Edmonton Real Estate - Edmonton Homes for Sale - Norm Cholak RE/MAX River City
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Here are the latest month-to-date Edmonton Real Estate Market Statistics as of December 9, 2013.
Average Residential Sale Price: $334,670
Average Single Family Sale Price: $387,682
Average Condo Sale Price: $235,513
Average Duplex/Rowhouse Sale Price: $326,050
Total Sold Month to Date: 145
Average Days on Market: 60
For more information on how much your home is worth, call Norm at 780-991-1313.
On November 26, 2013, CMHC held their 2013 Alberta Housing Outlook Conference.
Here are some of the important highlights from that conference.
Alberta is expected to be among Canada’s economic growth leaders in 2013 and 2014.
Alberta’s growing economy is expected to generate employment growth of 2.8% in 2013 and 2.3% in 2014. This will keep the unemployment rate relatively low in Alberta compared to the national average at 4.6% in 2013 and 4.5% in 2014. Alberta’s expanding economy and labour market opportunities will continue to be attractive to migrants, thus net migration to the province will remain at an elevated level. While economic growth outside of Alberta is expected to improve, it is not expected to slow the annual flow of migrants to Alberta until 2014. Net migration reached 86,939 in 2012 and is projected at 95,600 in 2013 and 68,100 in 2014.
In the resale market, Alberta’s MLS sales are forecast to reach 65,000 in 2013 and then rise to 66,800 in 2014. Alberta’s elevated level of net migration will help support housing demand through 2014. In addition to new household formation, employment and wage growth will also support a higher level of resale transactions. After averaging $363,208 in 2012, the MLS price in Alberta will increase to $379,200 in 2013 and $387,400 in 2014. The Sales-to-new listings ratio for Alberta has been trending higher in 2013, indicative of stronger demand relative to supply. As a result some locations are beginning to exhibit sellers’ market conditions. However, ner listings are expected to increase in 2014 and this will help moderate the pace pf price growth next year.
Since 2010 Alberta has had a somewhat balanced market with this year and perhaps next year flirting with a sellers’ market.
There has been a strong transition in employment growth – mainly more full time jobs and less part time jobs.
We are still having a decent migration to our region.
The average price increase for Edmonton this year is reported at 3.2% and the predicted increase is 2.2% for 2014.
Did you know…it takes around 4 years for an immigrant to purchase a home and at least 50% of all immigrant purchase.
For more information visit the CMHC website at http://www.cmhc-schl.gc.ca/en/
Here are the latest month-to-date Edmonton Real Estate Market Statistics for the month of November 2013.
Average Residential Sale Price: $342,918
Average Single Family Sale Price: $393,422
Average Condo Sale Price: $242,485
Average Duplex/Rowhouse Sale Price: $323,101
Total Sold Month to Date: 1,156
Average Days on Market: 55
For more information on how much your home is worth, call Norm at 780-991-1313.
Here are the latest month-to-date Edmonton Real Estate Market Statistics as of November 25, 2013.
Average Residential Sale Price: $342,659
Average Single Family Sale Price: $393,987
Average Condo Sale Price: $240,450
Average Duplex/Rowhouse Sale Price: $321,597
Total Sold Month to Date: 926
Average Days on Market: 56
For more information on how much your home is worth, call Norm at 780-991-1313.
Here are the latest month-to-date Edmonton Real Estate Market Statistics as of November 18, 2013.
Average Residential Sale Price: $330,526
Average Single Family Sale Price: $380,554
Average Condo Sale Price: $233,479
Average Duplex/Rowhouse Sale Price: $311,413
Total Sold Month to Date: 596
Average Days on Market: 54
For more information on how much your home is worth, call Norm at 780-991-1313.
Here are the latest month-to-date Edmonton Real Estate Market Statistics as of November 13, 2013.
Average Residential Sale Price: $331,526
Average Single Family Sale Price: $379,564
Average Condo Sale Price: $239,151
Average Duplex/Rowhouse Sale Price: $306,528
Total Sold Month to Date: 303
Average Days on Market: 52
For more information on how much your home is worth, call Norm at 780-991-1313.
(NC) According to a recent forecast from the Canadian Real Estate Association, the housing market is poised to see 3.4 per cent growth in the coming year – and more and more of us are choosing condominiums.
Jamus MacPherson, a condominium insurance expert with Western Financial Group, encourages clients to read the fine print before signing on the dotted line. “Buying a home, whether it is a condo or a single family house, is one of the biggest financial commitments you will make in your life,” he says. “There are important differences between purchasing single and multi-family homes. When it comes to condos, keeping a few important details in mind can save you headaches in the long run.”
To help condo buyers sort through the clutter, MacPherson suggests referring to the following checklist:
Ask questions. Knowing the building’s history will give you peace of mind. Important questions to ask include: Do the unit owners own the recreational facilities as part of the common property, or does the condominium corporation lease them? How many units are rented? How much money is in the reserve fund and what major expenses, if any, are being considered in the reserve fund plan?
Schedule a comprehensive home inspection. This examination should not only include the unit you’re considering, but also the building envelope and common areas. When selecting an inspector or engineer, make sure they are qualified to provide a complete and reliable inspection. This will protect your investment in the long run.
Watch for last minute changes. If you’ve purchased a new-build condo, there is a chance that last minute changes may be made by contractors in construction. Keep a close eye out and don’t be afraid to ask questions if something isn’t as was initially agreed on.
Know what your condo board will cover. Anything to do with the complex’s structure is the responsibility of the condominium corporation, but you will need to secure your own insurance to cover personal property, liability or any changes you choose to make to the unit. According to MacPherson, understanding the condo corporation and the stability of the reserve funds is crucial.
“It is critical that you work with your broker to ensure that you not only protect yourself from losses to your own property, but also any costs that may be incurred from losses to the rest of the property that might be underinsured through the corporation.”
Be proactive with your insurance broker. Depending on the use of your condo, your insurance needs may change. “Many condo owners don’t realize that by taking on a roommate, or leasing out their unit, their current policy may no longer cover them,” says MacPherson. “Updating your broker on anything from new, valuable contents to cohabitation will ensure that you’re properly insured.”
www.newscanada.com
Here are the latest month-to-date Edmonton Real Estate Market Statistics for the month of October 2013.
Average Residential Sale Price: $331,595
Average Single Family Sale Price: $383,636
Average Condo Sale Price: $238,931
Average Duplex/Rowhouse Sale Price: $321,737
Total Sold Month to Date: 1,494
Average Days on Market: 53
For more information on how much your home is worth, call Norm at 780-991-1313.
I have had the pleasure of using Norm in the past for my real estate need and he was my first choice when selling this home. I knew he would get it done quickly and for the price I was looking for and that’s exactly what he did. Norm is great at what he does and I would definitely use him again in the future.
Here are the latest month-to-date Edmonton Real Estate Market Statistics as of October 29, 2013.
Average Residential Sale Price: $330,507
Average Single Family Sale Price: $380,747
Average Condo Sale Price: $237,479
Average Duplex/Rowhouse Sale Price: $317,064
Total Sold Month to Date: 1,253
Average Days on Market: 49
For more information on how much your home is worth, call Norm at 780-991-1313.
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