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Market Updates

July Market Update – Welcome Summer 😎

By August 24, 2021No Comments

Wow, it’s hot!

Hey team!

I am not complaining at all! I LOVE the sun and would sit out on my deck in my swimming trunks all day if I could (don’t judge me). I do hope you’re able to enjoy this weather as much as we are – but if you need an AC unit for your hot house let me know…I know a guy 😉

Summer is here 😎

One of my favourite things to do during summer is to gather the kids around and tell them my favourite “dad jokes”. Do you have any favourites? I’m looking to add to my arsenal so if you have any good ones send them my way!

Did you hear about the kidnapping at school?
…it’s ok, she was just tired. 😂

My monthly SHOUT OUTS

  • Jake and Averi, congratulations on your first house together!! PS – if anyone need a new Dodge, Jake is your guy! 🙂
  • Jenn and Mark, you did it! You sold your rental property – woohoo!
  • Jamie and Natasha, it was a bit of a rollercoaster but we did it and sold your home in multiple offers and over list. Now to pack!
  • Jordan and Andrea, what an honour it was helping you sell your condo. Congrats!
  • Guido + team, your first flip is now sold!
  • Ryan and Ashley, helping you guys was a special pleasure. I’m glad you’re moving back to Edmonton (and we can eat pirogies together!! 🥟)
  • Ryan and Meghan, it’s been a couple years but we found the PERFECT home built by Karoleena Homes, which is just SO COOL!!

Thank you for trusting me and for letting me play a small part in your home journey 🙏

Check out my listings here

How’s the market?

Hot weather, warm market.

The last 12 months in the real estate market have been, well, crazy! Across Canada we have see record prices bolstered by record low interest rates.

Here in the Edmonton area we still have a strong market, but it’s not what it was a couple months ago (I would find myself often in line ups 11 Realtors deep just to view a home!). We still are in a SELLER’S MARKET (with 2.9 months of inventory) and properties that are priced and marketed well are selling quick. However, properties that overprice off the start end up spending quite a bit of time on the market and drop their price further.

*PROTIP: List right, right away

I know, we all want the most for our homes, it’s human nature. However, we see the most activity on listings in the first week, which is our best opportunity to get an offer (or even multiple). Being listed and priced right, right away is going to help you sell for the most value in the least amount of time.

Now, for the stats…

Last month’s prices for Edmonton and Area:
– Single Family (SF) prices are UP 11% year over year, and up 1.5% month over month to $472,000
– Condos prices are UP 9% year over year, and flat month over month to $242,000 

Inventory levels: SELLER’S MARKET 
Total Inventory sits at 8,023 properties for sale, up 1% from last year, and up 5% from last month
Total Sales for last month were 2,729up 33% from last year, and flat month over month
Days on Market for single family homes still sits at 28, flat from 28 last month and 53 last year

Months of Inventory are 2.9 months of inventory.
We are STILL sitting in a seller’s market
(anything under 4 months is a seller’s market)

What does this all mean anyway?

If you’re looking to make a move in this market it really depends on your home, your needs, and your specific situation.

Book a time with me and we can chat 🙂

July Market Update – From my backyard 😎

Enjoy your summer!! 😎☀️

Your friend,
Kevin Machado
780-935-5762
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Keeping people connected with valuable infoOur mailing address is:

Kevin Machado Real Estate

11 Newcastle Way

St. AlbertAlberta T8N 4C4

Canada

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