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Market Updates

April Update – The good old spring market!

By May 3, 2021August 25th, 2021No Comments

It’s Spring, and Winter…and Spring again!

Hey all!

Despite the crazy weather, this has proved to be one of the busiest months in Real Estate I have had in my career, and one that many have not seen in quite a LONG TIME!

These wonderful people put up with me…

My monthly SHOUT OUTS go to:

  • Scott and Shae – new home bought ✅, your home sold ✅
  • Michael and Sofia – it was one that tested us all, but you did it! You sold your home!
  • Dominic and Mark – you get to move in this week, how exciting!!
  • Tyson and Evie – I STILL can’t believe the price we got for your new place! 🤯
  • Gordon and Daniel – your townhome sold and now you and your children get to move into that wonderful (and HUGE) home!
  • Ali – we got it done, your St. Albert townhome is sold!
  • Leonard and Mary – seriously, what a special honour it has been to serve you as you bought and sold 🙏
  • Zack – we were able to get you a great home to start your story!
  • Paul and Jennie – did we just sell your house last night?! YES we did!! 🎉

THANK YOU, THANK YOU, THANK YOU for your trust and support! It’s such an honour to be YOUR Realtor!

We have some cool homes for sale!

“Hey Kevin, how’s the market?”

…BUSY!

Sales continue to rise

Sales continue to soar in Edmonton, St. Albert, and surrounding areas.

Last month I started something new, and I’ll give you another story
#StoryTimeWIthKevin

I was out with good friends and clients looking at a home that was priced in the high $700,000s. In one day they had 27 showings (!!) and multiple offers! The home was quite nice (not amazing though), near the river, and the lot beautiful. We didn’t get this house but I tell the story for a couple reasons.

1. With the low rates these homes that were reserved for a select few with higher incomes have now become more affordable. We are seeing more higher priced homes sell in this market.

2. It PAYS to be priced right. Over pricing your home can lead to extended days on the market and net you less money than if you were to price it to the market and generate interest.

Bonus: 3. I have some cool friends 😎

Whether you’re buying or selling, being prepared is key. You can read more on my site about the things to do for buyers and sellers 🙂

Last month’s prices for Edmonton and Area:
– Single Family (SF) prices are UP 13% year over year to $458,000
– Condos prices are UP 5% year over year to $230,000 

Inventory levels: SELLER’S MARKET – Inventory down Sales up
Total Inventory sits at 6.302 properties for sale, DOWN 13% from last year
Total Sales for last month were 2,441, up 109% from last year – but remember last March was that whole pesky COVID thing, to give you some context 😉
Days on Market for single family homes now sits at 37, down from 48 last month

Months of Inventory are 2.5 months of inventory.
We are sitting in a seller’s market (anything under 4 months is a seller’s market)

What does this all mean anyway?

Does this mean all home prices are going up?
No.
As mentioned before, a home needs to be priced right to sell. Overpricing often ends up netting you less money.
It depends on when you purchased your home (did you buy at “high” time over the last 14 years)?
What has the neighbourhood done (some areas do better than others)?What it DOES MEAN is that you need to make sure you are making WISE decisions in this time when it comes to buying and selling. Don’t overpay for a property, and don’t make a mistake selling.I’m here to help, even just give some advice (I have grey hair now so I’m pretty sure that makes me wise 😉
April Market Update Video

Thank you for all your support!

I’m a pretty lucky guy getting to work with so many amazing people.

All my best,
Kevin Machado
780-935-5762
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