We’re shovelling snow but the market is wearing shorts and is sitting on a patio 😎
I hope you are enjoying your start to 2022. We’ve enjoyed a new Olympic sport…driveway-ice-sledgehammering! Seriously, the ice has gotten so thick on our driveway that we brought out a sledgehammer to try and break it up…crazy right?!
Anyway, I got another email from Rank My Agent. After ranking in the Top 100 Agents in all of Canada, I also got chosen as one of the Best Agents in St. Albert. Again, I’m humbled and honoured (and pretty sure there’s some other “Kevin Machado” out there 😉
It’s all because of you…THANK YOU! 🙏
My monthly SHOUT OUTS / THANKFUL THOUGHTS
That the ice is starting to melt
Kelly on getting your new place!
Erin and Chantel…welcome to my neck of the woods!
Nathan and Heidi, what an honour it has been helping you sell (over list price)!
Joel and Joanne…YOU did it! You bought your first place…YAY!! 🎉
I know there still is about 10″ of ice on you/my driveway, but the market is acting like it’s Spring. I can tell you that every sale I have been a part of so far this year has been over list price (and all the new builds are at list price). We’ve even lost out on some homes after going more than $35k over list price!
3 Things this likely means:
1. Be prepared for more property price increases (Supply and demand) 2. NOW is a good time to start thinking about listing your home (and booking a call with me) 3. Buyers need to be ready to buy with their pre-approval from their lender in hand
It’s a busy market, but there are ALWAYS opportunities, you just need to find them (and I can help)!
Now, for the stats…
Last month’s prices for Edmonton and Area:
– Single Family (SF) prices are UP 4.3% year over year, and down 3.6% month over month to $445,000 (remember these are January numbers, which is typically one of the lowest months of the year)
– Condo prices are UP 3.7% year over year, and UP 3.5% month over month to $225,000
Inventory levels: SELLER’S MARKET Total Inventory sits at 4,719properties for sale, down 14.8% from last year, and up 5% from December Total Sales for last month were 1,337, up 14.4% from last year, and UP 1.4% month over month Days on Market for single family homes sits at 51, down from 59 last year
Months of Inventory are now at 3.5 months of inventory (up from 3.4 last month)
We are STILL sitting in a Seller’s Market (anything under 4 months is a seller’s market)