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Market Updates

September Market Update

Back in the swing of things

If you’re anything link me you’re probably already neck-deep into family activities…school, gymnastics, dance, hockey…and then there’s the kids activities too (jk ūüėČ

September can whip past us like basically everyone in my half marathon race this past weekend. Enjoy the moments and don’t forget to hydrate.

Featured Listing

This one is pretty amazing AND it comes with a 2000sqft shop!

2023 Market Update

Your Market Update
Should you list now or wait?

I have been getting a number of friends and clients reaching out to me asking if they should list their home now or wait until after Christmas. Of course, that is a personal question depending upon whatever is going on in their lives, but I think the deeper question is, “How does our market respond in the back half of the year?”

Our market does follow along pretty closely with the weather. We peek generally in late July, slow down a bit in August to early September, and then pick up again mid September until early to mid December.

What that means is that we have another solid 2+ months for sellers. So there still is an opportunity to sell this year!

If you need to do some work, that is going to take you time to get ready, I would recommend getting started to see how much you can accomplish in the next 2 to 3 weeks. If you need help with trades, I have a trusted trades list that I would happily pass along.

So, my friends who are selling, there is still an opportunity this year. My friends, who are buying, you may be able to find some good buys over the next few months. Reach out and I would be happy to chat with you more about your specific needs.

PS – you can win a Premium Netflix subscription from Re/Max here ūüôā

Now, for the stats…

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

–¬†Single Family Homes¬†prices are¬†UP 2%¬†year over year, and¬†DOWN 1%¬†month over month to¬†$495,000 ($504,000 the previous month)
 Semi-Detached Homes are UP 4.3% year over year, and DOWN 1% month over month to $373,000 ($379,000 last month)
РTownhomes are UP 3% year over year, and DOWN 4% month over month to $253,000 ($264,000 last month)
РApartment Condos are DOWN 1% year over year, and essentially FLAT month over month to $193,000 ($195,000 last month)

Inventory levels: SELLERS’ MARKET¬†
Total Inventory sits at 6.770 properties for sale
Total Sales for last month were 2,250 , UP 21% from last year, and DOWN 2% from the previous month
Days on Market for single family homes sits at 45, UP from 38 the same time last year and UP from 44 last month

Months of Inventory are at 3 MONTHS OF INVENTORY
 UP from 2.9 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