RE/MAX Edmonton Real Estate News

While Edmonton’s new downtown arena development has garnered much attention, the accompanying boom of real estate development in the city’s core is the latest topic of conversation.

The previous abundance of surface parking lots allowed for the land space needed by developers to add more condominium towers to the downtown area, with around 27 proposed towers expected to go up in the next 3 years. At the forefront of these residential developments is the Fox Two, a project by Langham developments (of Icon Towers notoriety). 171 units will comprise this 33 storey colossus on the corner of 102 Avenue and 104 Street; a site you may remember as the old greyhound bus garage. This project began after the Fox One sold out most of it’s 142 units. Upon completion, both Fox towers are expected to place in the top 20 list of Edmonton’s tallest buildings, alongside the Icon I and II.

Mockup of the Fox Two tower.

The following chart outlines some of the major condo development projects in central Edmonton:

Understandably, residents and employees who work in the core have expressed concern over an increase in traffic congestion due to construction and closed thoroughfares, as well as decreased parking availability. According to Edmonton Journal Reports the city is on top of these issues, with a comprehensive website in development to keep citizens aware of route changes and parking availability, maintaining Downtown’s travel efficiency.

Has the Edmonton housing market made a full economic recovery?

Insider sources seem to think so.

Reports from the Edmonton Journal, the Edmonton Real Estate Board, and the Bank of Montreal, have determined this spring could mean some of the highest sales rates we’ve seen in recent history.

Alberta is emerging as the country’s leader in real estate sales, with the major markets of Edmonton and Calgary topping the charts. According to BMO Reports, Alberta is leading the provinces in retail sales, employment rate, and real GDP. These strong economic indicators, combined with a soaring population have created an ideal climate in which the housing market can not only survive, but thrive.

With 2014 numbers already on the rise, it’s difficult to dispute these speculations. According to the Edmonton Real Estate Board listings sales have increased more than 24% since this January with a slight increase in residential property prices, while residential listings increased by more than 10% in the same period.

However, a moderate increase in home prices is not expected to deter buyers explains EREB president Greg Steele,

“confidence in the strength of our local economy and a shortage of attractive properties at the lower end of the price range are both moving consumers to consider higher priced properties if their budgets allow”

Steele concludes “sales activity will continue to increase as they do every spring.” This should leave Edmontonians, especially those looking to sell their home, with an optimistic outlook for the coming months.

The numbers are in for 2013

…and true to form, Re/Max Real Estate has exceeded fundraising expectations.  Canadian and U.S. offices raised over $8 million dollars last year for the CMN through various campaigns.

Re/Max’s lasting partnership with the Children’s Miracle Network includes many campaigns in place to secure necessary funding for this important organization, including the Miracle Home Program.

Every minute 62 children are treated by a CMN network hospital

What does this program involve, you ask? You may have experienced driving past the familiar red, white, and blue of a Re/Max “FOR SALE” sign and noticed the often-accompanying CMN hanger. What you may not have realized is that this sign represents a commitment by that individual agent to donate a set percentage of each and every sales commission directly to the CMN.  Commitment to the Miracle Home Program is in addition to the hours of fundraising events attended throughout the year, by brokers, agents, and staff members alike.

This is a show of agents going above and beyond, and making a difference in their own communities.  Next time you see a Re/Max sign be sure to look for a CMN hanger, you may start noticing them a lot more often, and start to see the signs of Re/max agents making meaningful differences all over your neighborhood.

Through the strength of this partnership, Re/Max has been able to provide over $130 million to 170 children’s hospitals since it’s humble beginnings in 1983. When known achievers set their sights, they truly make miracles happen.

The largest CMN contributor is Re/Max of Western Canada

Welcome to RE/MAX Edmonton’s new real estate blog! Stay tuned for more great real estate news and updates, coming soon.