Ryan Broos

Cell: 780-239-5948 |

Welcome to my Blog!

This is the place where I rant about whatever I like, though I try to keep it mostly Real Estate related. Whether you are looking to by a home in the Edmonton area or anywhere else, I am sure you can find some helpful advice here. Use the sidebar to navigate through my blog to access either my Real Estate section, Market Updates, Home Buying/Selling Tips, Recent Sales, or my Random section where I talk about anything and everything. Feel free to leave comments, I'd love to hear from you!

 

Ryan Broos, Remax Real Estate.

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 To see my November 2015 Condo update Click Here

To see my November 2015 Condo update Click Here

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 To see my November 2015 Single Family Home update Click Here

 To see my November 2015 Single Family Home update Click Here

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 To see my October 2015 Single Family Home update Click Here

 To see my October 2015 Single Family Home update Click Here

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 To see my October 2015 Condo update Click Here

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In the Edmonton area, our busiest months of the year are March, April, May and June. This June, we saw a little bit of a slowdown compared to May, but that is normal as May is almost always the most active month of the year. For the rest of 2014, sales numbers will likely continue to dwindle a little, but there are no indications that we will experience any major price reductions. The Edmonton Area market is very strong and, as you can see in the graph below, we have had significant price gains over the last year in all residential areas. The numbers on the chart are the year-to-date averages for the first 6 months of 2013 and 2014.

June 2014 (Edmonton Area)                                                                   Monthly/Yearly Change  


Single Family Average Selling Price                      $435,534                      -0.7%/+5.8%

Condominium Average Selling Price                     $254,182                      +0.6%/-1.6%

Duplex/Rowhouse Average Selling Price               $343,198

Average Days on Market                                                41                                   

Residential Inventory at Month End                         5704                          +1.2%/-6.2%

Total MLS Reported Residential Sales                       2621                          -2.1%/+2.5%        

Stats obtained from www.ereb.com

Note: Numbers likely to change slightly as sales stats for homes sold in the last few days of the month are not all yet recorded.

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May was another strong month for the Edmonton area. Judging by the MLS stats, the Edmonton market is in great shape and fairly balanced between buyers and sellers. Inventory levels are starting to rise however they still have a ways to go before we will run into it having any major effect on prices. As you can see on the graph below, our average selling prices for single family homes has been up every month this year compared to last.

Here is a look at the numbers:

April 2014 (Edmonton Area)                                                                   Monthly/Yearly Change  


Single Family Average Selling Price                      $438,279                      +2.2%/+5.1%

Condominium Average Selling Price                     $251,688                      -0.1%/+6.7%

Duplex/Rowhouse Average Selling Price               $351322

Average Days on Market                                                41                                   

Residential Inventory at Month End                         5634                          +14.7%/-6.5%

Total MLS Reported Residential Sales                      2137                           

 

Stats obtained from www.ereb.com

Note: Numbers likely to change slightly as sales stats for homes sold in the last few days of the month are not all yet recorded.

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Allthough April didn't end up being as strong a month as some predicted the Edmonton Area did say many positive signs esspecially when you compare the year over year numbers. Prices as well as the number of sales (demand) are all up. Average Days on Market has once again decreased and is now sitting at 42 days. 

Here is a look at the numbers:

April 2014 (Edmonton Area)                                                                   Monthly/Yearly Change  


Single Family Average Selling Price                      $427,685                      -1.5%/+5.9%

Condominium Average Selling Price                     $251,300                      +1.1%/+2.8%

Duplex/Rowhouse Average Selling Price               $332,443

Average Days on Market                                                42                                   

Residential Inventory at Month End                         4910                          +11.3%/-7.3%

Total MLS Reported Residential Sales                      1983                           

 

Stats obtained from www.ereb.com

Note: Numbers likely to change slightly as sales stats for homes sold in the last few days of the month are not all yet recorded.

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As predicted March showed strong signs that 2014 will be a busy year for the Edmonton Area Real Estate market. When you look at the stats of March 2013 compared to March 2014 we are seeing strong numbers in almost every area. Prices as well as the numbers of sales (demand) are all up. Average Days on Market and the total amount of listing (supply) are down. With an increase in demand and a decrease in supply it is safe to say we will be seeing some price increases in the near future.  

Here is a look at the numbers:

March 2014 (Edmonton Area)                                                                   Monthly/Yearly Change  


Single Family Average Selling Price                      $432,458                      -0.2%/+3.0%

Condominium Average Selling Price                     $247,005                      +3.6%

Duplex/Rowhouse Average Selling Price               $331,038

Average Days on Market                                                44                             -18.5%/-13.7%          

Residential Inventory at Month End                         4413                          +13%/-6.9%

Total MLS Reported Residential Sales                      1554                           +27%/+3.6%

There are plenty of positive signs in these numbers and from what I have been experiencing with my own clients we are in for a busy year. Will we be seeing the same kind of increases as we did in the mid 2000’s? I think it is still a little early to say but we certainly should know in the next month or so.

 

Stats obtained from www.ereb.com

Note: Numbers likely to change slightly as sales stats for homes sold in the last few days of the month are not all yet recorded.


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Like January, February showed strong signs that 2014 should be a busy year for the Edmonton Area Real Estate market. In all residential areas we have seen a increase in average selling prices compared to January, average days on market has decreased, and the total number of listing and sales on the MLS service have increased significantly.

Here is a look at the numbers;

February 2014 (Edmonton Area)                                                            Monthly/Yearly Change  


Single Family Average Selling Price                      $425,782                     +2.7%/+6.3%

Condominium Average Selling Price                     $238,854                     +1.6%/+3.2%

Duplex/Rowhouse Average Selling Price              $335,625

Residential Listings this Month                                  1955                          +7.3%/+0.3%

Average Days on Market                                               54                                         /-5.2%

Residential Inventory at Month End                         3906                          +10.4%/-6.6%

Total MLS Reported Residential Sales                       1122                          +24.4%/+5.6%

Sherwood Park


Single Family Average Selling Price                      $444,282

Condomininium Average Selling Price                 $333,104


With all the positive signs in this mouths stats, low interest rates, and new job creation in Alberta one can assume it is almost a sure thing to be a very busy year with likely some fairly significant price increases.

 Stats obtained from www.ereb.com

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