The pace of the market is changing, and many people are starting to wonder if the Edmonton and area market is favouring buyers or sellers at this time i.e., June 2022.

The best metric for gauging this question is supply.

In general, if the number of homes or condos for sale would run out in less than 4 months, that is considered a seller’s market.

When the supply is between 4 and 6 months that is a balanced market and when inventory exceeds 6 months that is considered a buyer’s market.

How do we calculate supply? We take the inventory number at the start of the month and divide the number of homes sold in that month into it. The resulting number is the months of supply.

So, for example in Edmonton at the beginning of May there was 1893…

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COMING SOON! An exclusive Ambergate Realty Advisors listing. This home may not yet be on the open market. To view it first, contact us today. Lots at realistic prices in Spruce Avenue and other areas in the downtown core of Edmonton can be hard to find. We are pleased to bring this opportunity to the market on a 50 x 150 foot lot. Build a large single-family home, a duplex or perhaps 2 skinny homes? Or choose instead to buy and rent it out for a while. Your choice. To see ALL homes listed for sale in Spruce Avenue Area click this link: ALL Homes listed.

 


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If you are like most modern home buyers, you start to research the market by going to www.Realtor.ca and perhaps as many as 11 other websites so that you can scour the market.

When you are ready to start looking at homes you may do one of 2 things: 

First you will ask a friend or a friend’s friend who is a REALTOR® to come out and show you some homes, or second you will call the listing REALTOR® because it’s convenient and if you can make a deal directly, you might be able to squeeze her on commission and pocket the savings yourself.

Honestly you can do better than this.

You should look around for a REALTOR® that is going to add value not only to your home search, but also to the selection and negotiating process too.

Find a REALTOR®…

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The May condo market continued to surprise. Our current market favours condo sellers.

Sales Prices

In May 2022, average sales prices were $236,464 compared to $232,745 in May 2021. This is an increase of 2% when compared to May 2021. The blended average increase for the year to date is about 4%. 

Sales Volume

In May 2021 there were 470 total Edmonton sales registered. In May 2022, 570 sales were registered. This is an impressive increase of 21% over the year before. As these numbers confirm, condos have really caught buyers attention this year. 

Days on Market

Condominiums sold in May 2022 after an average of 45 days, compared to 47 days in May 2021. As the market continues to ‘speed up’ this confirms the boldness that many…

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The May market performed amazingly well compared to the same time last year.

Sales Prices

In May 2022, average sales prices remained high, but lower than the month before. The average price was $484,220 compared to $458,411in May 2021. This is an increase of 5% when compared to May 2021. The ‘blended’ increase for the year so far is 7%. Have values peaked for 2022? Perhaps. 

Sales Volume

In May 2021 there were a total 1427 Edmonton sales registered. In May 2022, there were 1303 sales registered equal to an 8% reduction in sales volume year on year.

Days on Market

Buyers continued to quickly select homes in May 2022 and the average time to sell was only 24 days, compared to 27days in May 2021. Although this stat is…

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I follow the teachings of many real estate coaching schools one of which is Ninja Selling, a networking program pioneered by Larry Kendall a broker & trainer based in Ft Collins Colorado.

Recently he presented a video, the message behind which I wanted to share.

When you are presenting the purchase contract to your buyer or seller client, I suggest you highlight the key areas around which the entire contract is based.

And when you send the contract over to the other agent, why not highlight these same key points with suggestions as to why the contract is worthy of strong consideration. Larry reports that one of his agents does this & has enjoyed a 100% acceptance rate in multiple offer situations.

Our standard 6 page AREA (Alberta Real…

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Have you ever watched Deal or No Deal? It originated in Holland & versions have been offered on TV around the world. Briefly this is how it works. A contestant is presented with a lineup of seal suit cases. Inside each is a cheque for varying amounts of money. Sometimes huge amounts. The contestant selects one case for putting aside as their ‘grand prize’ and then one by one rejects the other cases as they are opened. Sometimes the amount of the cheque is small & so the contestant has given up nothing & eagerly moves onto the next one. Sometimes however the cheque is written out for tens or even hundreds of thousands of dollars. After the rejected cheque is announced, the game show host offers the contestant an ‘instant cash offer’ based on an average…

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There’s no doubt that single family homes have become the number one choice for home buyers during these last 3 years, perhaps due to folks seeking space during the Covid Pandemic. 

What we do know for sure is that at the time of writing there is just 2 months of supply which is extremely low. In general, we don’t get to a balanced market until there is 4 months of supply.

Here is a link to a short video where I discuss: Why Should You Care About Home Supply?

Against the backdrop of high demand & low supply, you can expect to pay top dollar for a single-family home & if that is your desire then you must do so. 

Here is a link to ALL homes for sale in the Edmonton area currently: ALL Homes for Sale.

So, what about the condo market? At…

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You have been in your single family home for many years. You raised your kids here. You have so many happy memories here. So why move? I’ve suggested 4 reasons why downsizing might make sense for you. If none of these apply, then you should stay where you are and enjoy your home.

1. Too Much Work?

Many owners of single family homes in particular have suggested to me that as they have grown older, the idea of climbing ladders to clear gutters, paint walls, gardening and general maintenance loses its appeal and perhaps becomes more dangerous.

2. Too Much Space?

Empty nesters in particular express to me that they feel they are ‘rattling around’ in their empty home. They no longer want to clean, heat and pay taxes on square footage they don’t…

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