over year declines (of 18.2%) however were up over 5% in month over month figures. This brought the average sales for all residences down just less than 1% from the same time last year. However a total of 1771 residences sold last month; an 18% increase coming into the summer months.

The increase in residential sales has brought with it a much needed slowing of inventory gains. Relationally these figures show a balancing out of the Edmonton CMA market, which is crucial to avoid oversaturation of properties. This creates a market environment that works for both buyer and seller needs.

New listings decreased 2.5% from the same time last year, which just less than 1% from the month previous. The sales-to-listing ratio was 61% for single family homes, 73% for duplex/rowhouses, and 40% for condominiums. The EREB reported that these numbers indicate “condo properties are entering a buyer’s market”, with aforementioned the sales-to-listing ratio showing a 13% decline from the same time last year (but a slight 2% month over month increase).  The single family home ratio remained identical to May of last year, which was a 10% bump month over month, while duplex/rowhouse figures rose a staggering 22% from last month, which is still a 13% decline from May of 2015. All in all the YEG market saw 3,233 new properties listed last month in all categories.

“While new listings coming onto the market were down this May compared to 2015, inventory continues to remain strong with more than 8,000 residential properties on the market at month’s end,” Says REALTORS® Association of Edmonton Chair Steve Sedgwick. “The fact that we haven’t seen a significant decline in prices is giving buyers more assurance. They are making purchases based on market stability and good selection.”

In terms of sale prices, fluctuations have been negligible in all categories of residences, with no changes greater than 3%. The month ended with the average single family home price sitting at $440, 573 comparable to the month previous which ended at $439,982. This is a small 3% drop from last year’s average of $453, 748. Condominiums, though showing declines elsewhere, rose 1% to an average of $254, 555, which is nearly identical to last year’s prices .Lastly, Duplex/rowhouses showed gains across the board of 3% month over month and 1.5% year over year.

“Consumer confidence amongst home buyers in Edmonton and surrounding areas remains strong and is reflected by increased unit sales in the single family detached and duplex/rowhouse categories,” Sedgwick said. “Relative to other markets in Alberta, Edmonton’s resale housing market is solid.”

Residential average days of market were 54 at month end, a two week increase from April, but just an 8 day increase from this time last year. Single family homes averaged 51 days on market, while condominiums and duplex/rowhouse averaged a longer 59 days.

Community Profile: Grovenor, North Glenora, and Glenora

Tue, 07 Jun by RE/MAX Edmonton

Diversity, ecology, proximity, family: these are the values cited by the extensive Grovenor community website . An unexpectedly old neighborhood, considering its relative distance from the city’s core, the original dwellings bordering the ravine were built around 1907. The community borders 149 Street to 142 Street on the east and west, and 107 Avenue south to the Mackinnon Ravine.

In the area’s extensive history it has changed names (formerly Westgrove) and spurred on by the railways passing through was almost completely industrial up until the 1940’s. Then a transformation began, completed in 1980, to an entirely residential community save a few bordering shops on it’s main thoroughfares.

Grovenor School

Grovenor School

A tight knit community known for it’s elaborate Halloween houses, success in the sport of shinny, and it’s focus on family values, the community emphasizes the desirability of the area for raising children, noting it’s elementary school, historic church, and community league programs.

Bordering Grovenor to the east is the historic community of Glenora, which naturally falls just south of the community of North Glenora. Glenora extends from 142 Street to Groat Road and the River Vallery, and north until 107 Avenue. North Glenora resides on 107 Avenue to 111 Avenue and 142 Street to Groat Road.

It may not be surprising to learn that the area of Glenora was part of an 1860’s river lot owned by Malcolm Groat, namesake to much of the area’s landmarks and of course Groat Road, which at the time demarcated the outer city limits.

Glenora Bed & Breakfast. Image Credit: Darren Kirby

Glenora Bed & Breakfast. Image Credit: Darren Kirby

This sprawling riverside area is notable for the Royal Alberta Musuem and it’s surrounding parkland, as well as Alberta Government House and the local hidden gem, Glenora Bed and Breakfast. Glenora is also home to 4 schools; 2 public, 1 Catholic, and 1 private. The area is considered relatively affluent, according to recent census statistics, with 4 out of every 5 homes being owner occupied.

North Glenora is geographically one of the smaller residential areas in the city, occupying less than 87 hectares, and also made up part of the original parcel of land owned by Malcolm Groat. The residential boom of North Glenora occurred in the years following World War II when just over 86% of it’s residences were constructed. Before this time, much of the area was undeveloped land, trees, and dirt trails, save for a few residences.

Noted for it’s beautifully maintained, tree-lined streets, the area is especially picturesque in the autumn months. It’s residences surround the sprawling North Glenora Park, where recreation is facilitated year-round, with amenities that include a skating rink, spray park, soccer field, basketball court, and renovated community league hall.

Search for homes in Grovenor, Glenora, and North Glenora.


Old and New, the Communities of Westmount and Meadowlark

Mon, 30 May by RE/MAX Edmonton

Just outlaying Edmonton’s original core, is the area of Westmount. It’s 1910 boundary establishment makes this neighborhood one of the city’s oldest and most established. A strong history of growth and development contributes to the cultural richness of the area and it’s vibrant community spirit.

Westmount Homes. Photo Credit: Avenue Magazine

Westmount Homes. Photo Credit: Avenue Magazine

Westmount has some of the most desirable real estate in the city, with an abundance of appealing  character homes. Over 25% of it’s residences were constructed prior to the end of World War II. The strong sense of historical pride in this area can be seen in these immaculately maintained, period houses.

Bordered by thoroughfares of 111 avenue, Stony Plain Road, Groat Road and 121 Street, this neighborhood has all the charm of downtown living without, well, actually living downtown. It’s cornerstone is the bustling 124 Street, dotted with cafes, boutiques, art galleries, and the newly popular 124 Street farmer’s market (open Thursdays in the spring and summer).

Reflecting the liveliness of Westmount is the younger community of Meadowlark Park.  Though it wasn’t established as a community until much later, it has certainly made up for lost time in it’s short but interesting history. Now this neighborhood, with an increasingly youthful demographic, is notable for it’s young families and abundance of children being raised in the area.

The Edmonton neighborhood originally belonged of the town of Jasper Place, and at the time lay far outside the city limits. However, as Edmonton continued it’s rapid expansion, many smaller towns became absorbed into the metropolis. In 1964 Jasper Place became one o f these annexed locations, including of course, it’s small area of Meadowlark.

Located in the west end of the city, the community spans from 156 Street and 87 Avenue to 163 Street and 95 Avenue, just a stones throw from West Edmonton Mall, the Valley Zoo, and the vast network of the river valley trail system, ideal for it’s young families and those with on-the-go lifestyles.

Meadowlark is known for strong involvement in it’s community league, including year round fundraising, fitness programs, and children’s recreation programs. The flagships of Meadowlark Shopping Centre and the beautifully renovated Jasper Place Library branch showcase the recent economic growth of the area.

Mother’s Day in YEG

Sat, 30 Apr by RE/MAX Edmonton

Consider yourself officially warned, Mother’s Day is Sunday May 8, less than 2 weeks away. Arguably the most important holiday of the year (or at least the one you’ll get in the most trouble for missing!).

Restaurants book up faster than Valentine’s day, Flower shop shelves are bare leading up to the day, and last minute 7-11 gifts don’t really have the pizzazz you’re going for.

Fortunately Edmonton has you covered. With an near endless list of activities ranging from casual to upscale, we’ve compiled the best of the best to honour your Mother.


Mother’s Day Garden Party at the Prairie Gardens Adventure Farm

Garden Party

Bon Accord hosts this kid-friendly outing locale where young’uns can laugh it up with their mamas while chasing bunnies, getting faces painted, enjoying a petting zoo, and gardening, all backed by the jazz stylings of Keith Rempel and his band.  This event is hosted both Saturday and Sunday, an ingenious way to diffuse some of the Sunday-only crowds. The brunch seatings are selling out fast for Sunday but Saturday still has multiple seating time availability.

Admission is FREE. The Blossom Brunch (multiple seatings, both days) tickets are $25 for adults, and half price for children 3-12.


Sport Check Mother’s Day Run, Walk & Ride


Just because you’re doing nice things for your Mother, doesn’t mean that thoughtfulness can’t spillover to others. This year, proceeds from the event will go towards support the Stollery Children’s Hospital Foundation – a cause very close to the realtors of Re/Max Real Estate and their families. The activites will be hosted at Hawreylak park and warmup begins at 8:45. CLICK HERE for information on how to register and collect pledges. This is a great activity for the enjoyment of all family members of any activity level.


Rejuvenate: Mother’s Day at the Muttart


“Treat Mom to an afternoon all about her at the Muttart Conservatory! Make Mom a special keepsake to tell her how much you love her, give her a Mother’s Day plant, and let her enjoy 15 minutes to herself getting a mini-massage from the students at MaKami College! Your mom will love her day at the Muttart Conservatory!” (From the City of Edmonton)

The event runs from noon until 4pm and regular admission prices apply.


Mother’s Day at the Edmonton Valley Zoo


A spotlight on animal AND human moms puts a unique twist on this Mother’s Day celebration. From 12-4 pm enjoy the sights and sounds of the valley zoo, with children and adults alike. While the zoo celebrates animal mom’s with special afternoon treats, you can celebrate yours with mini-massages, magic shows, face painting, live music, and more.

Afternoon at the Citadel


Treat your Mom to an upscale afternoon taking in the Citadel Theatre’s performance of the classic musical West Side Story. The show, according to the Citadel, is “inspired by Shakespeare’s Romeo and Juliet, West Side Story is one of the greatest musicals of the 20th century – a love story set on opposite sides of a turf war between rival street gangs. Includes such popular songs as Maria, I Feel Pretty, Tonight, America and Somewhere.”

CLICK HERE to view matinee seating options. Performance begins at 1:30 p.m.

Royal Bison Art & Craft Fair


Of course craft shopping is going to appear on a list of top Mother’s Day activities. HOWEVER, Royal Bison is the crème de la crème of craft shopping experiences. The rows of hipsters showcasing handmade jewelry, apparel, and artwork is inspiring. The community vibes, local cuisine, and unique products are “delightfully weird” according to promoters.

The craft fair runs May 6, 7, and 8th at 8426 Gateway Boulevard.


Rose Sale


St. Albert botanic park is hosting this lovely event from Friday through Sunday showcasing a selection of over 600 roses! The sale provides quality plants, both new varieties and old favourites, while providing rose growing information specific to Alberta. The event is celebrating it’s 20th anniversary this year!


Sunday Brunch at the Fairmont


Hotel MacDonald will be hosting an extra special Mother’s Day Sunday brunch, with seatings from 10 a.m. to 2 p.m. Additionally, family photos will be available. Sunday Brunch at the Fairmont is an historic event, described as follows:

“The Empire Ballroom, a designated municipal heritage site, surrounds you with 100 years of history. The spectacular Edmonton Sunday Brunch buffet, with over 50 items to choose from, begins with sparkling wine and orange juice followed by deluxe breakfast entrées and pastries, as well as a wonderful selection of classic and Canadian luncheon cuisine. To further your experience, we have specialty crepe, omelette, and carving stations.  A seasonal patio with a magnificent view of the North Saskatchewan River Valley completes your Sunday Brunch dining experience.”

Spring Prices Hold Steady Amidst Market Influx

Fri, 22 Apr by RE/MAX Edmonton



Spring in YEG means a busy real estate market.

Spring season is a bustling time in the city, and the real estate market is no exception. As the sun comes out and melts the snow that makes the thought of hauling boxes in a blizzard so terribly unappealing, sellers and buyers alike have a renewed sense of enthusiasm.

March 2016 saw an unprecedented 63% increase in residences sold. The promise of better weather saw 1364 properties sold in contrast to the 837 bought in February. In year over year comparisons this shows a negligible 1.5% decrease from the same time last year, as the Edmonton market proves a continual resiliency in the face of a so called nation-wide economic crisis, with a particular strain on Alberta. Of the 1364 property transactions last month, condominiums represented 335 of those and the duplex/rowhouse market represented 144 properties. This shows a respective rise of 44% and 82% in these markets.

Just as the winter lull was predicted this March influx was expected seasonally.  “Sales, relative to last month, were consistent with the seasonal trends that we expect” comments REALTORS® Association of Edmonton Chair Steve Sedgwick.

However, this positive upward market trend should provide no source of concern to buyers as sale prices remain relatively steady in month over month comparisons. Residential sale prices for March averaged out to $379, 524, a small 3% increase from the month previous, and and even slighter 2% increase from March of 2015 where prices held at $372, 289. A market breakdown of this average shows single family home sales up 0.56% from last year at $439,815, and 4.73% from this February. Condominiums ended the month at $251, 093, up 1.62% from the month previous and 0.55% year over year.

“When looking at housing prices, we have to take into account a number of factors,” Sedgwick said. “Last month, we saw sales of two homes in Edmonton that were priced at more than $3 million dollars. This is the first time that properties at that price point have sold in 2016, and those two sales affected the average price by several thousands of dollars. So it is important that we also look at the median prices as well, to gain a clear picture of the market.”

List prices are also reported as steady month over month and year over year, with a March average of $357,750, a drop of about 1%; the same last year showed an average of $360,000. This also shows a 3% rise from list prices the month previous. Single family home prices increased about 1% to $405, 000, down from $410,000 year over year.

Continues Sedgwick, “Inventory is growing, with more than 3,000 properties coming onto the market last month. Despite the inventory growth, prices are holding steady, with median prices on par with last year, and average prices up slightly due to the sale of high-end luxury homes in March.”

Finally, days on market statistics showed a drop in most all categories of residences, with an average of 53 days on market; 4 days less than the month previous. Single family homes also showed a 4 day drop, down to 49 days on average, and duplex/rowhouses dropping 9 days to an average of 62 days on market. Lastly condominiums were up one day from February of this year, to 58 days.