4 Reasons to Consider Buying a Brand New Home in 2024

Should you buy a home that already exists, or should you buy a brand new home?

Here are 4 reasons why a new home might be the best choice.

1. Customization

New homes often offer more options for customization. Buyers can choose layouts, finishes, and even some architectural elements to suit their preferences.

2. Energy Efficiency

New homes tend to be built with modern energy-efficient materials and technology, leading to lower utility bills and a reduced environmental impact.

3. Modern Amenities

They often come equipped with the latest amenities and technology, such as smart home features, updated appliances, and efficient heating/cooling systems.

4. Warranty and…

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2023 December Condo Market Report

The Edmonton condo market is alive and well. Sales volume is very strong. Prices remain moderate.

Sales Prices

Condo sales prices recovered in December after a softer November. The average price paid was around $216,000 and this is 9% up when compared to December 2022.

And condo prices have been improving since August after a sluggish first half of the year.

Sales Volume

Since May 2023, we have witnessed improving sales numbers for condos. December finished particularly strong. There were 405 condo sales posted, up from 250 the year before. That’s a massive 62% improvement in sales volumes.

This is the 8th consecutive month of volume sales growth.

Days on Market

Condos sold for an…

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December Single Family Market Report

Single family home sales volume stayed higher in December.

Sales Prices

Sales prices settled at around $432,000 in December, down slightly on the month before as expected and lower than December 2022.

When taken as an aggregate, sales prices for 2023 ended up at 1% down on 2022, although from May prices we equal or better than the year before.

Sales Volume

The market was very busy in December. Around 880 homes sold in December 2023 compared to only 430 homes in December 2022. For the last 5 months, sales volume has easily surpassed volume for 2022. It should be noted that overall volume for the year is 9% down on the year before due to the slower start to the year.

Days on Market

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Preferred Partner – TFK Renovations

Selecting a contractor to refurbish your kitchen, your bathrooms, your basement, or even your entire home can be a tricky business.

Finding a contractor that charges fairly, keeps their promises, and delivers a result on time is not always easy. That’s why I suggest you take a look at TFK Renovations.

Established for over 8 years at the time of writing. Owned and managed by Cheryl Fuller Kiziak and Marcel Turcotte, these contractors have worked for me personally. I would highly recommend them.

When they first started, they were the official contractor for IKEA in Edmonton. Since that time, they have branched out and today they can offer their own line of cabinets, alongside preferred access to the IKEA…

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November Single Family Market Report

Single family home prices stay higher in November.

Sales Prices

Sales prices continue to climb. In November 2023, average sales prices settled at almost $458,000 down slightly on the month before, but up by $8,000 compared to November 2022. For the last 5 months, sales values have equaled or exceeded values for the same time last year. The single-family home market is trending up. When compared to 2022, average prices are 3% up based on average sales value.

Sales Volume

 

 

Around 770 homes sold in November 2023 compared to 570 homes in November 2022. For the last 6 months sales volume has easily matched or exceeded volume for 2022.

Days on Market

 

Average days on market in November…

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November Condo Market Report

The Edmonton condo market is alive and well. Sales volume is very strong. Prices remain moderate.

Sales Prices

Condo sales prices softened in November in line with seasonal trends. The average price paid was around $205,000. Condo buyers were able to drive a hard bargain in November. This is around $10,000 LESS than this time last year or 5% down. The last half of the year has seen prices improve. However, buyers were winning big discounts in the spring and this drives down average prices for the yeear. For the entire year, we expect the average prices for condos to be around 4% less than in 2022.

 

Sales Volume

There were around 440 condos sold in November compared to around 290 units sold in…

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How to Sell a Home Now & Move Later!

Do you know of someone that would really like to sell a house or condo but is putting it off until the spring?

Perhaps you would share this information with them?

 

Would you enjoy the certainty of selling your home on your terms without actually moving?

Would it be helpful to pull your equity out of your home or condo to pay off urgent debts?

Are you uncomfortable selling your existing home before you have a new one selected?

Would it help if you knew exactly how much money you have to invest in your next home?

Why not take the pressure off?

Consider a sale & leaseback.

How would this work?

Sell your home to a buyer today at a certain price & with a possession date in the mid to long…

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3 Reasons Why Waiting to Buy Your Home in the Spring Could be a Huge Mistake

Most of us would prefer not to move home when it’s cold and snowy. Some buyers have told us they want to delay their move until the Spring. That decision could be a HUGE mistake.

  1.            Interest Rates Are Not Going Down

The Bank of Canada intends to reduce interest rates IF it can. Most experts agree that if interest rates are lowered it will not be by very much. There is also the possibility they will go UP before they come down. If you can afford to buy a home you like at today’s interest rate, why not just buy it?

  1.                You May Miss Out to Other Buyers

Want to wait for that ‘cream-puff’ home that will be listed in the spring? Line up.…

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October Condo Market Report

The Edmonton condo market is HOT. Prices are lifting and sales volume continues to grow at impressive levels.

Sales Prices

condo prices october 2023

Condo sales prices climbed again for October 2023 at an average price of almost $230,000. This is 10% up over the same month last year and the highest prices all year.

Sales Volume

 

There were over 460 condos sold in October compared to around 300 units sold in October 2022. This represents an increase in volume of 48%. This is the 6th consecutive month of volume sales growth.

Days on Market

Condos sold for an average days on market of only 54 days. This is faster than the previous 2 years at 55 and 63 days. Buyers are selecting condo units quickly and with confidence. 

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October Single Family Market Report

Single family home prices stay higher in October.

Sales Prices

October single family prices edmonton

Sales prices continue to climb. In October 2023, average sales prices settled at almost $464,000 down slightly on the month before, but up $14,000 compared to October 2022. For the last 4 months, sales values have equaled or exceeded sales values for the same time last year. The single-family home market is trending up.

Sales Volume

Sales volume over last year was up by 21% and the month before was 22% up That’s right, fully a third more homes sold. Around 841 homes sold in October 2023 compared to 693 homes in October 2022. 

Days on Market

Average days on market in October 2023 was 42 days. This is 6 days faster than last…

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