The Latest Real Estate Statistics

May 2024

In the month of May 2024, the housing market in Greater Edmonton Area (GEA) showed promising growth, with total residential unit sales reaching 3,220. This is an increase of 3.3% from April of 2024 and 18.9% higher than May of the previous year.

As for new listings, there were 4,325, a 13.4% increase from April 2024, and 12.6% higher than May 2023. Furthermore, inventory also increased by 6.9% compared to the previous month, but it is still 17.1% lower than May of 2023.

Residential Prices

Residential average prices were $441,350 in May 2024, indicating a 2.2% increase from April 2024, and a 5.0% increase from May 2023. Detached homes averaged at $546,390, marking a 3.0% increase from April 2024…

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What Do You Need To Purchase A Home in Alberta?

When thinking of purchasing a home in Alberta, it's more than just picking up a property you like, signing a few documents and moving in. The process involves careful planning, saving and making calculated decisions. Here is a comprehensive step-by-step guide that outlines all the necessities you will need when buying a home in Alberta.

1. Down Payment:

The first crucial item that you need to afford is the down payment. The amount varies based on the purchase price of the home. If the cost of your dream home is less than $500,000, you're required to make a minimum down payment of 5%. For homes priced between $500,000 and $1 million, the down payment is 5% for the first $500,000 and 10% for any…

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Cumberland | Northwest Edmonton

Nestled in the bustling cityscape of Edmonton, Alberta, Cumberland stands as a serene and vibrant community that offers a unique blend of urban convenience and suburban tranquility. For home buyers seeking a welcoming neighborhood with a rich tapestry of amenities, community spirit, and recreational opportunities, Cumberland is an ideal destination. Let’s dive into what makes Cumberland a sought-after locale for new and seasoned homeowners alike.

Key Attractions & Landmarks in Cumberland

Retail & Dining

One of the many conveniences of living in Cumberland is its proximity to essential services and delightful eateries:

  • Save-On-Foods: A well-stocked grocery store that caters to all your daily needs.
  • IHOP:…

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Are you planning to put your home on the market soon? One essential yet often overlooked step in the preparations is touching up the paint. A fresh coat of paint can make all the difference, helping your house stand out to potential buyers and maybe even boosting your property's value. But, you do not need to invest in a complete repainting project. A few touch-ups can do the trick and you can easily do it yourself by following these easy steps.

Step 1: Match the Paint

To ensure your touch-ups blend seamlessly with the existing paint, it is crucial to use the same color and finish. Check the original paint can for the color code, or take a small sample of the wall paint to the store for a perfect match. Alternatively, you can use a paint color…

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Discover Griesbach: A Hidden Gem in Edmonton, Alberta

Nestled in the northern part of Edmonton, Griesbach is more than just a community—it's a town within a city, a place that evokes a sense of nostalgia with its '40s-style architecture while exuding modern charm. With its inviting front porches and meticulously designed rear-lane garages, Griesbach offers a warm, friendly, and welcoming atmosphere where neighbors are more than just faces—they become friends.

Key Attractions and Landmarks in Griesbach

A Neighborhood Like No Other

Griesbach is centrally located, just 20 minutes north of downtown Edmonton, bordered by 97 Street to the east, Castle Downs Road to the west, 137th Avenue to the south, and 153rd Avenue to the north. This well-planned…

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Renting vs. Buying

In the grand scheme of life's biggest financial decisions, the choice between renting or buying a home ranks pretty high. Both options come with their own set of advantages and disadvantages, and the decision ultimately depends on your personal and financial circumstances. We aim to delve into the ins and outs of renting and buying in Edmonton Real Estate, and provide steps to assist you in determining which is best for you.

Firstly, let's look at the benefits and drawbacks of both options.

On the positive side, renting a home is often cheaper than owning one. It provides flexibility, which can be beneficial if your job or lifestyle requires you to move frequently. Renters are usually not responsible for maintenance or repairs,…

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Navigating the Closing Process in Edmonton's Real Estate Market

The closing process in Edmonton's real estate marks the finale of the property purchase adventure - a day filled with excitement and a bit of paperwork, resulting in the official changing of hands from seller to buyer. In Edmonton, understanding this process is crucial for both buyers and sellers to ensure a smooth transition and to safeguard their interests. This guide will walk you through the key stages of closing in Edmonton, making sure you know what to expect on this significant day.

What Happens on Closing Day?

Closing day is the culmination point where the transaction is finalized. Funds are transferred from the buyer’s to the seller's lawyer, after which the seller receives…

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The Marvellous Community of Keswick, Southwest Edmonton

Welcome to Keswick, a stunning community nestled in the Southwest Edmonton region. A haven of natural beauty and modern living, Keswick draws inspiration from an English town renowned for its lakeside allure, offering an unbeatable combination of sophisticated living, scenic surroundings, and convenient access to a host of amenities.

Homes:

Born in the late 2000s, Keswick's development is ongoing, attracting attention for its range of new luxury homes that blend modern style with timeless elegance. The community is divided into Valleyside, currently under development, and Estates, home to a gamut of luxury properties. Keswick single-family homes for sale dominate the housing landscape, with…

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The Quick Guide to Pre-Sale Home Prep: Do's and Don'ts

Preparing your home for sale is much like setting the stage for a grand performance. Every detail contributes to the overall perception and value of the property. Drawing on expert insights, here’s a comprehensive guide to the essential do's and don'ts of presale prep, ensuring your listing shines in the spotlight.

The Do's of Pre-Sale Prep

1. Start with Curb Appeal

The first impression is everything. Enhance the exterior to welcome potential buyers with open arms. A few changes can make a significant difference - from updating landscaping and cleaning driveways to adding a fresh coat of paint to the front door. Seasonal touches, like potted evergreen plants in winter or hardy blooms in…

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Navigating the Booming Real Estate Market in Edmonton [April 2024 Update]

In recent months, the Edmonton real estate market has been a beacon of activity and growth, reflecting dynamic shifts and trends that have caught the attention of homebuyers, investors, and sellers alike. April 2024, in particular, has showcased significant movements that highlight the robust nature of this market. Here’s what you need to know to successfully navigate these changes.

Surge in Sales and Listings

April witnessed a remarkable escalation in activity within the Greater Edmonton Area (GEA), marking a period of enthusiastic buying and selling. Residential unit sales skyrocketed to 3,128—up 27.1% from March 2024 and an impressive 54.9% when compared to April the…

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