Edmonton Real Estate Blog

 

Summary:

Home buyers continued to demonstrate their believe in the Edmonton housing market by paying more and by purchasing in larger numbers.

Sales Values:

Prices jumped up in November 2017. Home sellers received almost $383,000 on average compared to around $379,000 in 2016. This equates to about a 1% increase or $3251 per home seller.

Numbers Sold:

This is big news. 112 more homes sold this year compared to November 2016. Excess inventory also came down. In October there were 688 more homes for sale when compared to October 2016. In November excess went down to 448. Supply is still at 6 months.

 Days on Market:

Homes went under contract in 64 days this November compared to 62 days in November 2016. This is not

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Don’t fall into the trap of complacency

At this time of the year, hundreds of home sellers witness outstanding success and sell for full market value.

 Between mid December 2016 and mid January 2017 over 600 homes sold in the Edmonton market taking around 60 days to sell. Click on this link to see the detail Edmonton Market Report.

Here’s why you could do well:

  1. Reduced competition. Many sellers just give up until Spring. Buyers who are looking at this time of the year are serious. They might pay you a premium price, if they can move in quickly.
  2. Home values often go up. Based on last year’s statistics house prices in the metro Edmonton area increased just before Christmas.
  3. Many Edmonton area workers get bonuses at Christmas. Why
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Stuart did an excellent job in promoting and selling my parent’s home. He is very approachable and provided solid advice. I would definitely go to Stuart again. And I love the Flat-Fee cost.

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If you are going to put your home up for sale, you are likely wondering how much its worth. What you might not realize is that the price you eventually sell for will be a direct result of the choices you make in 7 areas.

Let’s discuss each of them one by one:

Your Timing

How quickly can you move out?

Based on years of experience I have noticed that the best qualified buyers are almost always in a hurry. The best buyers are ‘between’ homes and anxious. The quicker you can help deliver them from this state the more attractive your home will be.

And just in case you were worried that offering immediate possession could make you homeless please don’t worry. In most cases, it takes a few weeks to find a buyer and a few more weeks to close the

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Situation

Merle has successfully sold her own homes before and on this occasion she purchased the Comfree program. After her unit in Sherwood Park was on the market for 6 months and still no buyers, she decided that she had to find a more effective way to market her home. Merle found that the discounted flat fee program offered by Ambergate Realty Advisors was a great fit for her.

Result

At the time of writing, (November 2017) the condo market was flooded with condos for sale. After a comprehensive advertising and marketing strategy, the team at Ambergate Realty Advisors found a suitable buyer candidate in Winnipeg.

Merle is picture above in the doorway of her unit and holding a gift card that we were pleased to present to her.

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Situation

Sandra is a big supporter of local businesses and she was looking for a service provider who could help her to sell the former Capilano home of her parents. However, with so many homes on the market, Sandra was eager to find a real estate sales company that really understood modern marketing techniques, specifically social media marketing.

Sandra was also reluctant to pay traditional REALTOR® commissions. The flat fee program offered by Ambergate Realty Advisors was a great option.

Result

Multiple offers and money saved on commissions.

Selling any home this year has been a challenge. Inventory levels have never been higher. After implementing a comprehensive marketing program and after a reasonable period, the team at

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      A sincere thanks to Stuart and his team for their efforts in helping us sell our home. We certainly had initial reservations regarding the level of service we would receive from a "low-cost" realty company, however, those concerns were quickly nullified. Stuart is great to deal with and he's always available to answer any and all of our questions. We would not hesitate to refer the services of Ambergate Realty to our friends & family. Thanks again Stuart!
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Summary:

October 2017 proved to be a positive experience for home sellers across the Edmonton market. The market put its nose up. Sales values increased. Days on market is about the same and the inventory surplus is starting to come down.

Sales Values:

The average sales price of a home in Edmonton in October 2017 was around $376,000 compared to approx. $372,000 in 2016. This means that home sales values were UP again by 1% over the same period last year or just over $4,000 on average.

Days on Market:

It took 58 days to put most homes under contract in October 2017 compared to 57 days in 2016. This is not significant in our view and speaks to the underlying strength of our market here in Edmonton.

Numbers Sold:

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