Summary:

The number of condos sold this year was about the same as in the first quarter 2018. However, most units were selling at a discount. Do we see light at the end of the tunnel? If inventory levels tighten up, yes we do.

Numbers Sold:

In total, 653 condos sold in Edmonton during the first quarter of 2019. This compares favorably with last year when 765 condo sold. A difference of 112 units sold. Whilst this proves the underlying demand for condo homes in Edmonton, it’s also lower than last year. Perhaps some potential condo buyers are purchasing a single- family home instead due to exceptional affordability at this time?

Sales Values:

For the first quarter condo homes continued to trade at a discount when compared to…

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Summary:

The number of homes sold this year was about the same as in the first quarter 2018. However, most homes were selling at a discount. Do we see light at the end of the tunnel? If inventory levels tighten up, yes we do.

Numbers Sold:

In total, 1514 single family homes sold in Edmonton during the first quarter of 2019. This compares favorably with last year when 1674 homes sold. A difference of only 160 homes sold. This proves the underlying demand for single family homes in Edmonton.

Sales Values:

For the first quarter single family homes continued to trade at a discount when compared to last year. Most homes sold for about 6% LESS than last year, equal to an average discount of about $27,000.

Days on Market:

For…

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If you have been sitting on the fence about purchasing a home, this could be the time to get off it. Here’s why:

1.  Its Cream Puff Season!

In our industry we sometimes refer to the very nicest homes as “cream puffs”. When do you think the nicest homes come up for sale? Right about now. Put yourself into the shoes of a seller. If you had the nicest home in the neighbourhood, when will it show best? Typically, between the months of May and August is when homes look best. There is lots of natural light and the yard will look amazing. As a seller, when do most buyers pick their next home? Between May and July is when many homes are sold in the Edmonton area. If you have been looking for that ‘cream puff’ home, you had better start shopping soon.…

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Many of our clients are downsizers. If you have lived in your home for many years, there is a very strong possibility that you will find the process of downsizing, selling off surplus household items and going through the home selling process stressful and overwhelming. However, if you assemble a team of competent professionals to assist you with each step, it should go a whole lot easier and before you know it, you will be relaxing in your home and enjoying life once again. Please consider the following steps.

1.  Stop Calling It Home

Let go of your former home. The first red flag when I’m talking to a potential selling client is how they refer to their current address. If they refer to it as ‘home’ too often we have some work to do. For best…

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When deciding upon an asking price we always recommend that clients avoid falling into the trap of ‘wiggle room’ pricing. And by the way. We strongly advocate against ‘odd’ or ‘charm’ pricing your home. Read here for details: Choose a Round Number!

What are the pitfalls of wiggle room pricing?

1.  You Risk a False Start

The market is competitive and there is ALWAYS substitutes for your home. If you price too high, potential home buyers will simply avoid your listing and you risk getting fewer showings.

2.  You May Languish

Homes with ‘wiggle room’ are easy to spot. They sit on the market. When a listing is on the market too many days beyond what is considered a normal time on market it will start to languish in the market and could be…

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To ensure that your home buying process is as stress free and enjoyable as possible, we hand pick our preferred service providers.

You would be wise to get your future home inspected by a competent professional before you finally sign off on the contract.

Please consider using Joe Yaretz. Joe has completed many satisfactory home inspections for our clients. Our clients really seem to appreciate his thorough friendly approach. Joe will go out of his way to provide you with a solid understanding of what you are buying, but without scaring you away.

To contact Joe please click on this link: Joe Yaretz – Licensed Inspector

If you are wondering why hiring an inspector is recommended please click on this link: 3 Reasons to Use an Inspector

…

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Just over one year ago Stevi Lashley joined our team. Stevi has proven to be an excellent REALTOR®.

She’s persistent, professional, knowledgeable and highly effective when she represents her clients. Here is a recent testimonial that we received on our Facebook page.

“My Husband and I really enjoyed working with Stevi. She was very helpful and super efficient with sending us listings that met our criteria as well as setting up viewings. We will definitely be recommending her to our friends. Thanks again, Stevi!”

We are proud to have Stevi on our team.

To reach Stevi just click on this link: Stevi Lashley – Advisor / REALTOR®

About the author:

You can read more about the author of this blog by clicking this link – Stuart Neal Broker…

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Odd or Even Price - Which One is Best?


We are often asked by our home selling clients for guidance on pricing their home for sale. And most sellers think we are going to advise them to select a price that ends with a 9. Why? Known as ‘odd’ or ‘charm’ pricing the reason that many people think an odd price point could be best is based on years of conditioning and experience. I believe that a newspaper man came up with the idea that if he charged 9 cents not 10 cents for his paper he would sell more. And this belief has continued for decades. In essence it’s a trick and most people don’t appreciate it.

New research is emerging that proves this theory wrong. Why?

An even number conveys value, trust and transparency

According to Mark Anderson…

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Summary:

Inventory levels have stayed lower for 2 consecutive months. If this pattern continues, we should see a turnaround later this year.

Month End Inventory:

Over the last 2 years we have witnessed a large excess of inventory. This is no longer the case. At the end of March 2019 there were only 2150 condo units for sale across Edmonton compared to over 2500 last year.

Numbers Sold:

251 condos sold in March 2019 compared to 290 units last year, a difference of only 39 units. We don’t see this as significant.

Days on Market:

Condo buyers in March 2019 continued to act with confidence and contracted in 74 days compared to 70 days in March 2018. Again, we don’t this as significant.

Sales Values:

Discounted…

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Summary:

The number of homes sold this year was about the same as last year. However, most homes were selling at a discount. Do we see light at the end of the tunnel? If inventory levels tighten up, yes we do.

Numbers Sold: 

In total, 625 single family homes sold in Edmonton during March 2019. This compares favorably with March 2018 when 692 homes sold. A difference of only 67 homes sold. This proves the underlying demand for homes in Edmonton.

Month End Inventory:

The days of excess inventory are behind us. At the end of March 2019 there was only 371 more homes for sale compared to last year. If this pattern continues then values will harden at some point.

Days on Market:

In March 2019 most single-family homes…

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