Skip to main content

CONDOS ACHIEVE BIG GAINS IN JUNE

The biggest gains in terms of price in real estate in June were condos. This, according to statistics from the REALTORS® Association of Edmonton.

The average sales price of a condominium in the Edmonton region rose by over 10 per cent in the month of June when compared to May, and nearly 9 per cent compared year-over-year with 2012. Overall, the average residential sales price rose by 1 per cent from May and over 4 per cent from the same time period one year ago.

As prices creep up in single family dwellings, buyers are finding it a challenge to find a home in their price range. Condos therefore, become an affordable alternative. The average price of a single family dwelling in June was $412,269, up from $402,840 this same time last year.

While condos also rose to an average price of $261,854 this year, compared to an average price of $240,822 this same time last year, condos still remain much more affordable than single family dwellings. Nevertheless, sales continue and the average days on the market of a single family dwelling before being sold was 43 days. Last June, the average was 46 days. For condos, the average days on the market in June, 2013 was 54 while in June, 2012, the average days on the market was 58.

Buyers unable to find the right home in terms of traditional housing should consider condos as an option. First-time buyers will find condos an excellent start to get into the real estate market.
If you are looking for your first home, or are thinking of selling your present home, the advice of a REALTOR® is always your best choice. There are options if you think you may not be able to buy a home. But there is.

Visit my website www.valeriemcconville.com to contact me and learn more.

Comments

Post a Comment

Popular posts from this blog

4 TIPS FOR A PRODUCTIVE 2021

  4 Tips for a Productive 2021 (Family Features) This year has taught many workers a thing or two about being productive when offices and homes blend into one. As the calendar turns to 2021, consider these key products and processes to stay productive next year. Find a system (and stick to it): Creating an organizing system is an easy way to ensure your at-home workspace is ready for optimal productivity. Designate space to house all your work items – a drawer, cabinet or box – and keep work items organized by type (pens, papers, computer gear, etc.) At the end of each day, transitioning to “offline hours” can be easier when you have a place to stow your work items. Start your day clean: Studies have shown cleanliness has a direct impact on productivity. Yet, many people struggle to find the time and energy to clean, especially at the end of a busy day at home. An option like The DEEBOT T8 from Ecovacs provides a hands-free cleaning experien...
Post a Comment
Read more

UNDERSTANDING HOW POCKET LISTINGS WORK

Have you ever wondered what a “pocket listing” is?  Learn a little bit about this trend in hot markets and how an agent familiar with pocket listings can help you sell your home faster or find homes which haven’t hit the market yet. If you’ve been searching for a home or have been considering selling your home, you may have heard the term “pocket listings” from real estate agents or even friends and family. What is a pocket listing? Where did the term come from? How are pocket listings being used today to buy and sell homes? Pocket listings are homes which are for sale but not yet widely advertised or entered into typical MLS databases. Often an agent will enter into an agreement to sell a home, but will first reach out to their personal and professional network to see if anyone may be interested in a quick, private purchase. Ideally, the agent knows someone or another agent who has a client interested in the home and the whole process of listing and marketing the ho...
Post a Comment
Read more

UNDERSTANDING MULTIPLE OFFER SITUATIONS

In a seller’s market, multiple offers are not uncommon. But what does that really mean?  And how should you and your agent work together to generate the most interest in a multiple offer situation? Find out more in my post…  When inventory is tight and a market heats up, sellers often dream of finding themselves in a multiple offer situation. In a multiple offer situation, more than one potential buyer submits a written offer on the home. With multiple offers on a property, the listing agent can then try and “shop the top offer” in order to try and get the best deal possible for their client. If you live in a hot market, how do you structure your listing in such a way that you get the best possible offers in a multiple offer situation? One strategy for cultivating multiple offers is letting buyers know that the seller will only entertain offers on a certain date. Rather than deal with offers dribbling in one at a time, there’s a deadline for offers. When thi...
Post a Comment
Read more