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Market Updates

Thankfulness and an October Market Update

Thankfulness

I have to say, I do love this time of year. I love the fall weather and going for walks / runs in our neighbourhood. The pumpkin pies! Birthdays…my oldest turns 13!!

This time of year is a great time to reflect back and think about those things we’re thankful for.

A practice my wife Erin got me into has been every morning reflecting on 3 things from the previous day that I am thankful for. Sometimes it’s coffee (…most of the time) but other times it’s the small things that help centre myself and get me focused on the good all around me, which also helps give me the energy I need to run around and help you guys sell your homes ūüėČ

Maybe it’s a helpful practice you can incorporate into your routine? If you do start, or if you already have something else you do, let me know, I’d love to hear it.

What are you thankful for?

My monthly SHOUT OUTS / THANKFUL THOUGHTS

  • The team behind the STUNNING 48 Goodridge project (who made possible¬†my pool jump video) – which sold over list price!
  • Jill and John, congratulations on purchasing your first home together!! I know you’re going to love those walks along the river
  • Garry and Verna, what an honour helping you move closer to your kids and grandkids¬†(and right into our neighbourhood ūüôā
  • Margarete, Sam, and the whole crew. Thank you for trusting me with the sale of your home ūüôŹ
  • All of you.¬†I could not do what I do everyday without your support and kind referrals. THANK YOU!
My Listings

How’s the market?

Normalizing through the fall

September saw things flatten out a bit after the wild ride we have been on for the last 18 months. Sales normalizing yet we are still just barely in a Seller’s Market.

What I anticipate is that we will see a bit of a push until mid to late November with some stronger activity and, of course, taper off for the Christmas month.

Now, I do believe we are going to see some strength come back as we make our way through the fall. With that being said, there typically are some very good opportunities to purchase in the last quarter of the year as we see a bit more desperation from sellers if they have been on the market for a while.

Now, for the stats…

Last month’s prices for Edmonton and Area:
–¬†Single Family¬†(SF) prices are¬†UP 2.8%¬†year over year, and¬†down¬†slightly -1.9% month over month to¬†$452,000
–¬†Condo¬†prices are¬†down 3.5% year over year, and¬†down¬†1.5%¬†month over month to¬†$224,000¬†

Inventory levels: SELLER’S MARKET¬†
Total Inventory sits at 7,367 properties for sale, down 2.3% from last year, and down 4.1% from last month
Total Sales for last month were 1,883, up 0.9% from last year, and down 8.4% month over month
Days on Market for single family homes still sits at 38, up from 35 last month and down from 47 last year

Months of Inventory are now at 3.9 months of inventory (up from 3.7 last month)

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

Thank you ūüôŹ

Your friend,
Kevin Machado
780-935-5762
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