Ambergate Edmonton Real Estate Blog

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Wildrose in south east Edmonton has a well-deserved reputation for offering families and first-time buyers alike value price high specification homes for sale. We are pleased to present this exclusive Ambergate Realty offering: 3620 22 St NW Edmonton home for sale. 

To sell ALL homes for sale in Wildrose click here ALL Wildrose Homes for Sale

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Many REALTORS®, buyers and sellers are starting to fall into the trap of believing that there’s nothing for sale. Don’t fall into that trap. This is never the case.

I like to tell my clients that the market is like a river. As listings float down the river, they do leave our sight as many are sold.

But – newer listings are always coming along. Where’s the evidence?

As of May 4th, 2021 around 231 single family homes have been listed for sale this month and 141 condos have been listed for sale this month too.

And as we move onto the time when traditionally inventory numbers swell that is May and June, buyers can expect a better selection and sellers a bit more competition.

As always contact me if you need help with anything.

About the…

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All markets are different, but in Edmonton and area, REALTOR® ® services are usually offered the same way across the industry. However, in recent years a few innovators have come along that you should know about. Here are some options.

1. Traditional REALTORS®

Service quality will vary. Traditional commissions in our market are based on a “7 and 3” formula. In other words, the total commission is based on 7% of the first $100,000 of the sale and 3% of the balance above that amount. For example, a home that has sold for $400,000 would create a commission due of $7,000 plus 3% of the balance of $300,000 or $9,000 for a total of $16,000. Usually if a traditional REALTOR® is working with the buyer and seller, they will pocket the entire commission.…

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It you are in the market to buy a home, you are probably hearing that everything is selling and that that there is simply no inventory.

Many listings particularly, single family homes are selling quickly. However, the inventory is being replaced with a steady supply of fresh new choices. The market is always being refreshed.

See the stats below for Edmonton, (excluding sister markets like St Albert, Sherwood Park, Ft Saskatchewan, Beaumont, Stony Plan and Spruce Grove).

Single Family

So far this month and its only May 4th, 231 single family homes have been listed for sale on the Edmonton MLS® System.

In April 1378 single family homes were listed for sale on the Edmonton MLS® System.


Condos

So far this month and its only May…

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In April, sales volume blew through the roof compared to last year, although price gains moderated. With strong buyer demand and lower inventory, we anticipate brisk activity during the next few months.

Sales Values

In April 2021, average sales prices stayed high at $395,567, just below the average price of $396,006 in March. Have we seen the peak for the year? No one knows for sure and certainly in a normal year, we would see sales prices peak in May and June. 

Days on Market

Our days on market stat. continues to amaze. Buyers have been snapping up homes ever more quickly since the start of the year. Average days on market in April was only 39 days, compared to 62 days in 2020 and 57 days in 2019.

Sales Volume

Last year…

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Unless you have sequestered yourself to a desert island somewhere you have probably heard that the housing market is on fire. And it is. Metro Edmonton home values are currently trending about 10% ABOVE last year’s values and sales volume is up by 67% too. It’s been a hectic year so. However, you should know some specifics about what is really going on and could happen as we move into the balance of the year.

1.  Its Single Family Specific

Its really a tale of 2 markets. Single family homes have become much sought after in the last 12 months perhaps due to Covid worries, and they are in short supply. At the time writing there is approximately 500 FEWER single-family homes for sale than last year and yet demand has exploded. Subsequently, values are…

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All markets are different, but in Edmonton and area, REALTOR® services are usually offered the same way across the industry with a few outlying differences.

At first glance hiring a REALTOR® to help you search for and find a home may appear to be free of charge. That’s because your REALTOR® will usually receive a commission in exchange for helping you find and purchase a home or secure an investment.

When you sign a Buyer Brokerage agreement as you must, under provincial legislation, you are promising to protect your REALTOR® and to acknowledge that they will receive compensation for their time and expertise when you close on a transaction.

Usually, the money comes from the proceeds of the sale, or in other words, money that you have brought…

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For many people this is a fretful time. Perhaps you have heard that single family home values across metro Edmonton have gone through the roof. This is true. Values are currently trending at above 10% over last years values. However, there are several factors you should consider before deciding if you will sell now, or wait.

1. It won’t last forever

We are experiencing extremely high demand for single family homes and an inventory shortage perhaps due to worries over COVID. In other words, more and more people see the value in buying some space to keep their families safe, whilst others are saying let’s not move until COVID is over. Once the market moves into a state of equilibrium, values will level off and may eventually drop, perhaps as early…

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Perhaps you are thinking of selling your home privately.

Perhaps you have a relative or a neighbour that wants to buy your home?

Or perhaps as often happens, especially when the market is hot, you find a potential buyer after placing a sign on the lawn, or you ran a Kijijji advertisement?

Before you get too far, please consider the value of engaging with a good REALTOR® and their ability to take your home to the Open Market. Why?

If your goal is to get top dollar, you must go to the Open Market.

1. Your home will be exposed to ALL buyers

Not advertising the home for sale properly and for sufficient time, puts you at distinct a disadvantage and almost guarantees you will not get full market value. Only through the participation of all…

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Full disclosure. I picked up this useful approach from Ninja Selling and it has nothing to do with Harry Potter, but it does work miracles :-)

If your buyer and seller counselling sessions are rigorous enough, you will glean all kinds of information.

Know this. Not all of it will be accurate and sometimes clients will back out for all kinds of reasons from telling you how they really feel or think.

In other words, you will come across 2 kinds of dialogue. External dialogue where folks will simply give you a straight answer you can trust. The second kind of dialogue is internal and it’s this inner narrative that you need to drill into, to learn how your client really feels or thinks about a particular matter or decision.

For example, your…

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