Spring Trends in YEG
Saturday, April 25th, 2015First-time buyers drive the Edmonton housing market. REMAX has more just CLICK HERE for the Re/Max Spring Trends Market Report!
Archive for April, 2015
Surplus Inventory Affecting Market Sales
Monday, April 20th, 2015The EREB has just reported some interesting, and potentially unpredicted, statistics based on cumulative March numbers. Sweeping trends for spring appear to be slight drops in total overall residential sales. Yet despite this downturn, the strength of the market has remained unaffected with average sale prices continuing to rise.
Sale prices across the board increased about 3%, with duplexes seeing the highest year over year increase of 6.9%. Single family dwellings rose 1.5% since March of last year, and the smallest growth of all the residential categories were condominiums which saw a 1.2% increase. March’s average single family home sold for $438,880, while duplexes and row housing went for around $354, 022, and condomiumns rounding out at the lower $249, 841.
As mentioned, despite small pricing increases, surplus inventory which has been seen flooding the market since early spring, caused a decrease in overall sales. The same time last year saw 1,554 homes sold, while a decrease of 6.5% overall led to only 1,453 closed transactions. 876 single family dwellings were sold in March of 2015, a 4.5% year over year decrease, while 416 condominiums were sold in contrast to the previous years 474. Duplexes and row houses, though showing the highest price increases, were the only property category to also show an increase in inventory sales, which went up a full 6%.
REALTORS® Association of Edmonton President Geneva Tetreault explains that these spring sales figures are actually a positive byproduct of our fairly stable market over the past few years:
“The fact that our prices did not have the dramatic increases seen over the past few years in other cities like Calgary, Toronto and Vancouver means we have not experienced the same overvaluation. That is why our prices are not taking the same hit even though our inventory is way up and sales are slightly down. A more accurate valuation should keep our average prices more stable.”
CTV Edmonton interviewed Tetreault on the topic of the EREB’s figures in this recent report.
Geneva Tetreault discusses the highs and lows of the spring market with CTV news.
The March market report also touched briefly on rural market statistics for the surrounding Edmonton area. There were 143 residential sales this March compared to last year’s 156, a decrease of 8%. Mirroring the trends showing up in the city, residential listings have seen an increase of nearly 12%.
Tetrault explains that atmosphere of this new market is still strongly oriented towards buyers:
“The big story continues to be the increase in inventory. We ended 2014 with a fairly low inventory. The influx of new listings means that buyers now have the opportunity to be a little more choosey. Having a REALTOR® help you navigate the market is always a wise decision, particularly in a complex market like ours.”
With 5, 944 properties on the market, 3,152 of those new MLS listings in March alone, it’s easy to see how buyers are experiencing a very different climate than that of 2014.
CLICK HERE to discuss the market potential of your home with a realtor, or to search for one of the many available properties in the Edmonton area.
Easter Crafts and Family Fun
Sunday, April 5th, 2015Easter weekend is a perfect excuse to spend some much needed time with your loved ones. Sometimes though, it can be hard to fill those long weekend hours, or find an activity that the whole family can enjoy.
We’ve compiled the best of Easter arts, crafts, and cooking for you to try with your friends and family while enjoying time together. These ideas are simple, inexpensive, and many supplies you probably already have around the house. Just click on the headings or photos and you will be linked with a simple tutorial!
This is a new, earthy spin on Easter egg colouring, without the mess of dyes. You’re left with beautiful bohemian floral patters, and with eggs ready for eating! This is great fun for kids, just make sure an adult is on hand to carry-out the boiling process. With simple objects like string, onion shells, and small flowers, there’s also a good chance you already have all the supplies you need.
This is a unique way to the give the kiddos their Easter candies. You just need a bag of their favourites and an appropriately sized mason jar. It’s a classy gift for adults as well! Download the free printable Bunny Bait tag HERE, or design your very own!
This simple craft is perfect for those in fear of the permanence of Easter egg dying. It’s also versatile, you can use real eggs, or repurpose plastic and styrofoam eggs already laying around the house for decorations. A coat of chalkboard paint and some drying time is all it takes. Then you’re left with an endlessly erasable palette for all your artistic whims.
These are great to make with kids, or adults who may be less than skilled in the culinary arts. They require NO baking, have 3 simple ingredients, and can be made in minutes then left to set in the fridge. A delicious and beautiful dessert.
These precious pastel eggs may be candy coloured, but are definitely not for eating. These are very simple to make and again you can use real or synthetic eggs of your preference. You can personalize them however you like by choosing any colour and style of sprinkles that suit you.
These are a fairly customizable craft depending on the material you choose. Card stock and paper would simplify the process, or for more elaborate rings that you may want to reuse you can choose a felt fabric you like. You can also detail with buttons, cotton, or other craft supplies you may have on hand to make them unique and individual table decor!
This genius gift idea allows you to make someone cookies without having to make cookies! This adorable jar of ingredients, topped with festive coloured M&M’s could be substituted for any holiday, and allows your loved ones to share your gift with their friends and family. Or bring them along to an Easter gathering and make the cookies together. Here is a LINK to the recipe tags you can print out and attach to the jars.
Everyone in the Re/Max Real Estate Edmonton Family would like to wish you and your family a wonderful holiday weekend. Come Visit Us anytime, for your real estate related needs.
