If inventory levels stay lower in 2023, sales values will lift.

Sales Prices

Condo buyers have pushed hard and negotiated solid discounts in January 2023. Average sales prices for 2023 was around $205,000 compared to around $220,000 in 2022 and around $217,000 in 2021.

Sales Volume

January 2022 was an extraordinary year and sales volume for January 2023 was about 7% down. However, it matched 2021. I do not think there is cause for concern.

For many home buyers condos make the most sense.


Days on Market

Condos sold in only 68 days on average in January 2023 compared to 75 days in January 2022. In my opinion, this confirms the underlying confidence that buyers have in condo product.

Supply

There is still…

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The January market delivered a strong price performance.

Sales Prices

In January 2023, average sales prices were 1 percent down compared to 2022, but $11,000 ABOVE 2021. The average sales price for January 2023 was around $438,000 compared to around $440,000 in January last year. A negligible difference.

Sales Volume

Sales volume was disappointing relative to the last 2 years. There were 481 single family sales reported in January 2023 compared to 724 sales in 2022. I expect sales volume will pick up nearer to 2021 levels as the year matures. Last year, 2023 was extraordinary and not likely to be repeated in the foreseeable future.


Days on Market

Average days on market in January 2023 was 61 compared to 52 last year and…

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Your database should be a place that you spend several hours in a day. Its at the very core of your client pipeline, but show big should it be?

Someone called Dunbar (an anthropologist I believe) has suggested that the maximum number of people with whom you can maintain a meaningful relationship is 150 people. A group bigger than this simply unmanageable for most people.

What do you do if your database is bigger than that? On our team we send out regular and valuable content several times a week to our much larger database and many of these folks come into our inner circle of their own volition when they are ready.

How should you segment your 150 person database?

Create 2 groups. A Hot List and a Warm List.

Hot List

Your Hot List…

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A little over 3 months ago Randy Agustin joined our team. Randy has successfully passed his probation program and is now a fully-fledged Advisor / Partner.

I have been impressed by Randy’s commitment to his craft. Randy has showed up to his work with determination and grit. Randy has demonstrated a strong commitment to the wellbeing of his clients, and this is precisely what makes for an ‘Ambergate Realty Advisor’.

I asked Randy about his experiences so far. His answers follow:

1.  Why did Randy decide to join the Ambergate Realty Advisors Team?

  • Stuart’s close mentorship.

  • The open and friendly team culture.

  • The coaching and development program for a new REALTOR® like me.

2.  What does Randy have to say about his experience…

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It's completely normal to have worries when making such a significant purchase as buying a home. Here are some tips for addressing each of the concerns you mentioned:

  1.  Missing out: It can be difficult to find the perfect home, and it can be frustrating if you feel like you're constantly missing out on properties that are snatched up before you can make an offer. One way to mitigate this worry is to work closely with a REALTOR® who can help you stay informed about new listings and assist you in making timely offers. In addition to listed homes our search process will uncover off market homes and other opportunities in the in the hidden market It’s also a good idea to have a clear idea of your budget and what you're looking for in a home, so you…

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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.

Could this well maintained home on a quiet street in Highlands be your next home. Its got hardwood, a newer roof, electrical and plumbing, a modern kitchen and lots of space for the family. It has 3 bedrooms upstairs and a fourth bedroom that could also be an office in the basement area. The tranquil private yard features mature landscaping and has 2 custom decks one of which has a grapevine climbing along it.

Call the office for an early viewing at 780-760-2014 x3 or, to see ALL homes listed for sale in Highlands click this link: ALL Homes listed.



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The December condo market continued to be very active, and sales volume remained high.

Sales Prices

Average sales prices for 2022 was $221,807 compared to $221,518 in 2021. Prices were essentially flat.

Sales Volume

Sales volume is the big story for 2022. Over 5,200 condos sold in 2022 across Edmonton compared to around 4,600 in 2021 an increase of 14%.


Days on Market

Average days on market for 2022 was 56 days compared to 58 days in 2021. This confirms the underlying confidence that buyers have in condo product in my opinion.

 

Supply

Supply is the achillea heal of the Edmonton condo market and has been for several years. There is currently a 7-month supply although this will drop off because many condo…

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The December market continued to slow in line with seasonal expectations.

Sales Prices

In December 2023, average sales prices were slightly down compared to last year. The average sales price for December was around $4450,000 compared to around $455,000 in December last year.

However, the annual price increase for single family homes was 4% i.e. $469,000 for 2022 compared to only $455,000 in 2021.

Sales Volume

After the amazing and unexpected start to the year, sales volume fell off. Sales volume ended the year with 595 fewer units being sold in 2022, when compared to 2021, a drop of about 5%.

12,256 single family homes sold in the Edmonton area by the end of 2022. Although down on 2021, its still around 3000 units or 33% up…

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Enthuse

Start by preparing for the call and have a clear understanding of the purpose of the call. This will help you feel more confident and in control of the conversation.

Practice your introduction and opening statement. Make sure you have a strong opening that clearly communicates the purpose of your call and captures the attention of the person on the other end. Avoid talking too much about the house they looked at on your website.

Broaden the discussion right away by asking what strategies they have employed or plan to use in order to find their next home.

Use a friendly and confident tone of voice. Avoid sounding monotone or robotic, as this can make you come across as disinterested or lacking enthusiasm.

Sharp as a Tack

Use…

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Recently I met up with the owner of this growing business, Thamir Sharif to talk about his current project in Crestwood, his background and plans for the future.

Thamir is a young and enthusiastic family man who started his tenure in the construction business about 12 years ago. Initially he was a renovator and flipper. His first new build project was back in 2012.

These days Thamir focuses on creating luxury level homes intended for the discerning homeowner.

Thamir explained that he is not in the volume business. In most years he will oversee less than 10 projects per year, although in 2022 he was involved in projects that took him to ’20 doors’ some of which was multi family construction on behalf of a client.

In 2023 he expects most of his…

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