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Market Updates

November Market Update

We held off the snow as long as we could

Well, winter is here. We held it off as long as we could (good job everyone)!

The positive is that we can get out and enjoy cross country skiing, hockey at the ODR, beautiful walks in the river valley and the mountains. Even though it’s cold there’s lots to love still…I even got to watch Canada beat Mexico in a hockey…I mean outdoor soccer match with a couple of my closest friends!

It’s a good life ūüôā

My monthly SHOUT OUTS / THANKFUL THOUGHTS

  • Pedja, Marina, and Djole…what a special honour it was helping you buy your first home in Canada! Congratulations!!
  • Ryley and Sarah…you created such a beautiful home, and now we get to see what you do with your next project in St. Albert
  • Sam and AJ, enjoy the Sherwood Park life with Poofa!
  • Victoria, congratulations of selling your property in Leduc!
  • AND of course, all of you who keep telling your friends and family and randos on Facebook about me…it means the world to us!
Check out my Listings

How’s the market?

Steady through the snow

Our market has been hot for a while and with the cooler months typically means “cooler” markets (see what I did there). Although what we are seeing now is still a strong market for sellers (our months of inventory sits at 3.65, meaning a “Seller’s Market”). Our sales have stayed steady, but our inventory is dropping.

It will be interesting to watch how the rest of the year plays out, but I would anticipate we will see things continue to trend in a steady line (nothing crazy up or nothing crazy down).

PS – one day soon I’m going to show you all the difference between our Edmonton market versus other metropolitan cities in Canada. Our prices are low, our job prospects are strong, and could that potentially mean some strength coming to our market over the next five years? We’ll see!

Now, for the stats…

Last month’s prices for Edmonton and Area:
–¬†Single Family¬†(SF) prices are¬†UP 1.6%¬†year over year, and¬†down¬†slightly -0.6% month over month to¬†$450,000
–¬†Condo¬†prices are¬†down -2.7% year over year, and¬†up¬†0.6%¬†month over month to¬†$225,000¬†

Inventory levels: SELLER’S MARKET¬†
Total Inventory sits at 6,821 properties for sale, down 5.8% from last year, and down 7.5% from last month  remember that shrinking inventory story I mentioned earlier?
Total Sales for last month were 1,866, up 11.7% from last year, and down nominally 0.6% month over month
Days on Market for single family homes still sits at 40, up from 38 last month and down from 47 last year

Months of Inventory are now at 3.65 months of inventory (down from 3.9 last month)

We are STILL sitting in a¬†Seller’s¬†Market
(anything under 4 months is a seller’s market)
Your Market Update

Thanks and Happy November!

Your friend,
Kevin Machado
780-935-5762