Edmonton Real Estate - Edmonton Homes for Sale - Norm Cholak RE/MAX River City
Edmonton real estate listings and Edmonton homes for sale brought to you by Norm Cholak of RE/MAX River City
Here are the latest month-to-date Edmonton Real Estate Market Statistics as of November 30, 2014.
Average Residential Sale Price: $381,370
Average Single Family Sale Price: $442,884
Average Condo Sale Price: $255,166
Average Duplex/Rowhouse Sale Price: $354,041
Total Sold Month to Date: 1137
Average Days on Market: 51
For more information on how much your home is worth, call Norm at 780-991-1313.
2014 has been a good year for Alberta. It has been the leader in economic growth across all Canadian provinces. Alberta’s energy production and development has been the key driver in this strong economic performance and will continue to push Alberta’s growth in the coming years. The Canadian dollar being low this year also helped increase the value of our exporting energy and that has helped the provincial government have a surplus in it’s operating budget this year. Alberta has definitely benefited from it’s fast growing population, which is primary due to the people that move to Alberta for it’s employment opportunities. In 2014 Alberta had the highest growth rate in employment out of all the provinces. The new housing market in Alberta was projected to rise by 4% to 19,300 units and is predicted to remain relatively stable at 19,200 unit in 2015 and 19,000 in 2016. In the resale market, the new listings are rising and projected to continue growing. In 2014 the average MLS sales price in 2014 was projected to rise 4.7% to $398,900, and it is looking to continue increasing to $407,800 in 2015 and $417,500 in 2016. The increases in the MLS sale prices will create competition for the new home builders and will ultimately provide consumers with more options.
Homes became more affordable across Canada in 2014 according to the latest Housing Trend and Affordability Report issued by economic researchers. Ownership costs are fairly low in Alberta and compared to long term and national averages. The province has climbed by 0.4% points for bungalows and 2 storey homes. Whereas the measure for condos eased by 0.2% and stands at the lowest level among all the Canadian provinces. Resale across Canada has increased for the 8th time in the past 9 months which is reflective of the hot markets in Edmonton, Calgary, Toronto & Vancouver. Strong demands for the homes in these cities, has been shown through the prices appreciating much faster than other local markets. A decline in fixed mortgage rates was the key reason there was such a growth in the housing market since the spring of 2014.
Thank you Ofelia it was a pleasure helping you sell your home!
Ready to join Ofelia and put Norm’s 26+ years of experience to work for you? Click on the appropriate Red Button below:
Thank you Phil and Lillian, it was a pleasure helping you sell your home!
Ready to join Phil and Lillian and put Norm’s 26+ years of experience to work for you? Click on the appropriate Red Button below:
Testimonial from Ping & May:
“We bought our first home through Norm Cholak over a decade ago and we enjoyed our experience so much that we knew we would be contacting Norm again in the future. When we were ready to upgrade homes, we got in touch with Norm and again he was happy to help up find the right property. We learned so much from our previous experience with Norm, that we did our homework in advance, so that we could make a decision quickly and we were ready to purchase when Norm found us the perfect property. Buying a home can be stressful, but with Norm’s experience and professionalism, he made it an enjoyable experience once again.”
“Thank you Loke, it was a pleasure helping you sell your home!”
Ready to join Loke and put Norm’s 26+ years of experience to work for you? Click on the appropriate Red Button below:
Looking for an accurate market analysis on your home? Call Norm Cholak today at 780-991-1313.
With 26 years of Real Estate experience nobody will work harder for you because Norm Cholak Sells More Homes!
Just a quick note:
Call me for an accurate market analysis!
Nobody will work harder for you!
I look forward to hearing from you.
-Norm Cholak
It was a pleasure helping you sell your home!
Ready to put Norm’s 26+ years of experience to work for you? Click on the appropriate Red Button below:
Edmonton has recently been hyped as one of Canada’s hottest residential markets for investors in recent weeks and has also been recognized as the top residential market based on potential growth and economic development. Edmonton had seventeen homes in the previous month sell for over 1 million dollars. Edmonton’s current REIN score which is based out of a possible 50 is currently standing at 45. The REIN score is based on such things as how well a city deals with factors such as job creation, population growth, post-secondary education and city infrastructure. As well it’s yield for potential growth, housing to rental ratio and how much rental increase potential. Edmonton topped the list just beating out Calgary by 1 point. Meanwhile, other cities that were high on the list were Fort Saskatchewan at 43 out of 50 and St. Albert came in at 39 out of 50.
If you are looking to get into the real estate market as an investor call Norm Cholak today at 780-991-1313 to have him help you buy or sell today!
You must be logged in to post a comment.