2012 REALTORS® Housing Forecast Seminar
REALTORS® anticipate stable real estate market in 2012
Edmonton, January 11, 2012: Doug Singleton, President of the REALTORS® Association of Edmonton announced the real estate industry housing forecast for 2012 at an industry seminar on Wednesday. He expects that the current stable market will continue through 2012 with prices and unit sales increasing slightly year-over-year and real estate transactions to follow typical month-to-month trends.
“I do not see any external forces that will influence the normal operation of the real estate market locally in the year ahead,” said Singleton. “Mortgage interest rates are expected to remain stable through 2012 and there will be balanced demand on both the buyer and seller sides of the market.”
The REALTORS® Association is forecasting that the all residential price for housing in the Edmonton area will increase about 2% over the year ahead. Single family detached home prices will increase on average by 2% over the year and condominiums, which are oversupplied in the market, will have their prices increase just one percent. A single family detached home that sold for $372,000 in December 2011 will be priced at $380,500 at the same time this year. Condos are currently selling on average for $230,000 and will increase to $237,000 by next December.
Singleton expects that residential unit sales will increase slightly in 2012 as compared to similar unit sales in 2011. “This is a balanced market with great opportunities for both buyers and seller,” he said. “Inventory levels will be sufficient to provide choice to buyers and yet the rate of sales measured by Days-on-Market and sales-to-listing ratios will be sufficient to satisfy most sellers.” He pointed out that sellers can increase their chances of a successful sale by ensuring that their property presents well and is priced realistically for the neighbourhood and time of year. There are 3,200 REALTORS® available to advise potential buyers and sellers on price, marketing and contract details.
The continued growth of Edmonton and surrounding communities will also result in higher commercial real estate activity in 2012 as more small and medium businesses start-up and industrial development creates the demand for warehouse condo construction and business offices. In 2012 there was $240 million worth of commercial sales transacted through the local MLS® System.
Shirley Williams and the team at Royal LePage Premier Real Estate would like to extend geetings of joy and goodwill this holiday season. Happy Holidays to all our friends and clients and all the the best in 2012!!!!
It's OFFICIAL!! We are now Royal LePage Premier Real Estate!! We still have the same fantastic staff ready and willing to make your dreams possible. I am excited to announce that I have also hired 5 new realtors, and have an in-house lawyer and in-house mortgage broker as well to help you with all your home purchasing/selling needs.
We truly are a full service agency that can meet all your needs. Get Listed, Get Sold!
Coming soon Royal LePage ArTeam St. Albert is changing its name to Royal LePage Premier Real Estate. I have recently purchased the existing company and as of Oct 1, we are changing the name. I am now the owner/broker of Royal LePage St. Albert and am currently recruiting realtors to this new and exciting company.
Royal LePage has been a trusted Canadian brand since 1913.
FACTS:
-Royal LePage has grown to over 13,000 realtors in more than 600 locations across Canada.
-In the past 10 years, Royal LePage has more than doubled in size and tripled its share of the Canadian residential market.
-Royal LePage is the only Canadian real estate company with its own charity and our foundation is the largest public foundation in Canada, supporting shelters and ending violence against women and children
-Our Canadian partnership with Leading Real Estate Companies of the World (the world's largest referral network) gives your property exposure to buyers from around the globe
-We invest in millions in information technology to ensure speedy communications, improve the flow of information, and make sure our messages reach the widest possible audience
Thank you for all your support, hope to work with you soon!
Sincerely,
Shirley
Thank You to all my clients for helping make me the #1 Top Producer of the Year AGAIN for 2010!
I look forward to providing you with all the knowledge and professionalism needed for your sale or purchase in 2011.
Call me now for a current market evaluation and 110% service.
For #1 Service choose your #1 Producer!
Sincerely, Shirley
Hi Everyone,
Please come and visit me this weekend, Saturday October 2 from 11-5 at HorseSence Training and Petting Zoo (54410 Range Rd 255, Sturgeon County) for an Open House and Trade Show. Come in and enjoy free lunch, petting zoo and pony rides. Also enter into win a Free IPAD!! Hope to see you all there!!
Shirley
Edmonton, April 6, 2010: Housing figures released by the REALTORS Association of Edmonton for March and the first quarter of 2010 show that resale housing prices are up; listing and sales are up. "There is consumer confidence in this market and both buyers and sellers appear eager to enter the housing market," said Larry Westergard, president of the REALTORS Association of Edmonton. "Prices are up about 10% from a year ago and sellers are eager to take advantage. Buyers are aware of higher mortgage rates ahead and are getting into the market before the rates rise." Single family residences in the Edmonton area sold on average* for $388,473 in March which is up 4.7% from February and 11% from a year ago. Condominium prices rose by 8.4% month-over-month and 10.5% year-over-year. The average condominium sold for $252,416 in March. Duplex and rowhouse prices (at $313,836) dropped a third of a percent in March, but were up 10.4% from a year ago. The average residential price was $343,607 (up month-over-month by 8.5%). Sales also demonstrated the optimism of the marketplace. 3,728 residential listings in March were up over 30% from a year ago, and up 246% in the first quarter. Residential sales of 1,571 properties in March were up 15.1% from a year ago and 77.3% in the first quarter. Sales were up from 1,307 in February: a 20.2% increase. The March sales-to-listing ratio was 42%; down from 52% in February, "Seller activity has boosted the inventory to 6,770 residential properties," said Westergard. " I am less concerned about available inventory now than I was at the beginning of the year. I think the market has reached a balance between buyers and sellers." All major banks raised their fixed mortgage rates in late March and the Bank of Canada has warned that interest rates will rise again after the second quarter. Many buyers are hurrying to lock in rates and find a home before the more stringent qualification requirements for mortgages come into effect on April 19. Alberta will not be influenced by the GST harmonization taking place in Ontario and BC so we may not see the sales slump in the second quarter that is expected in those two provinces. The average days-on-market in March was 41 as compared to 47 in February.
March 2010 Activity Record for the month* % change from March 2009
Total MLS System sales this month 1,744 16.50%
Value of total MLS System sales-month $539 millon 28.90%
Value of total MLS System sales-year $1.25 billion 24.10%
Residential sales this month 1,571 15.10%
Residential average price $343,607 11.70%
SFD average selling price - month $388,473 11.00%
SFD median selling price $364,000 9.20%
Condo average selling price $252,416 10.50%
**Stats provided by the Realtors Association of Edmonton. Average prices indicate market trends only. They do not reflect actual prices, which may vary.
* TIME IS RUNNING OUT!!
For buyers, if you want to take advantage of qualifying for your mortgage before the rules change time is of the essence . Buyers have until APRIL 19TH 2010 to qualify before the following new changes come into effect;
. Qualifying interest rates guidelines will change as follows:
. HELOC'S, and Fixed Rate Mortgages of terms less than 5 years and all Variable Interest Rate Mortgages: Applications will be adjudicated based on the greater of the 5 year Bank of Canada Benchmark Rate, OR the actual customer rate (inclusive of any customer discretion).
. Fixed Rate Mortgages of terms 5 years or greater: Applications will be adjudicated based on the actual customer rate (inclusive of any customer discretion).
. This change applies to both conventional and insured mortgages.
So take advantage now and call me to find your Dream home today !!
Spring is finally here and the market is HOT HOT HOT!!! Buyers are active and trying to make the most of the time left before the mortage qulifying rules change in April and the banks tighten up. If you are thinking of listing your house now is the time to do it before the spring rush comes and more listings come on daily over the next few weeks. There is less competiton on the market right now if you list now you will only have say maybe 10 homes to compete with where in a few more weeks you will have 20 to compete with. Prices have increased slightly and number of units sold is up we are seeing multiple offers in fact I myself had a multiple offer last week on my new listing which sold for full list price in 1 week. So its a great time to get your house on the market.
Thanks again to all my clients for another great year and helping me achive my new;
TOP 5% REALTOR EREB mls sales MEDALLION AWARD
Come and join me today at my open house in Evansdale 2- 4pm and check out this brand new 2009 huge 2 storey REDUCED $30,000. (see open houses) for address. Hope to see you there.
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Evansdale, Edmonton - We invite everyone to visit our open house at 9611 144 Avenue on March 14 from 2:00 PM to 4:00 PM.
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For me success is not defined by material things but rather by whom I share my life with and the achievements and milestones we reach along the way. Having achieved the #1 REALTOR OF THE YEAR AWARD 2008 ROYAL LE PAGE ARTEAM ST.ALBERT, was a dream come true for me and a personal goal I had set for myself which came to be and something which I am very grateful and thankful for. However by sharing our success's and achievements I believe helps us become a better person so I would like to take this opportunity to thank all my past and present clients for all your business this past year and hope I can be of service to you all again in the future.
Life is rich with possibilities which can be achieved by determination !!!
Thanks Shirley