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Market Updates

June Market Update and 70+ 5 Star Reviews!

It’s time to start working on that tan 😎☀️

Hi there!

School is almost finished for all the kids and teachers out there and we are heading into what may be a more “normal” summer than what we expected. I hope you’re able to get out and enjoy what our beautiful province has to offer this summer.

One really neat thing happened recently…

We surpassed 70 five star reviews on the Google! 😮

I am so thankful for all of you who have supported me by referring your family, friends, and random people on Facebook to me! THIS is what my business is built on…helping good people and them telling other good people about me. I can’t say it enough, THANK YOU for all your support (and reviews) 🙏

…maybe we’ll get to 100 by 2022 😉

More great clients moving on to what’s next…

My monthly SHOUT OUTS:

  • Tyson and Evie, we sold your treehouse…and the home that goes along with it!
  • John and Robyn, now you’re close enough to keep tabs on those crazy kids of yours (Nik and Kristyn 😉
  • Jason and Sarah, how cool is it how we were brought together and now you have a beautiful home in Beaumont?! SO cool!!
  • Christina and Dave, you bough some dirt in St. Albert that will eventually be a house before you arrive – can’t wait to meet you in person and not just on FaceTime!
  • Dave and Jodie, congrats on the sale…I think I need to start giving you guys frequent flyer miles or something 😉
  • Richard, you bought your first home…how awesome is that?!
  • Jen, you did it! All your hard work paid off and you sold your downtown condo!

Honestly, you’re probably annoyed with how much I say this, but I am so thankful for the opportunity to serve you all. Thank you for trusting me and letting me help guide you through the journey.

Check out these listings!

“How’s the market?”

The market is still proving to be strong, but some changes took place

We’ve seen some changes taking place. The government bolstered their qualifying rate (essentially taking away 5% of people’s buying power – so if you could afford a $500k home previously, you now can afford $475k). The days on market have continued to drop (things are selling quick!). We’ve seen inventory rise with sales trailing off slightly month over month.

Are we going to see some stabilizing through the summer months?
Is the market going to crash and I can buy a house for the price of a happy meal like the internet said?!?

Uh, likely not. With lumber prices, the economy opening up, and demand still high, it’s still looking to be a strong market through the summer.

Last month’s prices for Edmonton and Area:
– Single Family (SF) prices are UP 13% year over year, and up nominally 1.5% to $465,000
– Condos prices are UP 18.4% year over year, and up 5.7% month over month to $242,000 

Inventory levels: SELLER’S MARKET 
Total Inventory sits at 7,573 properties for sale, DOWN 2% from last year, and up 7% from last month
Total Sales for last month were 2,741up 137% (ha!) from last year, and down 4% month over month
Days on Market for single family homes now sits at 28, down from 30 last month and 60 last year

Months of Inventory are 2.76 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 🙂

June Market Update Video

Thank you for all your support!

All my best,
Kevin Machado