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Market Updates

September 2021 Market Update: Is the Edmonton, St. Albert, & area market BALANCING out?

Back at it!!

I hope you and yours enjoyed a beautiful Alberta summer and are STILL enjoying these nice sunny days ☀️. Erin, the kids and I love getting out on the trails and soaking up as much outdoor adventure time as we can, including riding our bikes down to the St. Albert Farmer’s Market, which is pretty amazing!

My monthly SHOUT OUTS

  • Melanie and your family, thank you for trusting me with the sale of your family home (right out of the 70s!)
  • Luke and Jessica, congrats on your sale and enjoy your new adventure in Washington!!
  • Jeremiah and Nicole, welcome to the neighbourhood! I promise I won’t randomly show up in your backyard (very often 😉
  • Rosemarie and Tom (REALTORs in Victoria) who helped take care of a client and friend…and sold their family property well over list price!! 👏
  • A BIG THANK YOU to everyone on the Facebook and Instagram that has been liking and sharing the video of the stunning home we listed in St. Albert with the indoor pool…that I MAY have jumped into wearing my suit 😬
PS – there is a brand new pool heater 👍
PPS – it was not on 🥶
My Listings

How’s the market?

Balancing through summer, but will we see a push through fall?

As we look over the numbers from summer we see that demand and inventory have trailed off month over month. This is pretty common for our summer as people take time off to enjoy before the September routine hits.

The last 18 months of real estate in Edmonton, St. Albert, and really across Canada has been a wild ride. Prices increasing, inventory shortages, building costs going up.

Now, I do believe we are going to see some strength come back as we make our way through the fall.

Last opportunities to buy and sell before the snow flies (sorry for saying a bad word)!

Now, for the stats…

Last month’s prices for Edmonton and Area:
– Single Family (SF) prices are UP 4.9% year over year, and down slightly -1.1% month over month to $461,000
– Condo prices are down 0.8% year over year, and down 5.2% month over month to $228,000 

Inventory levels: SELLER’S MARKET 
Total Inventory sits at 7,689 properties for sale, down 1.9% from last year, and down 4% from last month
Total Sales for last month were 2.056up 9% from last year, and down 6.8% month over month
Days on Market for single family homes still sits at 35, up from 33 last month and down from 46 last year

Months of Inventory are now at 3.7 months of inventory (up from 3.6 last month)

We are STILL sitting in a Seller’s Market
(anything under 4 months is a seller’s market)

What does this all mean anyway?

The same as always…be smart.
Buyers have opportunities right now that they haven’t had for the majority of this year.
Sellers need to make wise decisions to be prepared for the fall run up.Book a time with me and we can chat 🙂
Your Market Update

Enjoy the long sunny days ☀️😎

Your friend,
Kevin Machado
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