Archive for the ‘Real Estate’ Category

October Real Estate Market

Sunday, November 6th, 2011
Average prices for all types of residential property softened in October as part of the seasonal trend. In October the average* price of a single family detached home dipped lower than the two previous years and the previous month. The average price of a condo also dropped below the two previous same-month levels and was $15,500 below the price at the start of 20…11. Over-all, the average residential price dropped to the lowest point since March but was $2,500 above the same figure in 2010.

SFD average price $362,897 (down 3.4% m/m), median price $346,500

Condo average price $223,892 (down 4.4% m/m), median price $210,500

Duplex/row house average price $309,474 (up 4.7% m/m) , median price $308,000

All-residential average price $319,985 (down 3.9% m/m), median price $312,500

The balanced market continues as evidenced by the same number of residential sales in October 2011 and October 2010,” said REALTORS® Association of Edmonton President Chris Mooney. “Although there are initial signs of labour shortages in the service sector, we are optimistic about real estate performance. As job openings increase in Alberta, people will again start to move here and drive real estate sales up.”

Thank you to all my clients for their continued support. Please call my team and I if you have any questions. 780-406-4000. Happy Sunday!

Kind Regards, Michael Pino Real Estate Group

Home Prices expected to keep rising next year: Remax

Thursday, December 9th, 2010

OTTAWA — Canadian home prices should continue to rise next year, despite sales levels flattening in most major markets, said Re/Max in a report released Tuesday.

The real estate firm said home prices should, on average, rise three per cent to $350,000 by the end of 2011, while existing-home sales will remain flat.

It forecast that home sales this year would be down five per cent to 441,000, with prices growing seven per cent to $340,000.

The Re/Max report said fewer homes on the market have offset the diminished demand this year, helping to keep prices rising.

Some of the factors Re/Max said will continue to push prices up and keep sales steady in the years ahead include land scarcity as housing is intensified in urban areas, immigration, the strength of the market for higher-end homes and the prospect housing presents as a stable investment.

While the lack of growth in sales, along with price gains that are merely in the single digits, mark a change in pace from recent years, Michael Polzler, an executive vice-president for Re-Max, said it’s more a “return to the traditional real estate cycle” than a “new normal.”

“The past decade was truly unprecedented; never before have we experienced a run-up that was as strong or lasted as long,” he said in a statement. “As we have digressed from the typical pattern, people have forgotten what the usual healthy cycle looks like, but all the hallmarks are there.”

© The Financial Post

Michael Pino (Edmonton Luxury Properties), Re/Max Elite
#17, 8103-127 Avenue, Edmonton, Alberta, T5Y 3K6
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