2024 April Condo Market Report

The Edmonton condo market is alive and well. Sales volume is extraordinarily strong. Prices continue to lift.

Sales Prices

In April 2024 condo sales prices ended 8% up when compared to the same month last year with an average price of around $234,000. The value trajectory is unmistakable. Condos in April sold for around $25,000 more than those in January. However, it’s entirely possible that values soften over the summer months in line with seasonal trends.

Sales Volume

In April there were 754 units posted sold on MLS system compared to 492 last year. This is the 12th consecutive month of volume sales growth. Absolutely incredible performance clearly indicating the value buyers place in condo product…

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3 Things We Like About Encore Master Builders


Encore Master Builders was first established in 1985 by Linda and Doug Hoffman.

In 1996 Encore Master Builders and Lincolnberg homes merged and was managed by Mr. Hoffman. During this period, the company experienced rapid growth and constructed around 300 homes. In 1998 the company de-merged and Mr. Hoffman resumed management of Encore Master Builders Inc.

According to the Encore website, in 2011 the Hoffman children purchased 50% of the company shares. In 2017, the balance of the shares was sold and today the company is entirely run by Doug’s children.

Encore Master Builders has successfully constructed over 2000 homes in and around the Edmonton market. And for many years, it was Encore…

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March 2024 Single Family Market Report

Single family home sales volume stayed higher, and prices lifted again in February.

Sales Prices

Single family homes prices climbed to just under $487,000 in March 2024 compared to around $460,000 in 2023, an increase of 6% over the previous year. Due to the shortage of inventory (see supply later in this report) we expect prices to climb even further as the spring market gets into gear.

Sales Volume

 

There were more than 1200 single family homes sold in March 2024 an increase of 50% over March last year. We expect sales numbers to stay high subject to availability of new inventory as more home sellers consider downsizing, or inventory opportunities are presented by the new home builder…

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2024 March Condo Market Report

The Edmonton condo market is alive and well. Sales volume is very strong. Prices are lifting.

Sales Prices

In March 2024 condo sales prices ended 9% up when compared to the same month last year. It should be noted that March last year saw a slight dip in values, so optimism needs to be tempered. However, the value trajectory is unmistakable. Condos in March sold for around $20,000 more than those in January.

Sales Volume

Volume for condo sales during the first quarter was impressive. Almost 1500 units sold during the first 3 months of 2024, surpassing the crazy year that was 2022 when 1430 units sold during the first 3 months of the year. In March there were 640 units posted sold on MLS system compared…

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3 Ways to Avoid Confusion & Overwhelm When Buying a Home in 2024


When looking for a home its easy to get excited and overwhelmed. Follow these steps for best results:

1. Prioritize and Maintain a Rolling Top 3: - Limit your top choices to three homes at a time. - After seeing four homes, eliminate one with your agent's help. - Rank your top three choices, designating one as your first pick to stay focused.

2. Embrace Imperfection: - Understand there's no perfect home. - Rate each home on a scale of 1 to 100. - Consider any home scoring 85 or higher as a strong contender.

3. Recognize Cream Puff Homes: - Be aware of exceptionally appealing homes. - Act quickly if you find a Cream Puff home that scores above 85 on your scale. - Don't wait…

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5 Ways to Win Your Dream Home in a Multiple Offer Situation

In the competitive hot spring market of 2024, lacking a proven strategy to succeed in multiple offer situations can lead to recurring disappointment and concern. Our team has crafted a meticulous 5-step method to bolster your offer's chances of triumph. Here's an overview of our process. We encourage you to discuss this approach with your REALTOR® to ensure a successful outcome.

1. Forge a Relationship with the Listing Agent:

It's surprising how many REALTORS® overlook this pivotal step. Instead of simply submitting an offer based on client instructions, your REALTOR®  should take the initiative to establish rapport with the listing agent. Building this connection can set your offer…

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3 Things We Like About Daytona Homes


Daytona Homes is a division of the family owned Tacada real estate company with strong Alberta roots. It was the Daytona brand established over 30 years ago that launched Tacada into the market leading to other brands and product offerings including City Homes, Accent Infills and Carriage Signature Homes.

We especially love the mission of the Tacada real estate company. Tally Hutchinson, the CEO and son of the founder Ralph Hutchinson puts it this way. “We enable the memories that only shelter, safety and stability can bring. We can never take for granted the immense impact of what we do every day.”

Daytona homes is a volume builder competing in the mid price- to higher end of the market. We believe that…

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3 Strategies for Success in the Hot Spring Real Estate Market of 2024

If you're eager to navigate the dynamic Edmonton spring housing market in 2024, whether it's for your first home, an upgrade, or downsizing, the intense competition & rising prices might pose challenges. Here are three effective ways to come out on top:

1. Act Promptly & Assertively

Move swiftly when a new property hits the market. Request your REALTOR®  to schedule a showing immediately. Be proactive by making an offer promptly; waiting for discounts might not be viable in the current scenario. Consider offering at or above the asking price for newly listed properties. Align with the seller's preferences on possession date, fixtures, fittings, & keep your condition dates…

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February 2024 Single Family Market Report

Single family home sales volume stayed higher, and prices lifted again in February.

Sales Prices


Single family homes prices climbed to just under $481,0000 in February 2024 compared to $440,000 in 2023, an increase of 9%. Due to the shortage of inventory (see supply later in this report) we expect prices to climb even further as the spring market emerges.

Sales Volume

The number of single-family homes sold in February 2024 is perhaps an even bigger story. There were 934 homes sold compared to less than 600 homes this time last year. This represents an increase of 63%. Let’s not forget, January sales exceeded last year by 51%. Perhaps this is an emerging trend?

Days on Market

…

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2024 February Condo Market Report

The Edmonton condo market is alive and well. Sales volume is very strong. Prices are lifting.

Sales Prices


In February 2024 condo sales prices ended 3% up when compared to the same month last year. This is a marked improvement over January when condo prices ended at 1% up.

Sales Volume

Volume for condo sales in January and February 2024 is the big story so far this year. There were over 500 units posted sold on MLS system compared to around 350 last year. This represents an impressive 45% lift in sales volume.

This is the 10th consecutive month of volume sales growth.

Days on Market

 

Condos sold for an average days on market of only 50 days compared 63 days last year and 59 days…

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