Cominghome Real Estate

October Numbers — Sales Remain Strong Despite Seasonal Price Dips

Craig Pilgrim — Tue, 03 Nov 2009 15:08:00 +0000

Every month I review, modify/ adapt, and post the MLS® data for Edmonton and area real estate activity. The information is adapted from the REALTORS® Association of Edmonton Monthly MLS® Report and Press Release. You can view the original report in its entirety by visiting the REALTORS® Association of Edmonton website. Click HERE for a graphical representation of Edmonton’s average price over the course of the calendar year. Click HERE for a graphical representation of Edmonton’s actual month-to-month price over the course of the calendar year.
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Resale housing sales continued their strong trend through October with sales of all housing types through the Multiple Listing Service® in October at the second highest level on record (after October 2006). There were 1,535 residential properties sold in October; up 23% from 2008 but down almost 10% from last month; following the normal seasonal trend of month-to-month sales dropping through the fall. Residential housing prices remained stable and within typical ranges for seasonal fluctuations.

“The housing market in Edmonton and area is still robust,” said Charlie Ponde, president of the REALTORS® Association of Edmonton. “Homebuyers are confident about their future prospects and keeping an eye on the possibility that mortgage rates will rise. They can lock-in their housing costs for five years while rates are at historic lows if they buy in this market.”

Prices for single family dwellings were down 2.2%, on average*** from last month to $363,694 but up marginally (0.12%) from last year. Condominiums were down 3.2% from September to $237,601 but the same price ($11 difference) as a year ago. Overall, the average residential price in October was $318,969, down 2.5% from last month but up a third of a percent from 2008.

There were 2,205 homes listed on the MLS® System in October with 1,535 sales for a sales-to-listing ratio of 70%. The total value of residential sales in October was $490 million and total MLS® System sales (including rural and commercial properties) is up over last year for the year-to-date to over $6.18 billion. Total available inventory was 5,530 homes which is a typical 3.5 month supply. Homes sold on average in 47 days (44 in September but 58 in October 2008).

“Good looking homes in the average price range always sell quickly,” said Ponde. “Less desirable homes may take a little longer to find a buyer and home sales at the upper price ranges are steady. It is important to consult your REALTOR® to devise a strategy for buying or selling a home to ensure you get the latest market and neighbourhood information.”

Average prices indicate market trends only. They do not reflect actual prices, which vary from house to house and area to area. For information on a specific area, contact me directly
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October 2009 Activity	Record for the Month *	Percent Change from October 2008	Change From September
Total MLS^® sales this month	1,747	24.0%	DOWN
Value of total MLS^® sales – month	$575 million	26.2%	DOWN
Value of total MLS^® sales – year	$6.18 billion	1.60%	UP
Residential¹ sales this month	1,535	22.7%	DOWN
Residential average price	$318,969	0.37%	DOWN
SFD² average selling price – month	$363,694	0.10%	DOWN
SFD² median³ selling price	$346,000	1.00%	DOWN
Condo average selling price	$237,601	0.00%	DOWN

1. Residential includes SFD, condos and duplex/row houses.
2. Single Family Dwelling
3. The middle figure in a list of all sales prices

///…CP

Posted in Market Statistics

“In Flanders Fields”

Craig Pilgrim — Sun, 01 Nov 2009 14:38:40 +0000

In Flanders fields the poppies blow
Between the crosses, row on row,
That mark our place; and in the sky
The larks, still bravely singing, fly Scarce heard amid the guns below.

We are the Dead.
Short days ago
We lived, felt dawn, saw sunset glow,
Loved, and were loved, and now we lie
In Flanders Fields.

Take up our quarrel with the foe:
To you from failing hands we throw
The torch; be yours to hold it high.
If ye break faith with us who die
We shall not sleep, though poppies grow
In Flanders Fields.

– John McCrae

Posted in Musings

Spruce Up Your Kitchen

Craig Pilgrim — Thu, 29 Oct 2009 14:32:12 +0000

Here’s another post taken from my ‘News You Can Use’ Preferred Client publication. ____________________________________________________________________________________

Home is where the heart is, and everyone knows the heart of a home is the kitchen. It should come as no surprise the kitchen is one of the most important considerations prospective buyers have in mind when evaluating a new home.

Lighten Up Older homes frequently suffer from low-light conditions, outdated or just plain ugly light fixtures, and power-hungry appliances. Replace unappealing bulbs and fixtures with energy-efficient bulbs and modern fixtures for an instant update that looks great and saves money. Invest in up-to-date appliances that improve performance and save money with energy-efficient settings, antibacterial wash modes, and enhanced water filtration.

Counter-Offer Replacing countertops and re-facing cabinets can be a relatively low-cost (compared to a complete kitchen overhaul) way to update your kitchen. If you don’t want to go that far, many hardwood cabinets can be easily restored with a coat of paint or a quick clean and varnish. Combine this with new countertops and you can achieve a totally refreshed appearance without the high price of a total kitchen renovation. Add some stylish knobs, pulls, and hinges to complete the look.

Don’t Throw Money Down The Drain Here’s a quick and easy do-it-yourself job that just about anyone can tackle. Replace that outdated and worn-out faucet with a shiny new fixture to instantly update your kitchen. It takes very little time, ensures a sleek new look, and eliminates drips, leaks, and other water-wasting problems.

Can You See Me Now? You shouldn’t be able to see your reflection staring back at you while you’re standing in your kitchen on a bright sunny day; that is unless of course you have tinted windows. Cleaning the inside and outside of your windows will let the natural light pour into your kitchen while improving the overall cleanliness and appearance of the room. Don’t forget to clean out the tracks and sills and vacuum the screens while you’re at it.