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Market Updates

October Market Update – Trick or Treat?

Trick or Treat!

If you were wondering what your favourite Realtor’s favourite chocolate is, it’s a Resse’s Peanut Butter Cup. If the kids get any in their bags, I’ll have to make sure they’re “safe” for them and probably have to try a few.

I hope you have a lot of fun today handing out candy, trick or treating, and making some kids feel awesome about their cool homemade costumes ūüėé

Happy Halloween!

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Your Market Update

Your Market Update
Is it scary out there?

I know it’s Halloween and all the clown costumes have you a bit on edge, but does that mean we need to feel scared of our real estate market?

Nope.

This is the time of year when we begin to see some shifts and changes happening. The buyers out there making one final push before Christmas are out in full force, trying to find the right property. Sellers that are motivated are putting their places up looking for those right people before the end of the year.

There still are some great opportunities out there, but you need to use wisdom.
Sellers, we are beginning to see inventory creep up a bit, which can mean more challenges. Making sure that you have all the work done in your home prior to coming to market will help make sure yours is the one scene over the one down the street. Also, making sure your pricing is in line will help you avoid spending months on the market without an offer.
Buyers, it is still warm enough out there to go in buy a house. Make sure you’re pre-approved and ready to make decisions about homes on the market. In the coming months is when there will be some opportunities to potentially pick up some properties at a value price (some sellers might get a bit antsy as we creep up to the next holiday).

So, if you are thinking about buying or selling in this market, you need to have good advice, good preparation, and good people on your side to help guide and navigate you through the entire process. Don’t be afraid ūüėČ

Now, for the stats…

Last month’s prices for St. Albert, Edmonton,¬†and Area:

–¬†Single Family Homes¬†prices are¬†UP 2.4%¬†year over year, and¬†DOWN 0.4%¬†month over month to¬†$493,000 ($495,000 the previous month)
 Semi-Detached Homes are DOWN 4.2% year over year, and DOWN 5.2% month over month to $354,000 ($373,000 last month)
РTownhomes are UP 5.4% year over year, and UP 8% month over month to $267,000 ($253,000 last month)
РApartment Condos are DOWN 1.6% year over year, and essentially DOWN 5.7% month over month to $182,000 ($193,000 last month)

Inventory levels: SELLERS’ MARKET¬†
Total Inventory sits at 6.579 properties for sale
Total Sales for last month were 2,058 , UP 28% from last year, and DOWN 8% from the previous month
Days on Market for single family homes sits at 42, DOWN from 44 the same time last year and DOWN from 45 last month

Months of Inventory are at 3.19 MONTHS OF INVENTORY
 UP from 3 last month
We are sitting in a¬†SELLERS’¬†Market
(0-4 months is¬†Seller’s; 4-6 months is Balanced; 6+ is Buyer’s)
Your friend,
Kevin Machado
780-935-5762
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