If you are thinking of selling a home soon, you should start thinking about how to select a REALTOR®. 

Your first approach could be to seek out the local expert for the community in which you want your home sold. 

On the surface this makes perfect sense. Maybe the ‘local expert’ has an exclusive network of buyers looking in the area. Perhaps a ‘secret sauce’ to success. 

However, if local experts ever truly existed, the internet made them redundant years ago.

The internet and social media has completely changed the way that homes are bought and sold. 

We suggest you look for a real estate company that knows how to find ALL buyers for your home. 

A firm that employs a comprehensive home selling process and employs a team of…

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Summary:

If you are in the market for a new home, this is the time to buy. There is a now a wide selection of homes available and you may be able to negotiate a significant discount.

Read the details by scrolling through the report.

Numbers Sold:

Perhaps the best news for sellers in April 2018 is that we saw 1131 homes sell. This confirms the overall size and strength of the market in Edmonton. However, this is the time when we look for sales volume to remain robust and perhaps even increase. There were 39 fewer sales than in 2017.

Days on Market:

Home buyers continue to take their time when selecting homes in April 2018. Average days on market increased by 2 days compared to the same time last year. Considering the much…

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Assuming your home has been positioned correctly for the market, it would not be unusual to get a dozen or more showings within the first 2 weeks to a month depending upon the time of year. It would also be reasonable to expect to receive at least one offer.

What do you do if you have not had an offer? If you have set up ALL of your 8 Home Selling Keys correctly, you only have one choice. Make a price correction!

At this point you may resist and be tempted to offer the following refrain.

“They can always make an offer. Can’t they?”

And you would be right. They, (meaning potential home buyers that have toured your home) could just make an offer, However, if your pricing is too ambitious, they likely won’t.

Here are some reasons why not:

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Summary:

Despite the back drop of higher inventory levels compared to March 2017, home sales values remained stable. However, unit sales were down marginally and days on market jumped by 2 days. Read the details by scrolling through the report.

Sales Values:

During March 2018 homes were selling for almost as much as last year. This year on average home sellers received around $650 MORE than in 2017.

Month End Inventory

Compared to the end of March 2017 there was 764 MORE listings for sale this year. This equates to a 6 month supply.

In most circumstances we hope for a 3 or 4 months’ supply of homes for sale to maintain some rigor in the market.

Numbers Sold:

In total, 152 FEWER homes sold in March 2018 compared to…

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Summary:

After we saw sales values drop in January, they rallied nicely in February. This speaks to underlying confidence that home buyers have in the Edmonton market. We all have to live somewhere and renting is not a long term option for most.

Sales Values: 

Home sellers witnessed some uplift in January.

Sales values were on average $371,698, an impressive $7,300 UP on February 2017.

Month End Inventory

Compared to the end of February 2017 there was 480 MORE listings for sale this year. This equates to a 6 month supply.

Normally an extremely high supply currently a 3 or 4 months’ supply of homes for sale is preferred to keep the market vigorous.

Numbers Sold:

The actual number of sales dropped by 76 units. In…

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If you want to sell your home, it’s crucial that you make the necessary preparations even before you meet your REALTOR®.

Follow these steps and provided you make a good choice in selecting a REALTOR®, (see this link for hints on REALTOR® selection) you will be well on your way to success.

1. Tidy up, pre-pack & throw stuff away

If you have lived in your home for any length of time, chances are that you have accumulated far too much stuff. Those souvenirs that we buy on vacation, Christmas and birthday gifts from years gone by, extra furniture now redundant, unused DVD or CD collections, books, tools, towels, clothes, sports equipment. You get the picture?

In every room, start at the lowest horizontal surface and work your way up. Not only will…

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Summary:

Home buyers jumped into the market with enthusiasm this year. There were more homes purchased in January 2018 than in January 2017. However, values did soften and buyers have been taking their time to make selections.  It took 11 day longer to find a buyer this year, than in 2017.

Numbers Sold:



There were 71 MORE homes sold in January 2018 compared to the same month last year and this is good news indeed. The total number of condos and single-family homes sold was 667.

Month End Inventory

Compared to the end of January 2017 there was 421 MORE listings for sale year. The equates to a 7 month supply. In general, a 3 or 4 months’ supply of homes for sale is preferred to keep the market vigorous.

Days on Market:

Not…

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Summary:

Perhaps spurred on by the impending changes to lending rules in Canada effective January 1st, 2018 homes sales volume picked up nicely in December. However, sales prices experienced a correction and days on the market increased.

Numbers Sold:

In December 2017 there were 107 MORE homes sold than in December 2016. That is 716 homes sold in 2017, compared to only 609 homes sold in 2016. Encouraging.

However, month-end inventory levels went up to 4708 homes for sale compared to only 3815 homes sale in December 2016. This represents an increase of 893 homes or 7 months supply.

Days on Market:

Homes went under contract in 69 days this December to 66 days in December 2016. This could be significant when the higher levels of…

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Summary:

Home buyers continued to demonstrate their believe in the Edmonton housing market by paying more and by purchasing in larger numbers.

Sales Values:

Prices jumped up in November 2017. Home sellers received almost $383,000 on average compared to around $379,000 in 2016. This equates to about a 1% increase or $3251 per home seller.

Numbers Sold:

This is big news. 112 more homes sold this year compared to November 2016. Excess inventory also came down. In October there were 688 more homes for sale when compared to October 2016. In November excess went down to 448. Supply is still at 6 months.

 Days on Market:

Homes went under contract in 64 days this November compared to 62 days in November 2016. This is not…

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Don’t fall into the trap of complacency

At this time of the year, hundreds of home sellers witness outstanding success and sell for full market value.

 Between mid December 2016 and mid January 2017 over 600 homes sold in the Edmonton market taking around 60 days to sell. Click on this link to see the detail Edmonton Market Report.

Here’s why you could do well:

  1. Reduced competition. Many sellers just give up until Spring. Buyers who are looking at this time of the year are serious. They might pay you a premium price, if they can move in quickly.
  2. Home values often go up. Based on last year’s statistics house prices in the metro Edmonton area increased just before Christmas.
  3. Many Edmonton area workers get bonuses at Christmas. Why…

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