The Gist: January 2016

“The Gist” is adapted from the REALTORS® Association of Edmonton Monthly MLS® Report and Press Release. Every month I summarize and post “the gist” of the MLS® data for Edmonton and area real estate activity.

The average*** single family detached price in the service area of the Edmonton Multiple Listing Service® was down 1.3% to $418,928.
The average condominium price was down 8.8% to $227,052
The average duplex/ row house price was down 12.7% to $326,885.
The average days-on-market in January was up to 61-days.
There were 618 reported residential sales and 5,751 residential units for sale at month end.

The REALTORS® Association of Edmonton releases month-end and year-end results for sales through the local Multiple Listing Service® and includes all residential sales for the City of Edmonton and surrounding communities and counties. ***Average prices indicate market trends only. They do not reflect actual prices, which vary from house to house and area to area. Prior period figures have been adjusted to include late reported sales and cancellations and therefore reflect a more accurate view of the period than previously reported at month end. For information on a specific area, contact me directly***
Activity (for all residential sales on Edmonton MLS® System)

January 2016

Change from
December

Change from January 2015

SFDaverage selling price – month

$418,928

-1.34%

-1.23%

SFD median4 selling price

$387,750

0.71%

-0.70%

Condominium average selling price

$227,052

-8.80%

-10.27%

Condominium median selling price

$220,000

-8.33%

-8.71%

All-residential5 average selling price

$339,714

-7.24%

-6.34%

All-residential median selling price

$330,000

-4.35%

-3.42%

# residential listings this month

2,364

85.0%

1.98%

# residential sales this month

618

-13.3%

-7.21%

# residential inventory at month end

5,751

13.0%

39.2%

# Total6 MLS® System sales this month

796

-14.3%

-11.3%

$ Value residential sales this month

$240 Million

-18.8%

-14.2%

$ Value of total MLS® System sales – month

$269 Million

-21.5%

-18.4%

$ Value of total MLS® System sales – YTD

$269 Million

-96.8%

-18.4%

1 Census Metropolitan Area (Edmonton and surrounding municipalities)
2 Single Family Dwelling
3 The total value of sales in a category divided by the number of properties sold
4 The middle figure in a list of all sales prices
5 Residential includes SFD, condos and duplex/row houses.
6 Includes residential, rural and commercial sales

Jan2016Infographic

///…CP

Come Home To: 60 Edwin Crescent


Welcome home to this 1,803 square foot fully developed Jayman-built “Discovery” model 2-storey home in Erin Ridge.

MAIN LEVEL
Pause in the gracious front entry then proceed into the expansive open-concept main floor space including generous living room with gas fireplace and kitchen with maple cabinets, butcher’s block centre island, and stainless steel appliances. The breakfast nook offers access to the private year yard. The laundry room and a 2-piece powder room complete the main floor plan.

UPPER LEVEL
Ascend to the upper level and discover the master bedroom with walk-in closet and 4-piece ensuite bath that includes a corner shower and soaker tub. Two additional bedrooms and a large bonus room complete the upper level.

LOWER LEVEL
The basement is fully developed with an additional bedroom, 3-piece bath including corner shower, and a large family room.

ADDITIONAL FEATURES
Additional features of this warm family home include an oversized 21’ x 24’ attached double garage, 2-tiered deck with aluminum railings, and incredible location backing Ted Hole Park.

Come home!

Download PDF Brochure

Address: 60 Edwin Crescent, St. Albert, AB  T8N 7G8
Style: 2-storey
Built: 2003
Size: 1,803 square feet
Bedrooms: 4
Bathrooms: 3.5
Taxes: $4,505 (2015)
Municipality:
 City of St. Albert
Public School: St. Albert Public Schools
Catholic School: Greater St. Albert Catholic Schools
Recreational Facility: Servus Place

Contact us today for more information about this property or to schedule a viewing.

///…CP

Flipping About The Market?

Are you looking to invest in property? Some shows about home renovating make it look fairly simple to buy a rundown house, fix it up and “flip” it for tens of thousands of dollars more. But before you begin to entertain the idea of rolling up your sleeves to make a quick buck on the market, make sure to not only investigate the property thoroughly, but also the area it’s in and the comparative values of other homes in the immediate vicinity.

Your first step should be to pick up the phone and ask me for a no-obligation rundown of recent real estate activity – what is currently on the market, what has recently sold and for how much, how long they took to sell and what condition they were in.

You’ll also want to get a feel for the direction the area is going in. Is it an established area or an up-and coming one with great potential? Does it attract single people, young families with kids or an older crowd looking to downsize? Let’s review these factors and more to help determine exactly what home features would be most appealing to the next buyer, and therefore where best to spend your renovation dollars.

If you’re looking to invest in a property then take the first step and call so we can go over the many factors involved. Let’s touch base to discuss your expectations, work through your property-buying budget and review the realities of renovations.

///…CP

Come Home To: 36, 61 Lafleur Drive


Welcome home to this 1,192 square foot fully developed end unit bungalow in Lakeview Estates.

MAIN LEVEL
Offering tall ceilings and windows galore, the main floor den welcomes you as you enter the home. The open-concept kitchen has maple cabinets, centre island with sink, and a dining nook with patio doors out to the backyard. The living room is cozy with a gas fireplace framed by windows on either side and 10-foot ceilings.
The master bedroom is off the living area with a large bay window, 4-piece ensuite bath, and walk in closet. The main level also offers a 2-piece powder room, mudroom with laundry area, and extra cabinets for storage.

LOWER LEVEL
The basement is fully developed with an additional bedroom, 3-piece bath including walk-in shower, large family room with additional fireplace, games area, and a bonus workshop area with extra storage.

Lakeview Estates is a desirable complex with low condo fees and great neighbours.

Come home!

Download PDF Brochure

Address: 36, 61 Lafleur Drive, St. Albert, AB  T8N 0X5
Style: Bungalow
Built: 2006
Size: 1,192 square feet
Bedrooms: 2
Bathrooms: 2.5
Taxes: $4,444 (2015)
Municipality:
 City of St. Albert
Public School: St. Albert Public Schools
Catholic School: Greater St. Albert Catholic Schools
Recreational Facility: Servus Place

Contact us today for more information about this property or to schedule a viewing.

///…CP

A Question of Etiquette

Viewing prospective properties can be a minefield of unwritten rules. Answered here are buyers’ most frequently asked questions about open house and private showing etiquette.

Can I bring my kid(s)?
Of course! But should you? Unless you’re serious about a property, consider leaving them behind. You’ll get more out of the viewing since you won’t be distracted, and you won’t risk your child(ren) possibly doing damage to the seller’s property or hurting themselves.

Can I open closets, cupboards, and drawers?etiquette
Closets? Yes, absolutely! Cupboards and drawers? That depends. Are they permanently affixed to the property (e.g., kitchen cabinetry)? Then yes! Are they attached to belongings the seller will take with them (e.g., dressers, armoires)? Then no. Rummaging through their contents? Never.

What if I have to use the bathroom?
If you can hold it, do. But if it just can’t wait, ask permission first – the seller may have designated a specific bathroom they’d prefer guests use. And if you do go, make it quick and leave everything exactly as found!

Is it OK to take pictures or record video?
Until it’s sold, that property you’re wandering around is still someone’s private residence. So the rule here is the same as for the bathroom: ask permission first. Understandably, some sellers have security concerns and may prefer you didn’t take images.

Do I have to take my shoes off?
If asked to do so, whether by a sign, a seller, or a salesperson, it’s just good manners to comply. Always be prepared for this request by wearing good socks or stockings under shoes you can easily slip off and on.

///…CP