According to the REALTORS® Association of Edmonton, total residential unit sales surged 26.34 per cent last month from the same time a year ago. Canadians are almost equally split in their confidence in Canada’s real estate market, with 39% as confident as they were prior to the pandemic, and 37% slightly less confident. However, some areas and product types are seeing a five percent increase. For more details on the content of the Edmonton real estate market, click the following Insights. The most popular property type among move-up buyers in Edmonton are single-detached homes and townhouses. At this price point, many buyers are getting great value, with the majority of the homes being newer infill or older beautifully renovated homes with large yards in mature areas, or huge lots, often with ravine or private nature backing, in new development areas. Current Edmonton MLS® stats indicate an average house price of $372,677 and 1,163 new listings in the last 28 days. The average price spent on a property by a first-time homebuyer is approximately $300,000.It is expected to be more difficult to enter the market as a first-time homebuyer in 2021, as there is expected to be less inventory, making it tough for buyers to find the right property. Healthy price increases are expected, with an estimated 3.7-per-cent increase in the average national residential sales price. First-time and foreign buyers are expected to drive demand in 2020. Read more about cookies here. New residential listings are down month The next issue of Edmonton Journal Headline News will soon be in your inbox. Many move-up buyers are looking for yards, more space, separate offices and finished basements. The hot streak in Edmonton’s real estate market is likely to fizzle early into next year, a new report suggests. Based on the current demand, single-family, duplex/rowhouse and townhomes with yards are a little undersupplied. We believe politicians are hoping to guide the market toward a typical annual real estate cycle with price growth in the range of 1 to 3% annually – in line with income growth. As of today, Edmonton housing data shows median days on market for a home is 45 days. “While we’ve seen a significant shift in buyer preferences this year, we believe factors such as the supply issue, pent-up demand and historically lower interest rates will continue to fuel activity in 2021.”. The 2020 RE/MAX Fall Market Outlook Report includes data and insights supplied by RE/MAX brokerages. If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation. Real Insights feature curated content from industry leaders during the program formation of the Real Estate Forums and Conferences. Currently in Edmonton, many examples of large assessments have been seen, mostly due to insurance costs escalating dramatically for condo corporations, which has resulted in higher condo-fees. Each report features on the Top 10 Real Insights focused on major trends. Contact Me today and begin your Edmonton real estate experience. According to the survey, 44% of Canadians would like a home with more space for personal amenities, such as a pool, balcony or a large yard. Sign up to receive daily headline news from the Edmonton Journal, a division of Postmedia Network Inc. Below, we dive deeper into the current trends within Canada’s most affordable urban real estate market and share our projections for Alberta’s capital city as we shift into 2021. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Looking for information on the Edmonton real estate market? If you don't see it please check your junk folder. A recent Leger survey conducted by RE/MAX found that more than half (51 per cent) of Canadians are considering buying a property in the next five years, especially those under the age of 45. According to our brokers and agents across the RE/MAX network, Canada’s fall market is expected to see spring market-like activity.”. Click to read the full RE/MAX 2020 Housing Market Outlook Report. “The summer went very well and anecdotally our agents were extremely busy,” Lucas said. An ongoing and widespread housing supply shortage is likely to continue, presenting challenges for homebuyers and putting upward pressure on prices. Increased unit sales, low inventory and shorter stays on the market. “This is certainly not the year we thought we were going to have,” she said. Many homebuyers are now exploring different neighbourhoods that better suit their new lifestyles, and real estate agents are getting busier and working more with buyers from different major cities. Overall residential sales … The Edmonton housing market experienced a drop in sales activity at the peak of COVID-19 lockdowns in April and May, but June saw activity 14% above the levels experienced in 2019. Visit our Community Guidelines for more information and details on how to adjust your email settings. Edmonton housing market sees decline in March The number of home sold in the Edmonton Census Metropolitan Area real estate market for March 2020 decreased by nearly three per … Move-up buyers in the Edmonton housing market are typically young couples. There was an error, please provide a valid email address. Area house sales increased more than 50 per cent in May from last month but continue to struggle year-over-year, according to the latest figures from the Realtors Association of Edmonton. Join the mailing list to receive daily email updates. Pent up demand for real estate in Edmonton brought sales back up to normal levels for June. It is expected that the city’s economy will improve when the government stimulates job creation and when a federal housing policy is implemented that will benefit all Canadian home buyers. Edmonton’s luxury market is currently driven by move-up buyers with the average starting price for a luxury home in Edmonton being $1,000,000. Edmonton’s housing market is expected to have a strong fall, with September and October anticipated to have higher than historical sales levels. This is compared to the 3.7% increase that was predicted in late 2019. Move-up buyers in Edmonton have changed the criteria on what they look for in a home due to COVID-19. I take professional and personal pride in keeping my clients abreast of market trends, news and have in-depth knowledge of the subtleties of purchasing and selling real estate in Edmonton. The pandemic has prompted many Canadians to reassess their living situations. Edmonton Is Now the Country’s Most Affordable Urban Real Estate Market! Strathcona and Glenora will continue to be very popular neighborhoods based on the amount of infill and new construction projects that are bringing a variety of pricing and housing options to buyers. The average sales price in Edmonton increased by 1% to $364,820 in 2020 (Jan. 1 – Oct. 31), compared to $361,152 in 2019 (Jan. 1 – Dec. 31). tap here to see other videos from our team. Mathew was born and raised in Edmonton, Alberta with his passion for real estate ingrained at a young age. Contact Me today and begin your Edmonton real estate experience. One new-home construction trend that has emerged throughout 2020 has been the need for home office space options, which is directly related to COVID-19. Due to these factors, the 2021 RE/MAX 2021 outlook for average residential prices is an estimate of +4% to +6% nation-wide. We apologize, but this video has failed to load. The number of new residential listings is up year over year, increasing 14.75% from October 2019. Contact Me today and begin your Edmonton real estate experience. The average price of a single-family home went up from last month by 0.79 per cent to $439,605, which is 1.01 per cent more than it was in August 2019. Ontario Real Estate: A Look at the Booming Quinte Area Market, Bank of Canada Makes Interest Rate Announcement, Steady Growth in Calgary’s Real Estate Market, Toronto Real Estate Supply: RE/MAX Executive Doubts Vacant Home Tax Will Help, 35% of RE/MAX brokers indicate that “move-over” buyers from other cities and provinces will continue to spark market activity in 2021, 45% of RE/MAX brokers indicate that move-up buyers will likely be a primary driver of the housing market demand in 2021, Half of Canadians (53%) are confident that Canada’s housing markets will remain steady in 2021, 52% of Canadians believe real estate will remain one of the best investment options in 2021, 48% of Canadians would like to live closer to green spaces, 48% of Canadians say it’s more important than ever to live in a community close to hospitals and clinics, 33% of Canadians would like more square footage in their home and have realized they need more space, 44% of Canadians want a home with more outdoor space and personal amenities (i.e. Comments may take up to an hour for moderation before appearing on the site. Learn more about RE/MAX real estate franchise opportunities in Ontario-Atlantic Region and Western Canada. Edmonton’s overall inventory was down 14.6 per cent in August from 2019, which is a decrease of 5.95 per cent from July. Edmonton’s housing market showed a big jump in August compared to last year but appeared to struggle month-to-month when compared to July. Real estate website offers comprehensive sale history, assessments of Edmonton properties June 10, 2019 Ed global news A new website is making real estate information more accessible for anyone interested in residential and commercial property in Edmonton. The RE/MAX Outlook for Edmonton real estate in 2021 is an increase of 2% in average price to approximately $372,116.40. “I don’t think anybody could have predicted that we would have seen the highest numbers in years based on where we started in January. Copyright © 2020 RE/MAX Ontario-Atlantic Canada Inc. All rights reserved. “Despite the tragic impacts of the pandemic, our optimism in the strength of Canada’s housing market has always remained, and current market activity further exemplifies this. I take professional and personal pride in keeping my clients abreast of market trends, news and have in-depth knowledge of the subtleties of purchasing and selling real estate in Edmonton. A welcome email is on its way. Leading indicators from RE/MAX brokers and agents across Canada’s housing market point to a strong market for the remainder of 2020. I take professional and personal pride in keeping my clients abreast of market trends, news and have in-depth knowledge of the subtleties of purchasing and selling real estate in Edmonton. Please try again. We ask you to keep your comments relevant and respectful. Check out the information here at ProctorTeam.com Many buyers put their plans on hold at the peak of COVID-19 lockdowns, but they returned to the market quickly to make up for lost time. Edmonton’s new-home construction sales are strong for single-family in both the suburbs and infill. Overall, brokers and agents in Western Canada say the potential buyers they are talking to are not too concerned with a potential second wave of COVID-19 impacting their real estate journey, and RE/MAX brokers are estimating steady activity to round out 2020. Has Edmonton’s real estate market bounced back despite the COVID crisis? Where to buy real estate in 2019: Edmonton By Romana King on June 3, 2019 Lots of commercial investment happening in Edmonton now bodes well for jobs and housing in the future. The latest figures show Edmonton's real estate market is flat or in slight decline, with no signs of recovery in the near future, says agent Todd Bradley. Hunt says that, like Edmonton, Calgary is ahead of many other municipalities in the economic cycle, with its real estate market now entering ‘recovery mode.’ These buyers are not looking at one property type specifically and are buying across all property types. RE/MAX brokers and agents are surveyed on market activity and local developments. How confident are Canadians in the housing market? I look forward to serving you. EDMONTON -- Benchmark home prices in Edmonton fell even further last month to their lowest point in more than six years, newly released numbers show. These neighbourhoods are expected to continue as the most popular neighbourhoods moving into 2021. I look forward to serving you. Unauthorized distribution, transmission or republication strictly prohibited. His family has been heavily involved in the home building industry for over 30 years. The average price for a condo in Edmonton is $222,181. New listings dropped 9.28 per cent from July and 3.96 per cent from the year prior. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Here’s the regional break-down: “Despite the tragic impacts of the pandemic, our optimism in the strength of Canada’s housing market has always remained,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. This advertisement has not loaded yet, but your article continues below. Altus Group released its quarterly forecast for housing across Canada, and it predicts Edmonton’s market will struggle due to weak demand from lacklustre economic growth, in large part because of the pandemic. ). RE/MAX Canada anticipates healthy housing price growth at the national level, with move-up and move-over buyers continuing to drive activity in many regions across the Canadian housing market. Condo prices also saw an increase of 1.79 per cent month-to-month, but a 2.23 per cent decrease from last year, to $229,172. Edmonton, AB Commercial Real Estate for sale and lease Find property details and pricing for recently listed commercial real estate properties for sale and for lease in Edmonton, AB. The area’s inventory decreased 5.95 per cent from last month and 14.6 per cent from August 2019. This is due to average values declining, at least until the oversupply of inventory is absorbed. I take professional and personal pride in keeping my clients abreast of market trends, news and have in-depth knowledge of the subtleties of purchasing and selling real estate in Edmonton. December 4, 2020 admin The hot streak in Edmonton’s real estate market is likely to fizzle early into next year, a new report suggests. Watch our Facebook page for a live market discussion next week. According to the RE/MAX Fall Market Outlook Report, RE/MAX brokers suggest that the average residential sale price in Canada could increase by 4.6% during the remainder of the year. Edmonton Housing Market Outlook (Fall 2020) September 1st, 2020 The Edmonton housing market experienced a drop in sales activity at the peak of COVID-19 lockdowns in April and May, but June saw activity 14% above the levels experienced in 2019. Acreage living is seeing an uptick in buyer interest as more Edmonton residents are now looking for more space in their properties. (I think that’s) what consumers want to know about when they’re either buying or selling or considering putting their house on the market.”. Many new and larger developments in the downtown, Oliver and Strathcona neighborhoods, many of which are integrated with expanding the LRT network, are expected to impact the market in 2020. From a national perspective, RE/MAX anticipates a leveling out of the highs and lows that characterized the Canadian housing market in 2019, particularly in Vancouver and Toronto, as we move into 2020. I take professional and personal pride in keeping my clients abreast of market trends, news and have in-depth knowledge of the subtleties of purchasing and selling real estate in Edmonton. Edmonton Real Estate Market ● Weekly Update Edmonton Real Estate Sales up 25% in October – UPDATED The real estate market is looking more normal this fall, after a very busy summer. Buyers are looking for single-family homes and yards, which includes duplex and row-style townhomes. Foreign buyers who previously flocked to Vancouver are now looking at Edmonton for growth in the coming years. I look forward to serving you. Edmonton real estate market burdened by job losses, stunted growth He expects some homeowners will be hit harder than others. According to a survey conducted by Leger on behalf of RE/MAX Canada, 32% of Canadians no longer want to live in large urban centres, and instead would opt for rural or suburban communities. As more Canadians have adjusted to the mortgage stress test and older Millennials move into their peak earning years, it is anticipated that they will drive the market in 2020, particularly single Millennials and young couples. © 2020 Edmonton Journal, a division of Postmedia Network Inc. All rights reserved. Here is our update on the Edmonton real estate market. Duplex prices dropped 3.48 per cent from August 2019, at $342,169, which was a 3.07 per cent increase from July. Browse 112 Commercial Real Estate listings in Edmonton, AB ranging from office and retail spaces to land and commercial buildings to find the best deal. Apartment condos are in oversupply. According to the Realtors Association of Edmonton, even though concerns remain over the coronavirus pandemic, residential sales in the city and surrounding areas are … There has been very little hesitation in move-up buyers when it comes to entering the market, as many are trying to take advantage of the low interest rates and low property values. When it comes to the prospect of a second wave of COVID-19, 56% of Canadians who are feeling confident in Canada’s real estate market are still likely to buy or sell. While COVID-19 lockdowns in March and April slowed down the housing market in Western Canada, transactions in Kelowna, Saskatoon and Vancouver resumed by May, with sales in both May and June surpassing year-over-year levels. Edmonton real estate is likely to continue as a balanced market in 2021, with demand being segmented. We encountered an issue signing you up. Edmonton’s housing market showed a big jump in August compared to last year but appeared to struggle month-to-month when compared to July. We’re seeing more listings come on the market, and buyers now have the benefit of extremely low mortgage rates and more listings to choose from. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. RE/MAX isn’t calling this an “exodus,” but the re-location trend across the Canadian housing market is real, and it’s just one focus of the RE/MAX 2021 Housing Market Outlook Report. Apartment-style condos are currently in oversupply, which means prices are likely to drop. Holding line on property taxes is good news for Edmonton real estate Joel Schlesinger, for the Edmonton Journal. This trend is stronger among Canadians under the age of 55 than those in the 55+ age group. Jennifer Lucas, chairwoman of the Realtors Association of Edmonton, said she’s still cautiously optimistic the market is rebounding. A 1% increase in average residential sales price is expected in Edmonton, Alberta for the remainder of the year. balcony, pool etc. Real estate markets are local and in some Metro Edmonton submarkets, house prices have held steady while in other submarkets, values have dropped. Then in March when COVID-19 happened, (I) certainly didn’t predict this. Move-up buyers are currently driving demand in the Edmonton real estate market, which is expected to continue into 2021. Many good homes are sold before they are ever advertised. (Previous week’s numbers are in brackets). By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Ritchie and Bonnie Doon will also continue to see high demand as the LRT network opens, giving more transit and lifestyle options to those in Bonnie Doon. Edmonton, November 2, 2020: Total residential unit sales in the Edmonton Census Metropolitan Area (CMA) real estate market for October 2020 increased 26.34% compared to October 2019 and decreased 0.21% from September 2020. What do leading indicators suggest about Edmonton’s housing market? Additional highlights from the 2020 RE/MAX Fall Market Outlook Report Survey, RE/MAX 2020 Housing Market Outlook Report. July to August told a different story with decreases across the board: residential sales (13.16 per cent), single-family homes (12.39 per cent) and condos (17.41 per cent). Condo sales did see a slight decline of 0.97 per cent. She said seeing interest rates dropping to historic lows below two per cent also encouraged home buyers. Edmonton Housing Market Outlook (Fall 2020), Edmonton Housing Market Outlook (Fall 2019). “While COVID-19 lockdowns slowed Canada’s housing market at the start of a typically busy spring market, activity bounced back by early summer in many regions, including Vancouver and Toronto,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. Edmonton Is Now the Country’s Most Affordable Urban Real Estate Market! Get instant access to a lot of relevant information about Edmonton, AB real estate, including property descriptions, virtual tours, maps and photos. Overall residential sales increased by 20.11 per cent from August 2019, while single-family homes jumped up 22.98 per cent, according to the latest Realtors Association of Edmonton report. Some of the most popular property types in Edmonton include two-story detached homes, luxury properties, infill and “skinny homes”. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. I think this is a pleasant surprise for many buyers and sellers.”. I look forward to serving you. For the past 7 days: New Listings: 322 (313, 320, 377) October was another decent month for the Edmonton real estate market. Edmonton, December 2, 2020: Total residential unit sales in the Edmonton Census Metropolitan Area (CMA) real estate market for November 2020 increased 27.18% compared to November 2019 and decreased 16.23% from October 2020. “I think the numbers are showing a good-news story here. October was another decent month for the Edmonton real estate market. Edmonton housing market in 2020 a ‘pleasant surprise’ for buyers and sellers, says monthly report. Sales rebounded, surpassing the numbers reported for the past 4 years in Edmonton and pushing us into a seller’s market (just barely with 3.8 months supply) for the first time since 2015. Sales are up and listings are down in the Edmonton real estate market to start off the new decade. In … The Edmonton housing market will lean toward buyers in 2020 with the average residential sale price expected to drop by one per cent. First-time homebuyers in Edmonton are typically single homebuyers. Housing Market Report for November 2020. In August the average residential price rose 1.86 per cent from last year, to $374,409, which is 1.24 per cent more than when compared to July. In fact, the age demographic for acreage living is getting younger. Mathew has been mentored by some of the top leaders in the Edmonton real estate community, from the Landmark Group of Builders, CIBC, and Jaya Homes. Contact Me today and begin your Edmonton real estate experience. Edmonton’s housing market quickly bounced back to pre-COVID levels in June, while Saskatoon experienced its busiest June in years; this momentum is anticipated to continue into the fall market, with  RE/MAX brokers and agents estimating a three-per-cent increase in average residential sale prices for the remainder of the year. Edmonton’s top-selling neighbourhoods in 2020 were Anthony Henday Zone (West), North Central Zone and Southwest Zone. The number of new residential listings is up year over year, increasing 3.05% from November 2019. Not only are Canadians more motivated to leave cities, but changes in work and life dynamics have also shifted their needs and wants for their homes. The gap between supply and demand continues to widen in Edmonton real estate, according to the Canadian Mortgage and Housing Corporation (CMHC), further reinforcing a buyer’s market. Ranked as the third most affordable real estate market out of 16 Canadian cities compared in the 2020 RE/MAX Housing Affordability Report, Edmonton’s average sales prices are low, and have been steadily declining since 2018. Edmonton Is Now the Country’s Most Affordable Urban Real Estate Market! In today's competitive real estate market, timing is everything. Most buyers are looking for a new or “like new” home across all price ranges. Real estate roundup: Edmonton, AB housing market overview Point2 gives you far more than a simple list of houses for sale. Lucas said there’s enough confidence in the market now where people are prepared to buy, which wasn’t the case following the recession last year. Contact Me today and begin your Edmonton real estate experience. Transactions are also back to pre-COVID-19 levels and the region continues to see multiple offer situations, with sellers’ market-like activity in various neighbourhoods and property types. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Canadians are on the move. I look forward to serving you. Welcome to Re/Max Select, your source for Edmonton real estate. The condominium market in Edmonton is most popular with single homebuyers and young couples. Total residential unit sales in the Edmonton Census Metropolitan Area (CMA) real estate market for July 2020 increased 13.58% compared to July 2019 and increased 5.61% from June 2020. And Southwest Zone all readers to share their views on our articles Now looking at Edmonton for growth in coming. Family has been heavily involved in the coming years to last year but appeared to struggle month-to-month when compared last! For growth in the Edmonton real estate market s numbers are in brackets ) RE/MAX for. 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