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Where is the 2024 Real Estate Market Headed in Edmonton?

April 10, 2024

Hey everyone buckle your seatbelts, we are about to go on a 2 year ride of a lifetime !!! Well I guess it isn't a lifetime if you are old enough to remember 2006-2007 when it felt very similar as prices skyrocketed. We don't anticipate that kind of Real Estate boom but it will be very significant. I just love what Shaun Cathcart from the Canadian Real Estate Association just said in the Toronto star "Interest rates are starting to cool the real estate market but Alberta didn't get the memo". In having a detailed look into what most economists are saying it will be a 4-5% gain in prices, and of course they are never wrong !!! What will likely happen is the average price will be just that but the median price ( detached homes priced between $250000-$450000) will be much higher.


If you are and or were thinking of making a move and you have a home to sell, do it sooner than later as the inventory is low. Currently there are bidding wars going on for good homes so you will get a good price and as we move closer to spring more inventory will come on. By doing this you will likely be able to catch the current pricing before it goes up to much. It sounds like an oxymoron but it's just tactical planning. If you are lucky enough to be in a position to invest in revenue properties you will benefit with the awesome rental market with the unique Alberta laws. If you are new to this, have no fear as we can walk you through the low stress process that many successful investors follow. 

Remember this outstanding quote "If you fail to plan you plan to fail" 

See The Full Forecast Video HERE

Shaun Cathcart, Director & Senior Economist, Housing Data and Market Analysis at the Canadian Real Estate Association (CREA).


Lastly, Mr. Cathcart predicts that what we've seen in other parts of the country over the past few years - high demand leading to skyrocketing prices - will soon happen in Edmonton. This trend occurred in markets like Vancouver and Toronto, and when those cities became unaffordable, neighbouring areas were affected. Calgary experienced a surge in demand last year, and Mr. Cathcart predicts that Edmonton is next on the list. However, he cautioned that the "relative affordability advantage" could quickly disappear if we fail to add more inventory to our market.

In conclusion, the real estate market outlook for 2024 in the Edmonton area predicts near-record sales and rising prices. Still, we must remain diligent in providing more affordable housing options and ensuring that our inventory meets demand levels adequately. As always, we will keep you updated as new developments and forecasts continue to emerge. 





FOR DECADES EDMONTON HAS FOLLOWED CALGARY'S FOOTSTEPS FOR PRICING. SEE THE BELOW CHART, GUESS WHAT HAPPENS NEXT!


Edmonton, January 3, 2024: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for December 2023 came to 1,229, decreasing from November 2023 by 24.4%, but showing an increase of 25.2% over December 2022. New residential listings amounted to 1,497, which is 28.3% lower than November 2023, and 27% higher than December 2022. Overall inventory in the GEA showed decreases of 6.7% from December of last year and 15.2% from November 2023.

For December, detached unit sales totalled 701, a decrease of 24.4% from November 2023, but up 22.6% from the previous year. Semi-detached unit sales were down 16.7% month-over-month but showed an increase of 42.9% from December 2022. Row/Townhouse unit sales were down 19.2% from November 2023 and up 44.0% year-over-year. Apartment Condominium unit sales saw numbers decrease as well, down 33.7% from last month and up only 9.6% compared to December 2022.

Total residential average prices came in at $388,637, a 2.0% increase from November 2023, and a 3.5% increase from December 2022. Detached homes averaged $489,392, amounting to a 3.8% year-over-year increase, a 2.2% increase from November 2023. Semi-detached sold for an average of $364,115, resulting in a 1.6% increase year-over-year, and a 0.5% increase from the previous month. Row/townhouse prices were down 4.0% from November 2023 and increased 9.9% when compared to December 2022, selling at an average of $260,959. Apartment Condominium average prices hit $170,408 showing decreases of 0.4% from last month and 5.2% from last year.

Real Estate Investing Tips in Edmonton

February 25, 2025
Real Estate Investing for Beginners: Your Guide to Getting Started in Edmonton Introduction Investing in real estate can be an excellent way to build wealth and secure your financial future. Edmonton, with its stable market and growth potential, offers a fantastic opportunity for beginner investors. In this guide, we'll walk you through the basics of financing your first property, highlight some of the best neighborhoods to invest in, and share tips on how to maximize your success as a landlord. Getting Financing 1. Self-Financing Self-financing involves using your own savings or liquid assets to purchase a property. This method eliminates the need for loans and avoids interest payments, but it requires having substantial funds available. Benefits: - Full ownership with no debt - No interest payments or loan approval process - Complete control over the investment Drawbacks: - Requires significant savings - Limits diversification since all funds are tied up in one investment Tips: - Carefully assess your financial situation to ensure you can afford to self-finance without compromising your emergency fund. - Consider partnering with friends or family to pool resources and share the investment cost. 2. Using a Bank Banks offer various loan options for real estate investors, such as conventional mortgages and home equity loans. These loans allow you to leverage your investment, spreading the cost over time with manageable monthly payments. Types of Bank Loans: - Conventional Mortgage: A standard home loan with a fixed or variable interest rate. - Home Equity Loan: Borrowing against the equity in your existing home to finance a new property. *Qualifying for a Bank Loan: - Maintain a good credit score - Save for a substantial down payment (typically 20%) - Ensure stable income and employment history Tips: - Shop around for the best interest rates and loan terms. - Work with a mortgage broker to navigate the loan approval process. 3. Seller Financing In seller financing, the property seller acts as the lender, allowing you to make payments directly to them instead of a bank. This can be an attractive option if you have difficulty qualifying for a traditional loan. How Seller Financing Works: - Negotiate terms directly with the seller - Typically involves a promissory note and mortgage or deed of trust - Payments are made over an agreed-upon period Benefits: - Easier approval process - Flexible terms and interest rates - Potentially lower down payment *Risks:* - Higher interest rates than conventional loans - Shorter loan terms, resulting in higher monthly payments Edmonton Neighborhoods to Invest In Edmonton's real estate market offers diverse options for beginner investors. Here are a few neighborhoods worth considering: - Oliver: Close to downtown, this vibrant neighborhood offers a mix of condos and apartment buildings, making it ideal for rental properties. - Glenora: Known for its beautiful historic homes and strong community feel, Glenora is a sought-after area that attracts families and professionals. - Westmount: This trendy neighborhood features a mix of older homes and new developments, appealing to young professionals and families alike. Getting the Most Out of Being a Landlord Becoming a successful landlord requires more than just purchasing a property. Here are some tips to help you thrive: - Finding and Keeping Good Tenants: - Screen tenants thoroughly, checking references and credit history. - Create a clear, fair lease agreement. - Maintain open communication and respond promptly to tenant concerns. - Understanding Landlord Responsibilities: - Stay informed about local rental laws and regulations. - Ensure your property is safe and well-maintained. - Handle repairs and maintenance promptly to keep tenants happy. - Effective Property Management: - Consider hiring a property management company if you have multiple properties or limited time. - Use property management software to streamline tasks like rent collection and maintenance requests. - Regularly inspect your property to identify and address issues before they become major problems. Conclusion Real estate investing in Edmonton offers promising opportunities for beginners. By understanding the different financing options, choosing the right neighborhoods, and mastering the art of being a landlord, you can set yourself up for success. Remember, every great journey starts with a single step, so take the plunge and start your real estate investment journey today! For further learning, consider joining local real estate investment groups, attending seminars, and reading books on the subject. We specialize in helping investors get 5 homes in 5 years! If you are interested in learning how to do this, reach out to us today!

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How to pack your stuff

By Cody Pringle • March 28, 2022
Packing Your Stuff for Moving: A Comprehensive Guide Moving can be a daunting task, especially when you’re selling your home and transitioning to a new one. But with the right approach and organization, it can be a smooth and stress-free process. Here are some tips to help you pack your belongings efficiently: 1. Start Early Begin packing several weeks before your move date. Starting early gives you ample time to sort, pack, and organize your belongings without feeling rushed. 2. Declutter Before you start packing, declutter your home. Sell, donate, or recycle items you no longer need. This reduces the volume of items you have to move and can make unpacking easier in your new home. 3. Gather Supplies You’ll need sturdy boxes, packing tape, bubble wrap, packing paper, and markers for labeling. Consider using specialized boxes for items like dishes or clothing. 4. Pack Room by Room Packing one room at a time can make the process more manageable. It also makes it easier to unpack and organize your new home. 5. Label Boxes Clearly label each box with its contents and the room it belongs to. This will help movers know where to place boxes in your new home and make unpacking easier. 6. Pack an Essentials Box Pack a box with essentials you’ll need immediately after moving, such as toiletries, a change of clothes, and important documents. Keep this box with you during the move. 7. Protect Valuables Use bubble wrap, packing paper, or clothes to protect fragile items. Consider carrying valuable items with you instead of putting them in the moving truck. 8. Hire Professionals If the task seems too overwhelming, consider hiring professional movers. They have the expertise and equipment to pack and move your belongings safely and efficiently. Recommended Moving Companies in Edmonton Here are some moving companies in the Edmonton area that you might consider: Flex Movers : An Edmonton-based moving company serving Edmonton and surrounding areas. They offer competitive rates and timely services. Eager Beaver Moving : Provides professional residential and commercial moving services, packing, and indoor & portable storage. Two Small Men with Big Hearts Moving : A full-service moving company with offices all across Canada. They offer local and long-distance moving and storage, packing services, furniture assembly and disassembly, and special item transport. Action Moving : Offers a range of services including residential moves, office relocation, commercial moves, packing, storage, and more. Remember, it’s important to research and choose a moving company that best fits your needs and budget. Happy moving!
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