HOW FAST ARE HOMES IN EDMONTON SELLING? The Edmonton Residential Real Estate Market seems to be acting as expected for this time of year when looking at how fast homes are selling. Below you will find the charts and data related to the average days on the market for the homes that sold in June 2022, the Real Estate Insider by me (Jenn McPhillamey, REALTOR® with RE/MAX River City).  So far the changes we are seeing across the board for average days on market are seasonal. Every spring days on the market drop as things typically sell the fastest in the spring, and by summer they rise a bit ..read more

WHAT ARE THE HOT NEIGHBOURHOODS IN EDMONTON? I have defined the hot neighborhoods in Edmonton as the ones with the highest numbers of sales within a specified time period. In addition to the top 5 HOT Neighbourhoods in Edmonton, I have also provided the number of sales per district and by home type. You will see how many homes are sold monthly as well as a comparison to last year. Given the fairly hot market, we have had, it may be surprising to see spring sale numbers for detached homes being down. There is a mixed bag of reasons for the decrease in sales and it's not just interest rates. We ..read more

DO HOMES SELL FOR LIST PRICE IN EDMONTON? Whether you are moving to Edmonton or already living here most people are wondering if the homes in Edmonton are selling for their list price. If they are not, are they selling for more than the list price or less than the list price? To answer this question we will look at the sold-to-list ratio. This ratio is calculated by dividing the sold price by the list price and then multiplying it by 100 to provide you with the sold-to-list ratio as a percentage. - Anything below 100% was sold for less than the list price. - Anything at 100% was sold for the ..read more

HOW MUCH ARE HOMES IN EDMONTON SELLING FOR? The headlines about what's happening in real estate in Canada are very broad and don't necessarily apply to Edmonton Real Estate Market. Stay on top of what's happening in our local market by following my Real Estate Insider produced by me (Jenn McPhillamey, REALTOR® with RE/MAX River City.  In this report, I am providing you with information on median sold prices across Edmonton and for different home types. You may be wondering why I don't just report the overall median for single-family homes and for condos. The answer is simple, how will mo ..read more

HOW FAST ARE HOMES IN EDMONTON SELLING? The Edmonton Real Estate Market is always changing. Stay on top of what's happening in the Edmonton Residential Real Estate Market by following the Real Estate Insider by me (Jenn McPhillamey, REALTOR® with RE/MAX River City.  When we look at how fast homes have sold, it is typical for homes to take longer to sell in the winter than in the rest of the year. In the spring, homes will sell the fastest. If homes are selling in less than 10 days on market, they likely have had multiple offers and fewer buyer conditions or no buyer conditions. The typic ..read more

Those of you who know me, know that I love data. I combed through the 2021 real estate data to bring you a list of the Top 10 Neighbourhoods in Edmonton for 2021 based on resale residential home sales. I have also pulled out the average price for single-family homes in these neighborhoods to give you an idea of what it would take to live in each of them. I must say that this information does not include new home sales that were not on the MLS. Top 10 Neighbourhoods in Edmonton for 2021 No 10 - Edgemont This is a west Edmonton community on the outside of the Anthony Henday (Edmonton's ring roa ..read more

Moving to a new city is never an easy decision. If you are like most people moving here, you are looking for an opportunity to live somewhere affordable so you can enjoy life more. But what if Edmonton is not the right place for you? The top 5 reasons why Edmonton Why You Should Not Move to Edmonton 1. You don't like cold and long winters. Winter in Edmonton is between late October and late March. The temperature -10 degrees celsius to -14 degrees celsius averages between November to February. We do get cold snaps during these months where you will see the temperature dip below -30 degrees ce ..read more

Thinking of moving to Edmonton but aren't sure if it's the right move for you? I have compiled a list of 9 things you need to know before moving to Edmonton. I am confident this information will help you with your decision.  The Top 9 Things you Need to Know Before Moving to Edmonton 1. Edmonton is a small City. By this, I mean small in comparison to other major cities in Canada like Vancouver and Toronto. Even Calgary feels bigger than Edmonton though it really isn't that much larger. Edmonton has a small-town feel with all the amenities of a big city. 2. Health care is public but doesn ..read more

Are you considering homeownership but have no idea where to start? You need to ask yourself some key questions to determine if it's even an option for you. I will provide you with those key questions and the step-by-step process to buy a house in Edmonton. Part 1: Determine if you are financially ready to buy a house.  Some people may advise you to first decided if you want the responsibility of homeownership. In my opinion, I think that is a secondary question. First, you need to determine if you are financially ready to buy a home. This is an essential first step because it can so ..read more

There has been some discussion recently on home prices in relation to mortgage rates. Some believe if there is a rapid rise of mortgage rates, home prices should decrease. Logically it makes the most sense for the price of the house to drop when interest rates are rising, but this is not always the case. This theory of home prices decreasing is typically discussed by future home buyers. As a buyer you would like to think if you are paying higher rates on your mortgage, you should be able to see a decrease in cost somewhere else. Unfortunately, these rates are rising because the economy is in ..read more