Edmonton Real Estate Blog and Market Updates : page 4

Leger Housing Sales Report - Leger Edmonton Homes For Sale

Posted on October 3, 2012 by Bill Bhamra, REALTOR® Edmonton Homes for Sale

Reporting Period: January 1, 2012 – September 30, 2012

Summary of single family homes sold in community of Leger:

Total number of Single Family homes sold: 24
Average home selling price: $471.047
Average selling price per square foot: $274.82
Average days on the Market: 69 days

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Falconer Heights Housing Sales Report - Falconer Heights Edmonton Homes For Sale

Posted on October 2, 2012 by Bill Bhamra, REALTOR® Edmonton Homes for Sale

Reporting Period: January 1, 2012 – September 30, 2012

Summary of single family homes sold in community of Falconer Heights:

Total number of Single Family homes sold: 15
Average home selling price: $518,000
Average selling price per square foot: $248.22
Average days on the Market: 28 days

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Haddow Housing Sales Report - Haddow Edmonton Homes For Sale

Posted on October 1, 2012 by Bill Bhamra, REALTOR® Edmonton Homes for Sale

Reporting Period: January 1, 2012 – September 30, 2012

Summary of single family homes sold in community of Haddow:

Total number of Single Family (Detached & Attached) homes sold: 47
Average home selling price: $538,200
Average selling price per square foot: $270.93
Average days on the Market: 50 days

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Hodgson Housing Sales Report - Hodgson Edmonton Homes For Sale

Posted on September 30, 2012 by Bill Bhamra, REALTOR® Edmonton Homes for Sale

Reporting Period: January 1, 2012 – June 30, 2012

Summary of single family homes sold in community of Hodgson:

Total number of Single Family (Detached & Attached) properties sold: 18
Average selling price: $720,641
Average selling price per square foot: $272.49
Average days on the Market: 47 days

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Magrath Heights Housing Sales Report - Magrath Heights Edmonton Homes For Sale

Posted on September 29, 2012 by Bill Bhamra, REALTOR® Edmonton Homes for Sale

Reporting Period: January 1, 2012 – June 30, 2012

Summary of single family homes sold in community of Magrath Heights:

Total number of Single Family (Detached & Attached) properties sold: 13
Average selling price: $594,374
Average selling price per square foot: $288.28
Average days on the Market: 70 days

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Ambleside Housing Sales Report – Ambleside Edmonton Homes For Sale

Posted on September 28, 2012 by Bill Bhamra, REALTOR® Edmonton Homes for Sale

Reporting Period: January 1, 2012 – June 30, 2012

Summary of single family homes sold in community of Ambleside :

Total number of Single Family homes sold: 32
Average selling price: $503,691
Average selling price per square foot: $253.64
Average days on the Market: 49 days

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South West Edmonton Real Estate Update

Posted on August 23, 2012 by Bill Bhamra, REALTOR® Edmonton Homes for Sale

Zone 14 - Brander Gardens, Brookside, Brookeside, Buylea Heights, Carter Cresc, Falconer Heights, Haddow, Henderson Estates, Hodgson, Legar, Ogilvie Ridge.

Zone 15 - Allendale, Belgravia, Empire Park, Garneau, Grandview Heights, Landsdown, Lendrum Place, Malmo Plains, McKernan, Park Allen, Pleasant View, Queen Alexandra, Strathcona, Windsor Park.

Zone 16 - Aspen Gardens, Royal Gardens, Rideau Park, Duggan, Greenfield, Westbrook Estate, Sweet Grass, Blue Quill Estates, Steinhauer, Ermineskin, Skyrattler, Keheewin, Twin Brooks, and Bearspaw.

Zone 55 - Blackburne, MacEwan, and Richford

Zone 56 - Windermere Estates

Zone 57 - Woodbend Estates

Edmonton South West Homes for Sale

Edmonton South West Condos for Sale

Current Active Listings in SouthWest Edmonton

Sold Listings in SouthWest Edmonton in July 2012

DOM = Days on the Market

LP = List Price

SP = Sold Price

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Edmonton housing starts surge

Posted on August 10, 2012 by Bill Bhamra, REALTOR® Edmonton Homes for Sale

From The Edmonton Journal

EDMONTON - Jobs and newcomers are boosting home construction in the Edmonton region to levels not seen since the early 2000s, according to the Canada Mortgage and Housing Corp.

Housing starts in the Edmonton census metropolitan area for July surged to 1,435, up from 1,034 in July 2011.

“Housing starts in Edmonton continue to be supported by employment growth and net migration,” said David Lan, CMHC senior market analyst for Edmonton.

Lan pointed to Statistics Canada figures showing net migration to Alberta jumped to 22,067 people in the first quarter of 2012, compared to the 8,983 in the same quarter in 2011.

“A strengthening resale market also contributed to the higher level of housing starts in July.”

The increase is part of a year-to-date upward trend. From January to July, builders started 6,903 homes, up from 5,085 in the first seven months of 2011.

On a year-to-date basis, those levels are close to numbers seen in 2002 and 2003, Lan said.

Increases were seen in both single-family detached and multi-family residential sectors.

Single-family home construction in the Edmonton CMA went up 22 per cent in July to 582 homes, compared to 479 a year earlier.

For the city of Edmonton alone, builders poured foundations for 341 single-detached homes, up from 289 started in July 2011.

So far this year, 3,177 single homes were started, up 17 per cent year-over-year.

In the multi-family sector, 853 units started going up in July, compared to 555 a year ago. Nearly 90 per cent of the multi-family construction is happening in the city, CMHC said.

“When migrants first arrive to Alberta, they tend to rent first,” Lan said. “We’re looking at a very tight rental market so that’s why builders are building more rental apartments to meet the demand.”

So far this year, 3,726 multi-family homes started in the Edmonton CMA. That’s up from 2,380 homes started in the same time last year.

Provincewide, homebuilding is also up, with 2,611 starts in July compared to 1,953 a year earlier.

City of Edmonton chief economist John Rose said July marked the eighth consecutive month local housing starts have gone up.

“It’s reflective of the fact that the underlying economy is doing very, very well,” Rose said.

“This is the housing construction sector responding to the fact that we’re anticipating significant demand for new housing.”

But Rose said new home sales so far appear to be lagging behind starts.

“The mystery so far in the housing market for Edmonton has been the demand for new housing has been relatively muted given very strong employment numbers.

“It suggests significant pent-up demand and that people are being a little bit cautious and perhaps reflective of the fact that everyone’s looking around at the global situations.”

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We Nailed it! for Habitat for Humanity

Posted on August 4, 2012 by Bill Bhamra, REALTOR® Edmonton Homes for Sale

Once again Team Johnston spent a great day working at a Habitat for Humanity job site. It's great to be able to have and give back at the same time. We were able to put together a much bigger crew this year - 14 of us spent the day helping out wherever we could. They had just completed a number of homes and we had the privilege of watching 8 families receive the keys to their new homes. That meant there wasn't a whole lot of building going on but they found plenty of odd jobs for us to do.

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Citadel Ridge Housing Sales Report - Citadel Ridge Homes For Sale - Beaumont

Posted on June 27, 2012 by Bill Bhamra, REALTOR® Edmonton Homes for Sale

Reporting Period: June 28, 2011 – June 27, 2012

Summary of single family homes sold in community of Citadel Ridge:

Total number of single family homes sold: 16
Average home selling price: $396,993
Average selling price per square foot: $220.52
Average days on the market: 60 days

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Beau Val Housing Sales Report - Beau Val Homes For Sale - Beaumont

Posted on June 23, 2012 by Bill Bhamra, REALTOR® Edmonton Homes for Sale

Reporting Period: June 24, 2011 – June 23, 2012

Summary of single family homes sold in community of Beau Val:

Total number of single family homes sold: 7
Average home selling price: $317,428
Average selling price per square foot: $237.39
Average days on the market: 55 days

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Changes to Mortgage Standards

Posted on June 21, 2012 by Bill Bhamra, REALTOR® Edmonton Homes for Sale

As part of the Government’s continuous efforts to strengthen Canada’s housing finance system, the Honourable Jim Flaherty, Minister of Finance, today announced further adjustments to the rules for government-backed insured mortgages.

“Our Government stands behind the efforts of hard-working Canadian families to save by investing in their homes and their future,” said Minister Flaherty. “The adjustments we are making today will help them realize their goals, build on the previous measures we have introduced to keep the housing market strong, and help to ensure households do not become overextended. As just one example, the reductions to the maximum amortization period since 2008 would save a typical Canadian family with a $350,000 mortgage about $150,000 in borrowing costs over the life of that mortgage.”

The Government is announcing four measures for new government-backed insured mortgages with loan-to-value ratios of more than 80 per cent:

Reduce the maximum amortization period to 25 years from 30 years. This will reduce the total interest payments Canadian families make on their mortgages, helping them build up equity in their homes more quickly and pay off their mortgages sooner. The maximum amortization period was set at 35 years in 2008 and further reduced to 30 years in 2011.
Lower the maximum amount Canadians can borrow when refinancing to 80 per cent from 85 per cent of the value of their homes. This will promote saving through home ownership and encourage homeowners to prudently manage borrowings against their homes.
Fix the maximum gross debt service ratio at 39 per cent and the maximum total debt service ratio at 44 per cent. This will better protect Canadian households that may be vulnerable to economic shocks or an increase in interest rates.
Limit the availability of government-backed insured mortgages to homes with a purchase price of less than $1 million.

“Investing in a home is a great way to save,” said Minister Flaherty. “That is the dream that mortgage insurance was intended to support. The measures we are taking today maintain that intended purpose.”

Minister Flaherty said the new rules will take effect on July 9, 2012.

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