Edmonton Real Estate 2012 Forecast
Edmonton Real Estate Trends for 2012:
What’s in store for Edmonton and the Canadian real estate market in 2012? Let's take a look:
Pricewaterhouse Coopers and the Urban Land Institute released a survey, early January 2012, detailing a report with over 950 industry experts from Canada, the United States and Latin America analyzing important trends developing this year.
Here's what they had to say regarding the top five trends for Canada:
1. Steady but “not stellar” investment prospects:
“Typically restrained Canadian consumers had been on uncharacteristic spending and home-buying binge encouraged by low interest rates, but their self-assurance has ebbed, and job growth has decelerated in response to all the noise about European and U.S. debt woes.”
“Interviewees signal a better-to-be-cautious investment approach.”
2. Continued strength in commercial markets:
“Canada’s resilient property sectors appear ready to weather any potential problems without severe distress.”
“Occupancies of 90% and higher persist in a near steady state equilibrium across most commercial markets from coast to coast.”
3. Toronto and Vancouver are still the top markets to watch for investment and development:
“Toronto and Vancouver retain their top survey rankings, boosted by international gateway status and diversified economies.”
“Calgary and Edmonton rebound with recent energy market gains, while Ottawa benefits from its large and sustaining government jobs base.”
4. The multifamily residential sector remains a safe bet:
“Continuing immigrant flows [will] sustain demand in the major cities. Even if job growth declines and home-buying cools, apartments should be a ‘safe haven.’”
“Aging demographics also favour more apartment demand: empty nesters and seniors move out of suburban homes into smaller, easier-to-maintain units with urban conveniences.”
5. But… renters will continue to favour condos over apartments:
“Apartment developers can readily obtain construction financing, but thin margins dampen interest: renters look for higher-finish condo-quality buildings, conditioned by all the condo units for rent.”
“Until the market turns, developers do better building condos instead. Investors can never get their hands on enough apartments.’”
-The Financial Post
Break Down:
So what does this mean? In short, business as usual. Despite the ongoing economic pinch felt around the world, The Alberta Advantage continues to see us through in good stead. In fact, when comparing the rends for Real Estate in Edmonton from last year, we're seeing a increase in sales:
Highlights of MLS® System activity (December 2011)
|
December activity |
Record for |
% change from |
|
Total MLS® System sales this month |
949 |
2.8% |
|
Value of total MLS® System sales - month |
$312 million |
3.6% |
|
Value of total MLS® System sales - year |
$6.29 billion |
2.4% |
|
Residential¹ sales this month |
$262 million |
1.5% |
|
Residential average price |
$316,415 |
1.7% |
|
SFD² average selling price - month |
$364,803 |
2.0% |
|
SFD median³ selling price |
$352,000 |
3.8% |
|
Condo average selling price |
$227,679 |
0.9% |
More good news from The REALTORS® Association of Edmonton: On January 4th of this year, the Association reported that, on average, the sale of properties on the Multiple Listing Service® (MLS®) increased by 1.7%, an increase of 2.0% in detached family homes. REALTORS® Association of Edmonton President (2011) Chris Mooney was quoted saying: “With economic uncertainty impacting Europe and depressed housing markets in parts of the United States, it is a relief to report on the stability and health of the local real estate market,”... “With prices and sales varying within a small range there is a solid base going forward into the 2012 market.
With stability and continued growth in the Edmonton real estate market, it's shaping up to be a great year!
Remember, be prepared. When considering the sale or purchase of your home, take the opportunity to enlist my expert advice, with a glowing 98% sales ratio, we can work together to ensure your success. Stop by the testimonials section to read what others have to say.
To Your Success Edmonton!
- Alison Murray, Edmonton Real Estate
New St. Albert Listing!
Stunning TURN KEY piece of Edmonton Real Estate in St. Albert. 2-Storey home with attached garage has everything a growing family needs. Located in quite cul de sac backing onto a quite farmer`s field, this 4 bedroom, 4 bathroom home boasts over approximately 2,286 sq.ft. of developed living space. Main floor features a spacious living room, dining room and kitchen in an open concept with Maple hardwood floors throughout, with big widows overlooking a large West facing pie lot. Upstairs you have a fantastic bonus room with computer desk, a Master suite with walk in closet and ensuite, 2 more bedrooms and another full bathroom. BRAND NEW professionally developed basement with large windows features family room, bedroom and full bathroom. Custom upgrades such as Maple cabinets and fireplace mantel in a rich ‘Spice shade`, recessed lighting, and approx. $10k of custom drapery and blinds is what really sets this home apart. Other notable upgrades include: laundry on main floor, A.C., and built in vacuum. Lastly, the private backyard is fully fenced and landscaped with a 12x14 deck and stone patio with NO neighbours behind you! Walking distance to 5 schools; minutes to Anthony Henday. Truly a perfect family home and shows a 10++. 60 Norris Crescent. $549,900. MORE PHOTOS COMING JANUARY 3OTH!!!
Southwest Edmonton Real Estate - New Listing!
Welcome to this Rare Gem in Riverbend! Half duplex with 4 bedrooms and double garage is located in an ideal Southwest Edmonton location across the street from spectacular single family residences. Open floor plan with over 1594 Sq.ft. of developed living space and soaring vaulted ceilings. Dining room opens to your large living room with fireplace. Upper level features 2 spacious bdrms with 1 and a half renovated baths. Lower level has large windows with 2 more roomy bdrms with another full baths. Delightful kitchen with upgraded cabinets, Teak hardwood floors, subway backsplash, and granite kitchen island. Garden patio door looking over your deck and large mature trees for privacy. Recently painted, fixtures upgraded, and custom Hunter Douglas blinds. Shingles, eaves troughs, HWT, furnace and carpet replaced in 2010. Steps from River Valley trails; walk to 5 schools, and Riverbend Club. 10 min to U of A. 20 min. to Downtown! NO CONDO FEES! 4511 Whitemud Road. $379,999
Edmonton Realtor, Alison Murray has launched her new website
Visit the today for a complementary home market evaluation; or for buyers, fill out our search form and let Alison find the perfect condo to suit your needs. http://www.edmontoncondosinfo.com Edmonton Condos
Edmonton Real Estate Market Statistics for May, 2011.
May 2011’s monthly stats update from the Edmonton Real Estate market:
Our average days on market (50 days) are the lowest that it has been in 4 years. The sales-to-listing ratio is 53% and is the highest it has been in 4 years. Both the days on market and the sale-to-listing ratio are good indicators of markets conditions and both have improved from 4 years ago.
Average Condo Selling Price -2.96% from May 2010
Medium Condo Selling Price +3.64% from May 2010
Average Single Family Home -2.48% from May 2010
Medium Single Family Home + 2.19 from May 2010
The summer is historically a busy time for sellers putting their homes up for sale. Slightly above average levels of inventory for the Edmonton real estate market at 8,180 in the month of May, gives buyers a good selection. With an increase of interest rates scheduled for the end of the summer, there is good chance we will see an increase in buyers getting their purchase wrapped up before the interest rates erode their purchasing power. Source: Edmonton Real Estate Board
La Maison Simons poised to open in Edmonton
Edmonton Real Estate houseing prices to stay steady for 2011
Updated: Wed Jan. 12 2011 12:49:28
ctvedmonton.ca
The president of the Realtors Association, Chris Mooney addressed thousands of Edmonton realtors during the annual Realtors Housing Forecast Seminar and said that he predicts that housing prices will say steady for 2011.
"The average price for single family detached Edmonton homes over the entire year was up 2.5 per cent in 2010 And for the second year in a row, condo prices are expected to remain flat with no significant increase in the year-long average price.
Realtors Association of Edmonton predicts buyers can expect to pay an average of $240,000 for a condominium next year, which is about what they would have paid in 2010.
Edmonton Real Estate Board News Release, January 5, 2011:
The REALTORS® Association of Edmonton released month end and year end results for sales through the local Multiple Listing Service® and includes all residential sales for the City of Edmonton and surrounding communities and counties.
As compared to December 2009, single family prices were down 2.5% and condo prices were off by 7.2%. The average price of all residential property sales in December was down 2.0% as compared to a year ago.
“Homebuyers are watching housing prices slide and may attempt to catch the market at the bottom by delaying their purchase but the low point is only evident about three months after it is reached,” said Larry Westergard, President of the REALTORS® Association of Edmonton. “Home sales are still happening each day and by waiting, the wary buyer may miss the ideal home.”
Residential sales activity in December was off 34% (784 sales) as compared to November but fewer homes (1,110) were listed and that reduced the available inventory by 18% to 5,721 residential properties on the Edmonton MLS® System. The average days on market rose from 59 to 66 days.
Year-over-year, the all-residential price (includes all single family, condominiums, duplex/rowhouses and mobile homes sold through the year in the Edmonton area) rose 2.6% from 2009. The SFD price rose 3.52% and condos rose 1.89% for the year. REALTORS® sold a total of 18,293 properties of all types in 2010 which was down 14% from 2009. They listed 40,597 properties which is up 7.6% from the previous year. Total Edmonton MLS® System sales were valued at $6.12 billion: a 12% drop from 2009.
| December 2010 activity | Record for the month* |
% change from December 2009 |
| Total MLS® System sales this month | 869 | -11.50% |
| Value of total MLS® System sales - month | $281 million | -10.20% |
| Value of total MLS® System sales - year | $6.12 billion | -11.70% |
| Residential¹ sales this month | 784 | -11.00% |
| Residential average price | $308,496 | -2.02% |
| SFD² average selling price - month | $355,270 | -2.49% |
| SFD median³ selling price | $336,500 | -3.99% |
| Condo average selling price | $223,454 | -7.20% |
¹. Residential includes SFD, condos and duplex/row houses.
². Single Family Dwelling
³. The middle figure in a list of all sales prices
Bayfield and RioCan Bought Edmonton Mall for $94.6 million
Is Commercial Real Estate Finally turning around?...West TORONTO - Bayfield Realty Advisors Inc. and joint venture partner RioCan Real Estate Investment Trust (TSX:REI.UN) closed Friday the acquisition of an Edmonton mall and surrounding property for $94.6 million.
The property includes Mill Woods Town Centre. The Edmonton shopping centre, built in 1989, is anchored by Zellers, Canadian Tire and Safeway stores.
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| Alison Murray, Realtor® RE/MAX Real Estate Central Suite 100 - 10510 - 121 Street Edmonton, AB. T5N 1L4 CA |
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