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Edmonton Real Estate January MLS Activity Summary

February 11, 2015 By

Edmonton Real Estate January MLS Activity Summary

Edmonton Real Estate January MLS Activity Summary

Average Residential Sale Price

January 2015: $362,394

January 2014: $347,847

January 2013: $326,081

Average Single Family Sale Price

January 2015: $427,147

January 2014: $416,344

January 2013: $397,872

Average Condo Sale Price

January 2015: $247,116

January 2014: $230,463

January 2013: $215,981

Average Duplex/Rowhouse Sale Price

January 2015: $388,939

January 2014: $336,220

January 2013: $325,094

Total Unit Sales

January 2015: 666

January 2014: 820

January 2013: 915

Average Days on Market

January 2015: 58

January 2014: 61

January 2013: 73

Follow Edmonton Realtor Norm Cholak on Facebook and Twitter to keep up to date on all your Edmonton Real Estate needs.

Filed Under: Statistics

EDMONTON REAL ESTATE STATS FOR JANUARY 2015

February 3, 2015 By

EDMONTON REAL ESTATE STATS FOR JANUARY 2015

EDMONTON REAL ESTATE STATS FOR JANUARY 2015

Single Family Average = $435,908
Condominium Average = $246,611
# of Listings =1793
# of Sales = 498

MONTH TO MONTH % CHANGE
Single Family Average = 0%
Condominium Average = -0.32%
# of Listings = +144.28%
# of Sales = -16.39%

YEAR TO YEAR % CHANGE
Single Family Average = +3.48%
Condominium Average = +5.55%
# of Listings = +33.91%
# of Sales = -27.41 %

Filed Under: Statistics

EDMONTON REALTOR REVIEWS: DARYL & CATHI ON NORM CHOLAK

February 2, 2015 By

EDMONTON REALTOR REVIEWS: DARYL & CATHI ON NORM CHOLAK

“My sister and I had to sell my late father’s Mill Woods condo over Christmas…not the best time to try and sell Real Estate. His condo was in good shape but dated and the bedrooms were in the basement. I thought for sure it would take at least a couple of months to sell, but Norm had it sold with about 10 days! Very impressed. Thanks Norm!

– Daryl & Cathi

EDMONTON REALTOR REVIEWS: DARYL & CATHI ON NORM CHOLAK

Edmonton Realtor Norm Cholak has over 26 years experience in Edmonton Real Estate. Call him at 780-991-1313 to put that experience to work for you!

To read more Edmonton Real Estate reviews on Edmonton Realtor Norm Cholak click here! 

 

Filed Under: Testimonials

EDMONTON HOMES REAL ESTATE STATS FOR JANUARY 2015

January 26, 2015 By

EDMONTON HOMES REAL ESTATE STATS FOR JANUARY 2015

Edmonton Homes Real Estate Stats for January 2015 (Month to Date)

Average Residential Sale Price: $363,864

Average Single Family Sale Price: $445,364

Average Condo Sale Price: $243,091

Average Duplex/Rowhouse Sale Price: $355,381

Total Sold Month to Date: 104

Average Days on Market: 65

EDMONTON HOMES REAL ESTATE STATS FOR JANUARY 2015

January 2015 has shown an increase in the average residential sale price. Month to date in January 2015 the average residential sale price is 363,864. When compared to the average residential sale price in January 2014 we see a 4.6% increase, and a 11.59% increase if compared to January 2013.

SINGLE FAMILY HOMES

The average single family home sale price month to date in January 2015 is $445,364. Again, we see an increase of 6.97% when compared to January 2014, and a larger increase of 11.94% if compared to January 2013.

CONDOMINIUMS

The average sale price for Condominium so far in January 2015 is $243,091. This also has also showed an increase of 5.48% when comparing it to last year’s average condominium sale price in January 2014 of $230,463. In January 2013 the average sale price was $215,981, showing an 12.55% increase since then.

DAYS ON MARKET

The average for days on market for single family dwellings is currently remaining steady at 65 days on market for January 2015.  In January 2014 it was 61 days on market and in January 2013 it was 73 days on market.

Visit Norm Cholak on Facebook and Twitter for daily Edmonton Real Estate updates.

Filed Under: Edmonton Homes, Statistics

8943 80 Avenue : Edmonton : Sold

January 23, 2015 By
Thank you Kerry & Tammy it was a pleasure helping you sell your home!


Thank you Kerry & Tammy it was a pleasure helping you sell your home!

Ready to join Kerry & Tammy and put Norm’s 26+ years of experience to work for you? Click on the appropriate Red Button below:

Sellers start here button Buyers start here button

Filed Under: SOLD!

EDMONTON REAL ESTATE: CHANGES TO LENDING RATES

January 21, 2015 By

EDMONTON REAL ESTATE: LENDING RATE CUTS

EDMONTON REAL ESTATE: LENDING RATES

This morning the Bank of Canada governor Stephen Poloz made the unexpected announcement that the Bank of Canada cut lending rates by a quarter of a percentage point, citing the plunging oil prices as the reason. Considering that Canada’s main income comes from oil exports, which will be reduced along with investment and employment in the energy sector, the drop in oil prices are not helping the Canadian economy according to the Bank of Canada.  The new rate is now 0.75% was originally at 1%, since the fall of 2010. This rate drop was not predicted by economist and has taken the market by surprise.

This move is significant and it shows how the Bank of Canada is concerned about the recent drop in Canadian oil prices and how this uncertainty can pose an effect on the Canadian economy. Recent oil prices have went below $50 US a barrel from $105 US in June 2014. This decline has weighed in significantly on the Canadian economy and considering the rate that they have dropped, it creates this uncertainty on the impact it will have on Canada’s economic outlook. The loonie has also changed from 1.1 cents to 82.6 cents US and is now at its lowest level since April 2009.

The Bank of Canada has also scaled back its original forecast for Canadian economic growth this year from 2.4% to 2.1% in 2015. Ultimately they believe that the GDP growth will be 2.1% and will rise to 2.4% in 2016. This revised growth forecast is based on the assumption that oil prices will average out at $60 US a barrel over the next 2 years. With oil prices going down, this could significantly increase the risks of inflation and financial stability in Canada.

Filed Under: Edmonton Real Estate, Miscellaneous Articles

Improve Your Credit Rating in 2015

January 13, 2015 By

Improve Your Credit Score

Here are nine ways to help improve your credit rating. 

It’s the beginning of a new year, here are some quick tips to help you improve your credit rating in 2015.

1. Pay Your Bills On Time: Always remember to pay your bills on time. Utility bills like your phone, cable and electricity are not always recorded but many phone companies report late payments.

2. Pay Off Your Debts: Always pay off your debts as soon as you possibly can, and try to pay off the highest interest debts off first.

3. Pay In Full: When possible, pay the balance off all your credit cards, every month.

4. Stay In Your Limit: Do not go over the credit limit on your credit cards.

5. Carefully Apply for Credit: Don’t make too many credit applications. When applying for a mortgage on a home, use a mortgage broker. Your score doesn’t change if you make personal credit inquiries.

6. Contact Creditors: If you are having troubles making payments, contact your creditors to work out possible solutions.

7. Read Your Statements: When you received statements from your credit card company, make sure you read them carefully and make sure you are up to date with any changes or fee increases.

8. Two Card Maximum: Avoid store credit cards. Keep your credit usage to no more than two credit cards and one line of credit.

9. Credit Report: Get a copy of your credit report from all three credit reporting agencies at least once a year to make sure your credit is in order.

Filed Under: Miscellaneous Articles

New Heights for Edmonton Home Sale Prices.

January 7, 2015 By

New Heights for Edmonton Home Sale Prices.New Heights for Edmonton Home Sale Prices.

In 2014 we saw the price of an average single family home in Edmonton soar to the highest they have ever been. Part of the reason is due to the major increase of luxury home sales in Edmonton. In 2009 Edmonton only had 54 homes sell for over a million dollars, whereas when we compare that to 2014 we had 147 homes sell for over a million. The Real Estate Association of Edmonton found a 9.8% increase in the sales of single family dwellings, with the average sale price being $432,713 in 2014.

In the beginning of the year it was foretasted by the Real Estate Board of Edmonton would see at least a 3% increase in sale prices, which ultimately turned out to be an increase of over 5% by the end of 2014. November is when the sale prices peaked and the average sale price for a detached single family home in the Edmonton area was at $442,884. Condo sales peaked at $262,273 in the month of August. The majority of homes in Edmonton are sold for under $450,000. 78 per cent of the Edmonton homes sold in 2014 fell under that category.

The amount of houses sold in Edmonton also increased, in 2013 17,077 homes sold, whereas in 2014 we saw 18,991 homes sold, increasing 11% in one year. This is of course due to the steady flow of migration that the city has seen through new people moving to Edmonton to look for employment opportunities.

December was the slowest month in 2014 with only 770 homes sold, showing a 3.3 per cent drop when compared to November’s home sales of 1239. Homes were not staying on the market long in 2014 they averaged 47 days on the market, which is the lowest days on market we have seen in seven years.

Filed Under: Statistics

EDMONTON REALTOR REVIEWS: JEFFREY & MARGARET ON NORM CHOLAK

January 2, 2015 By

EDMONTON REALTOR REVIEWS: JEFFREY & MARGARET ON NORM CHOLAK

“Norm’s reputation as a TOP Edmonton Realtor is much deserved. Understands the real estate market very well and makes appropriate recommendations. Keeps one updated on the progress and makes the selling process rather seamless. Highly recommended whether one is buying or selling as he is works very hard for you and  has a tremendous database. Easy going with a sense of humor.”

J+M

EDMONTON REALTOR REVIEWS: JEFFREY & MARGARET ON NORM CHOLAK

 

Filed Under: Testimonials

EDMONTON REALTOR REVIEWS: OFELIA ON NORM CHOLAK

December 22, 2014 By

EDMONTON REALTOR REVIEWS: OFELIA ON NORM CHOLAK

“Norm Cholak’s service was excellent! I will recommend him in the future to my friends and family who are looking to buy or sell.”

“He really cares about his clients.” – Ofelia 

EDMONTON REALTOR REVIEWS: OFELIA ON NORM CHOLAK

Filed Under: Testimonials
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