Skip to main content
Market Updates

September Real Estate Market Update

School and Sports and Nominated for St. Albert Votes…OH MY!

We are fully back in the swing of things.

The trailers are packed away. Time at the beach, even in Jensen Lakes, is waving goodbye, and we’ve welcomed back school and sports like we never left. I’ve even been roped into being the head coach of my son’s U13 hockey team (poor kids, they don’t know what they’re in for, lol)!

It’s a good reminder to enjoy every moment. Soak in the sunsets and eat more ice cream (or pumpkin spice lattes are back I hear).

I always say how grateful I am to work with such amazing clients who spread the word about me. I’m a pretty lucky guy.

SO, I’ve been nominated as one of the favourite Realtors in St. Albert ūüėģ
What an honour!

If you have 5 seconds (and you think I deserve it, of course) would you be willing to vote for me? It would mean so much!

Vote for Me ūüôā

My monthly SHOUT OUTS / THANKFUL THOUGHTS

  • Dave and Berrie – YOU SOLD YOUR HOUSE!!
  • Pamela and Adam on getting your home sold
  • Brett and Courtney on selling your place in Spruce Grove
  • Stephen and Eva on buying your new place…how exciting!!
  • And all the people who have been referring me

Thank you!

Most of my listings are SOLD, but check these out!

Your Market Update

Things are shifting.

You’ve probably noticed things are starting to change around here. Maybe those “For Sale” signs are hanging around a bit longer as you stroll through the neighbourhood and there’s not a lineup of 10 agents waiting to get into a house that was just listed.

With the Bank of Canada raising the Overnight Rate to 3.25% and Prime Rate now sitting at 5.45%, it has put some pressure back on our market.

Our market is BALANCING out, shifting from a Seller’s Market to a Balanced Market (equal opportunities for buyers and sellers). Yet, our prices are still UP year over year (1.8%) but down from our highs earlier this year when everything was going crazy. We will likely see prices continue on a similar trajectory over the next 6+ months, so there could be some good opportunities for buyers. Sellers will need to make sure they are following things astutely and being in line with the market to make sure you can sell and not just put-it-for-sale-and-sit.

As mentioned last month, these are interesting times and having the right advice (“Should I sell, buy, hold, invest, buy cans of Spam??”)¬†will no doubt help save you stress and likely thousands of dollars!

Don’t hesitate to reach out if you have any questions at all!

Want to chat? Book a call!

Now, for the stats…

Last month’s prices for Edmonton and Area:
–¬†Single Family¬†(SF) prices are¬†UP 1.8%¬†year over year, and¬†DOWN 4.1%¬†month over month to¬†$469,000¬†(we were at $489,000 in July)
–¬†Condo¬†are¬†DOWN 3.3%¬†year over year, and¬†DOWN 4.2%¬†month over month to¬†$220,000

Inventory levels: BALANCED MARKET …for the first time in a long time
Total Inventory sits at 7,922 properties for sale, DOWN 0.5% from last year, and DOWN 4.8% from last month
Total Sales for last month were 1,809, DOWN 12% from last year, and DOWN 8.3% from last month
Days on Market for single family homes sits at 37, UP from last month at 33 and the same as last year at 27

Months of Inventory are at 4.3 MONTHS OF INVENTORY 
up from 4.2 MOI last month
We are sitting in a BALANCED Market
(0-4 months is¬†Seller’s; 4-6 months is Balanced; 6+ is Buyer’s)
Your Market Update
Your friend,
Kevin Machado
780-935-5762
Facebook
Instagram
YouTube
Website