Buying a home can be risky from a financial and emotional point of view. Our educational blogs are intended sure to make your experience and home buying journey is enjoyable plus rewarding...

The pace of the market is changing, and many people are starting to wonder if the Edmonton and area market is favouring buyers or sellers at this time i.e., June 2022.

The best metric for gauging this question is supply.

In general, if the number of homes or condos for sale would run out in less than 4 months, that is considered a seller’s market.

When the supply is between 4 and 6 months that is a balanced market and when inventory exceeds 6 months that is considered a buyer’s market.

How do we calculate supply? We take the inventory number at the start of the month and divide the number of homes sold in that month into it. The resulting number is the months of supply.

So, for example in Edmonton at the beginning of May there was 1893…

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If you are like most modern home buyers, you start to research the market by going to www.Realtor.ca and perhaps as many as 11 other websites so that you can scour the market.

When you are ready to start looking at homes you may do one of 2 things: 

First you will ask a friend or a friend’s friend who is a REALTOR® to come out and show you some homes, or second you will call the listing REALTOR® because it’s convenient and if you can make a deal directly, you might be able to squeeze her on commission and pocket the savings yourself.

Honestly you can do better than this.

You should look around for a REALTOR® that is going to add value not only to your home search, but also to the selection and negotiating process too.

Find a REALTOR®…

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There’s no doubt that single family homes have become the number one choice for home buyers during these last 3 years, perhaps due to folks seeking space during the Covid Pandemic. 

What we do know for sure is that at the time of writing there is just 2 months of supply which is extremely low. In general, we don’t get to a balanced market until there is 4 months of supply.

Here is a link to a short video where I discuss: Why Should You Care About Home Supply?

Against the backdrop of high demand & low supply, you can expect to pay top dollar for a single-family home & if that is your desire then you must do so. 

Here is a link to ALL homes for sale in the Edmonton area currently: ALL Homes for Sale.

So, what about the condo market? At…

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Why do you need to move? Do you want something bigger, smaller or in another location? Or do you want to leave renting behind and become a homeowner? Whatever it is, think hard and long before you enter the market.

Because if you do enter the market, you will need to behave in ways that may make you uncomfortable. However, if you act appropriately you will succeed in the current hot market that is metro Edmonton and find your dream home

Here are 4 ways you can be successful:

1. Be Assertive

This market is not for looky-loos. By all means look at a few homes before making a choice, but do spend a great deal of time exploring all possibilities with your REALTOR® before you even start to go out shopping. Be willing to look at fewer homes. Be…

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Its February 2022 and we talk with prospective home owners every day. Some are starting to express concern at rising prices. Some are suggesting they will wait until the ‘boom’ is over.

This could be a big mistake. The Edmonton and area market is 2 years into its current UP cycle and history suggests that a full cycle is around 7 to 8 years. In other words, there is lots of UPSIDE yet to come.

If you are in a position where you can commit to living in your home for 5 to 10 years I suggest you do it now. Here are 3 solid reasons why:

1. You start building wealth the moment you assume ownership

2. At the current time (February 2022) you will have less competition from other buyers. Most buyers start shopping in May. You don’t have very…

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1.  Quick Access to New Listings

Don’t rely on REALTOR.ca. This website is managed by the Canadian Real Estate Association (CREA) and it’s a good tool. But! Often it receives listings updates 24 hours and sometimes 72 hours AFTER a listing hits the market. You need a local REALTOR® and to be registered on a LOCAL website in order to get listings updates within a few minutes. In a market with low inventory, you must have your finger on the button to beat out other buyers.

2.  Exclusive Access to Unlisted Homes

There’s a hidden market. A good local REALTOR® will know which homes were up for sale in the past and did not sell. A good local REALTOR® will approach the owners of homes you really like in a particular neighbourhood and ask if they…

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Affordable homes in the Elmwood area of Edmonton can be hard to find. We have just listed this one for sale at 8603 164th Street NW Edmonton. Click the link to read the details. Exclusive Home Listed by Ambergate Realty Advisors. 

To see ALL homes listed for sale in Elmwood click this link: ALL Homes listed.

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When I reviewed the market stats yesterday, there was 1799 condos for sale across the whole of Edmonton that’s 4% down when compared to January 2021.

And there were only 1510 single family homes for sale, down 18% on this time last year.

What does this mean for you?

If you are a home or condo seller this could be your time. Values are edging up nicely and you may receive more than you were expecting.

If you are buyer, you may have to make compromises and be willing to pay more than you had hoped for. Unless more inventory enters our market, you may have to pay even more if you wait until Spring.

To discuss your own situation in more detail, please contact your Advisor Partner, or reach out to me directly. I am always pleased to help.

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COMING SOON! This home will be on the market over the next week, with an asking price of between $720,000 to $730,000 according to the owner.

If you want to see inside this home, please call this office at 780-760-2014 x3 or fill out the contact form below...

Originally owned by Mr. Gullion who hailed from the Orkneys in Scotland, Mr. Gullion came to Edmonton as a former worker for The Hudson’s Bay Company. He purchased one of the river lots. Today the home is listed as a ‘Municipal Historic Resource. You can read more about that program by clicking this link Edmonton Resource Link. There are restrictions on how you can change the exterior. On the inside you will enjoy more leeway subject to program rules.

Based on my tour, I would describe…

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On a regular basis people to chat with grumble about the high cost of housing. Sometimes they lament for years gone by when everything was so much more affordable. Of course, this is really all in our heads. Of course, everything cost less years ago, but incomes were also much lower too.

A better comparison might be to look at the cost of homes in Edmonton relative to other cities across Canada. Again, on a regular basis I chat with people who have moved to Edmonton from cities like Toronto or Vancouver because its much easier to afford a home at all when compared to those cities. I have also heard that the amount of disposable income (after housing costs) is much higher than in other cities so perhaps we enjoy a higher standard of living too?

I…

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