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A Broken Record??…June 2019 City of Edmonton Stats

Thu, 11 Jul by melodykilbank

No we aren’t breaking any records but I know I’m sounding a bit like a broken record! (Now there’s an expression out of my youth!) Not much has changed with respect to the residential market in Edmonton.

Price averages are down year over year in all categories with the exception of condos. But they are up only .3%. All residential sales are down only 2.5% year over year which is a better stat than May which was 4.1%.

As for month over month all product price average remained flat and an increase of .2%. Single family average decreased over May by 2.2%. Condos increased 2.2% over May as well. Duplex/Rowhouses stayed flat at .7% increase.

Again, and this is where I sound like a broken record…We are sitting in a balanced position in all categories except condos. They are sitting on 6.9 months of inventory which is the lowest we have seen in over a year OR more!

So the two bright spots in this month’s numbers are the condo market is shrinking. And balanced markets are a great time to buy or sell, as there is no volatility to be concerned about long term.

May Market Stats – Good New/Bad News

Fri, 07 Jun by melodykilbank

Good news, bad news. Which do you want first?

When it comes to the City of Edmonton market stats the good news is absorption rates are moving up. All products except for condos are in a balanced market position. Notably houses are at 4.4 months which is at the low end. Condos are at 6.1 months which is just tipping the balanced to buyer market at .1%.

The bad news is all product categories are down in average prices year over year. Interestingly very close ranging from 3.7% to 4.5%.

More good news is that all product categories are up month over month. All residential is up 2%, houses 2.2%, condos 4.1% and duplex row house 2.2%.

As for the pace at which properties are selling here is another indicator of our current reality. Based on total inventory 1 in 5 properties sold in May. For houses one in 4.5 properties sold. Condos is 1 in 6.25 properties and Duplex Rowhouses one in 4.7 sold.

When it comes to selling, you need to have your property sparkle in order to get it sold! If you want some pre-listing advise on what to do to prepare to sell, call me! I’d be happy to come and take a look and provide some helpful tips.

Whether buying or selling count on me for professional, experienced representation.

A shift to a balanced market in some product categories!

Wed, 08 May by melodykilbank

April 2019 market stats are in and we are looking a little more positive than the past months. Inventory levels are now in a balanced market position for 3 categories: All Residential, Single Family Dwellings and Duplex/Rowhouses.

So here is the run down. Average prices for all residential is down 2.6% year over year, but up 1.7% month over month. Single Family Dwellings are down 1.4% year over year but only a slight increase of .1% month over month. Condos are still struggling, but have a more promising outlook this past month. Their average price was down 10.1% year over year, but UP 7.2% month over month. This category is still favoring a buyers market at 7.4 months of inventory. Duplex/Rowhouses are up .4% year over year but down .9% month over month, so their prices have stayed pretty flat!

So although our spring has been delayed in coming, the market is showing signs of new growth!!

Win your mortgage payments for a year!

Tue, 30 Apr by melodykilbank

What would you do with the money if your mortgage payments were paid for a year?
• Pay off your home sooner
• Develop the basement
• Finish your landscaping
• Take a well deserved vacation
• Save for retirement
• Treat yourself to some new furniture
• Help your kids with their education
• Go to Disney World!
It’s innovative! It’s unique! Our brokerage is offering a special incentive for Buyers! They could enter to win their mortgage payments for a year!! It could be life changing for them! Do you know anyone who is thinking of buying a property in the next few months? Perhaps a colleague at work? A friend? A family member? Your next door neighbor?
We are also drawing once per month for a free home inspection! AND we are drawing at 3 month/6 months for 2 $1000.00 cash prizes. Call me for more details!
Thinking of selling? Want to attract more buyer’s to your property. Find out more how this contest can get you more for your home! Call me for details!

Spring Has Not Sprung In The Real Estate Market!

Thu, 11 Apr by melodykilbank

Anecdotally I’m busier this week than last month at this time, however prices don’t seem to reflect a spring market just yet.

City of Edmonton ONLY average price for all residential show a decline of 5.7% year over year and .5% month over month.

Average prices for houses have dropped by 5.8% year over year and 1.5% month over month. We are in a balanced market with 5.6 months of inventory.

As for condos the average price drop year over year is 11% and month over month is 5.9%. Buyers are able to dominate transactions with 8.5 months of inventory to choose from.

Duplex/Rowhouses also saw a drop of 3% year over year but a 1.7% increase month over month. They are also in a balanced position.

I have some exciting news to announce regarding a special offer for home buyers. Watch my FB page, email or mail within the next week or so! Learn how a buyer could win their mortgage payments for a year!

Call me for professional representation!

February Average Prices Warmed Up!

Fri, 08 Mar by melodykilbank

Well, February had record breaking cold temperatures, but the City of Edmonton`s real estate average prices warmed up!

The good news for February is month over month the average sale prices rose. For all residential sales it went up by 7.3%. Single Family Dwellings were up 7.8% and Condos were up 3.2%. Duplex and rowhouses remained almost the same softening by .3%.

Now the not so good news…year over year prices fell in each category. All residential is down 5%, single family 3.5%, condos 7%. Duplex and rowhouses are down 9.6% year over year.

More good news is inventory levels for all categories are also down. This means more product is being purchased. Houses and duplex/rowhouses are hovering on the brink of being in a balanced market to buyers market, but condos are still favoring buyers.

If you are in the market to buy, act now. Don’t wait for March prices to climb. Spring will be here soon. We are still in a very affordable market.

Also I have an exciting announcement for all potential buyers. A special incentive being offered by my brokerage. Watch your inbox for further information next week!

Call me for professional representation!

Staging Your Home In A Hurry

Thu, 28 Feb by melodykilbank

Ideally you should have a week or two available
before you list your property in order to stage
your home and make it look its best for buyers.
But, what if you listed quickly and within hours of
the For Sale sign going up a buyer wants to view
your property?

In that scenario, you need to do some quick
“staging” to get your home ready. Let’s assume
your property is already clean and tidy. Here are
some other things you can do.

• Open the curtains, even at night. This will
make each room seem brighter, more
appealing and more spacious.
• Pull out some boxes or storage bins. Put away
personal knick-knacks (like that bowling
trophy) and other personal items to reduce
clutter on shelves and countertops.
• Clear countertops in the kitchen and bathrooms.
Put the old toaster oven out-of-sight.
• Make sure lighting throughout the house is
bright and comfortable. In darker areas, plug
in a lamp.
• Clear away as much as you can in the foyer.
Make that space look open, uncluttered
and welcoming.
• Move cars out of the driveway. Give the buyer
a convenient place to park!
• Make the beds. Fluff pillows on sofas.
• Clear away as many items as possible from
the closet floors (such as shoes.)
• Open a window and air out the kitchen,
especially if you just finished cooking.
• Make sure your pet is in a crate or, if possible,
out for a walk. Not everyone loves pets.

These staging tips take only a few minutes each,
but can make a big difference in the impression
your home makes on a buyer.

Want more home selling advice? Call today.

January 2019 Edmonton Market Update

Fri, 08 Feb by melodykilbank

As you may know, I build my business on repeat business and referrals. In 2018, 78.6% of my business was from your support! Thank you!

I focus a lot of my attention on providing the best client service I can. That service doesn’t end when the transaction is complete. It continues throughout the months and years in between your moves. In fact, that’s one of the main reasons I keep in touch with you with these informative updates.

City of Edmonton numbers for January 2019 is as cold as the weather! We are down in every product year over year and month over month. The only exception is condo average price was up 5.3% month over month. But you may recall condo averages before Christmas was very low so this bump up is bringing the average price back to where it was in November 2018. All categories are also in excess of 7 months of inventory as well. Check out a detailed video coming soon to your inbox.

Is there anything more I can be doing to be helpful? If so, please let me know. I welcome your call or email anytime.

If you – or a friend, colleague, family member or neighbour – ever need to talk to a real estate sales associate with the kind of commitment to client service that I strive to provide, I hope you’ll think of me.

I appreciate your support!

9 Steps to Finding your Next Dream Home

Thu, 31 Jan by melodykilbank

If you’re thinking ahead to your next dream home, the road you need to take to get there may seem confusing. Do you search for listings online? Drop by Open Houses on the weekends? Call the number on For Sale signs? Let’s break it all down! Here are the specific steps you need to take to ensure you find a home that fits your wants, needs and budget.
• Find out how much your current property will likely sell for on today’s market.
• Arrange for financing, so you know what you can afford. • Select neighbourhoods you’d love to live in. (That may involve some fun exploring!)
• Decide on the type of home you want to buy. (For example: detached, three-bedroom, etc.)
• Prioritize the property features you want most, so you can be flexible if a feature is missing from a home listed on the market that is otherwise ideal.
• View properties on the market that closely fit your criteria, particularly new listings that may not yet be posted online. (Tip: Arrange to be immediately notified of new listings that are a good fit for you.)
• When you find a home you want, make an offer designed to get the property — without overpaying.
• Negotiate until you secure the deal. This may involve counter-offers.
• If the negotiation is skillfully done and all goes well, the home is yours. As you can see, there isn’t a lot of mystery in finding your next dream home. You just need to take the steps and get the professional help you need along the way. Looking for a real estate agent that can get you to the finish line? Call today!

December 2018 Edmonton Market Update

Wed, 16 Jan by melodykilbank

Welcome to the new year. I hope 2019 is a wonderful year for you and your family.

December 2018 statistics for the City of Edmonton continue to surprise us. All residential sales were up 2.7% on average year over year and 2% month over month. All product categories are still favoring buyers.

Single family dwellings are up 4.3% year over year and 2.2% November over December. Condominiums are down 15.1% December 2017 over 2018 and down 6.3% month over month. Duplex/Rowhouses are up 1.3% year over year and up only a marginal .3% month over month.

Annual averages have softened in every category as well. All residential is down 1.6%; Single family dwellings down .7%; Condominiums down 5.4% and Duplex/Rowhouse is down 2.4%.

Over the next weeks you will likely be hearing lots of forecasting for 2019. I’ll have a special report next week on the REALTORS(R) Association of Edmonton’s predictions.

No matter what the market, people still need to buy and sell. The greatest opportunities are for the those wanting to upbuy.

Call me for professional representation.

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the REALTORS® Association of Edmonton. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.