Melody Kilbank

Anecdotally I’m busier this week than last month at this time, however prices don’t seem to reflect a spring market just yet.

City of Edmonton ONLY average price for all residential show a decline of 5.7% year over year and .5% month over month.

Average prices for houses have dropped by 5.8% year over year and 1.5% month over month. We are in a balanced market with 5.6 months of inventory.

As for condos the average price drop year over year is 11% and month over month is 5.9%. Buyers are able to dominate transactions with 8.5 months of inventory to choose from.

Duplex/Rowhouses also saw a drop of 3% year over year but a 1.7% increase month over month. They are also in a balanced position.

I have some exciting news to announce regarding a special offer for home buyers. Watch my FB page, email or mail within the next week or so! Learn how a buyer could win their mortgage payments for a year!

Call me for professional representation!

Well, February had record breaking cold temperatures, but the City of Edmonton`s real estate average prices warmed up!

The good news for February is month over month the average sale prices rose. For all residential sales it went up by 7.3%. Single Family Dwellings were up 7.8% and Condos were up 3.2%. Duplex and rowhouses remained almost the same softening by .3%.

Now the not so good news…year over year prices fell in each category. All residential is down 5%, single family 3.5%, condos 7%. Duplex and rowhouses are down 9.6% year over year.

More good news is inventory levels for all categories are also down. This means more product is being purchased. Houses and duplex/rowhouses are hovering on the brink of being in a balanced market to buyers market, but condos are still favoring buyers.

If you are in the market to buy, act now. Don’t wait for March prices to climb. Spring will be here soon. We are still in a very affordable market.

Also I have an exciting announcement for all potential buyers. A special incentive being offered by my brokerage. Watch your inbox for further information next week!

Call me for professional representation!

Ideally you should have a week or two available
before you list your property in order to stage
your home and make it look its best for buyers.
But, what if you listed quickly and within hours of
the For Sale sign going up a buyer wants to view
your property?

In that scenario, you need to do some quick
“staging” to get your home ready. Let’s assume
your property is already clean and tidy. Here are
some other things you can do.

• Open the curtains, even at night. This will
make each room seem brighter, more
appealing and more spacious.
• Pull out some boxes or storage bins. Put away
personal knick-knacks (like that bowling
trophy) and other personal items to reduce
clutter on shelves and countertops.
• Clear countertops in the kitchen and bathrooms.
Put the old toaster oven out-of-sight.
• Make sure lighting throughout the house is
bright and comfortable. In darker areas, plug
in a lamp.
• Clear away as much as you can in the foyer.
Make that space look open, uncluttered
and welcoming.
• Move cars out of the driveway. Give the buyer
a convenient place to park!
• Make the beds. Fluff pillows on sofas.
• Clear away as many items as possible from
the closet floors (such as shoes.)
• Open a window and air out the kitchen,
especially if you just finished cooking.
• Make sure your pet is in a crate or, if possible,
out for a walk. Not everyone loves pets.

These staging tips take only a few minutes each,
but can make a big difference in the impression
your home makes on a buyer.

Want more home selling advice? Call today.

As you may know, I build my business on repeat business and referrals. In 2018, 78.6% of my business was from your support! Thank you!

I focus a lot of my attention on providing the best client service I can. That service doesn’t end when the transaction is complete. It continues throughout the months and years in between your moves. In fact, that’s one of the main reasons I keep in touch with you with these informative updates.

City of Edmonton numbers for January 2019 is as cold as the weather! We are down in every product year over year and month over month. The only exception is condo average price was up 5.3% month over month. But you may recall condo averages before Christmas was very low so this bump up is bringing the average price back to where it was in November 2018. All categories are also in excess of 7 months of inventory as well. Check out a detailed video coming soon to your inbox.

Is there anything more I can be doing to be helpful? If so, please let me know. I welcome your call or email anytime.

If you – or a friend, colleague, family member or neighbour – ever need to talk to a real estate sales associate with the kind of commitment to client service that I strive to provide, I hope you’ll think of me.

I appreciate your support!

If you’re thinking ahead to your next dream home, the road you need to take to get there may seem confusing. Do you search for listings online? Drop by Open Houses on the weekends? Call the number on For Sale signs? Let’s break it all down! Here are the specific steps you need to take to ensure you find a home that fits your wants, needs and budget.
• Find out how much your current property will likely sell for on today’s market.
• Arrange for financing, so you know what you can afford. • Select neighbourhoods you’d love to live in. (That may involve some fun exploring!)
• Decide on the type of home you want to buy. (For example: detached, three-bedroom, etc.)
• Prioritize the property features you want most, so you can be flexible if a feature is missing from a home listed on the market that is otherwise ideal.
• View properties on the market that closely fit your criteria, particularly new listings that may not yet be posted online. (Tip: Arrange to be immediately notified of new listings that are a good fit for you.)
• When you find a home you want, make an offer designed to get the property — without overpaying.
• Negotiate until you secure the deal. This may involve counter-offers.
• If the negotiation is skillfully done and all goes well, the home is yours. As you can see, there isn’t a lot of mystery in finding your next dream home. You just need to take the steps and get the professional help you need along the way. Looking for a real estate agent that can get you to the finish line? Call today!

Welcome to the new year. I hope 2019 is a wonderful year for you and your family.

December 2018 statistics for the City of Edmonton continue to surprise us. All residential sales were up 2.7% on average year over year and 2% month over month. All product categories are still favoring buyers.

Single family dwellings are up 4.3% year over year and 2.2% November over December. Condominiums are down 15.1% December 2017 over 2018 and down 6.3% month over month. Duplex/Rowhouses are up 1.3% year over year and up only a marginal .3% month over month.

Annual averages have softened in every category as well. All residential is down 1.6%; Single family dwellings down .7%; Condominiums down 5.4% and Duplex/Rowhouse is down 2.4%.

Over the next weeks you will likely be hearing lots of forecasting for 2019. I’ll have a special report next week on the REALTORS(R) Association of Edmonton’s predictions.

No matter what the market, people still need to buy and sell. The greatest opportunities are for the those wanting to upbuy.

Call me for professional representation.

November 2018 stats for the City of Edmonton are looking a little “slushy”! Our market continues to soften.

Although our inventory numbers are decreasing, it is not only from sales, but from expired listings. We are now 6 months into a Buyers Market. Single family dwelling average price took a hit year over year by 5.3% and month over month 2.1%. This is now the second month running of a buyer’s market in this product.

Condos continue to slide downward, year over year 7.3% but month over month .2% which caused the product to remain flat. Still a strong buyer’s market at 8.7 months worth of inventory.

Duplex/Rowhouses were showing some promise with a 2.7% increase month over month, but tempered by a 2.8% decrease year over year. This category is also favoring buyers with 6.5 months of inventory.

So now is the time to BUY!

Wishing you and yours a very MERRY CHRISTMAS and a SUCCESSFUL 2019!!

Well, the data coming out from the REALTORS(R) Association of Edmonton is looking pretty grim for the month of October 2018!! The good news is, the City of Edmonton ONLY statistics aren’t as bad. But they aren’t great either.

All residential sales were down 4% year over year and down 4.6% month over month. There are 7.3 months of inventory which favors buyers.

Single family dwellings were down 1.4% year over year and down .3% month over month with 6.5 months of inventory. This is the first month in the past year or more the inventory has passed 6 months. Now we are clearly in a buyers market for houses in Edmonton.

Condominiums have had a drastic drop to 10.2% year over year and 10.3% month over month. They continue to have over 8 months of inventory.

Duplex/Rowhouses are up .4% year over year. This is the only stat that showed the upward trend this month. But down 3.8% month over month. The inventory has tipped the scales to 8 months which for the first time in over a year has the buyers at the advantage to purchase this kind of product.

With pending threats of rising interest rates, if you know someone who is wanting to purchase they need to lock in their rate with their lender and take advantage of the soft condo market.

Call me with your referrals or for professional representation. I’m here to help.

“The overall real estate market is softening as the summer selling season begins to slow,” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “Average prices are decreasing and that may continue in the rest of the year due to the high inventory levels.

City of Edmonton average price fell .6% month over month and 2.9% year over year. Single Family dwellings dropped 1.1% but stayed the same month over month. And condos dropped 7.3% year over year and were up 4.5% month over month. Duplex/Rowhouses showed a .1% increase year over year but a 2.5% drop month over month.

Inventory levels are in a balanced market position with the exception of condos which are favoring buyers with over 8 months of inventory.

This is now the second month in a row prices have decreased month/month and year over year. Only time will tell if this is just a seasonal softening or if it will be realized for the near future.

Whether you are looking to buy or sell, call me for professional representation.

Check out my video for the June 2018 Market Report for the City of Edmonton.