Edmonton Area Real Estate so far in 2018
Hey, it's Taylor here. I had a great time in California, and now I'm just catching up a bit on the market trend as I come back from holidays.
So far this January we have 293 recorded sales which would mean a bit of a rally over the next couple of weeks to reach the five year average of about 780 sales in January.
- Given that the news has been Oil is up and so are interest rates, we may get some fire early this year.
- Rising interest rates will compel some people to act so we can expect a few more buyers than would be there otherwise over that 120 window where lenders lock rates.
We are already at 1120 listings for 2018 which is over half of the five year average for January so it looks like we’ll be closer to the that 2100 to 2300 new listings which has been more common over the last couple of years.
If rising oil prices feed consumer confidence, we experience positive net migration and interest rates rise it's going to be a rocking 2018 in real estate. As a seller, timing the spring market is based off the biggest group which is families with kids. This group tends to move based on the school year so you can game off them. List before May to find that lower competition space before that group enters to move during the break in the school year. Then, negotiate a 45-75 day possession to shop as the new inventory arrives to give you the most choice.
Also, you families that are upgrading, if the market lifts, it will be better to catch that momentum in the home you are upgrading to. You’ll make more money on owning the more expensive house appreciating with the market than you would your current property. If your sale and your purchase rise the same percentage, the gap becomes larger and the higher priced home outpaces the lower priced home. By the time you feel good about your sale price, that purchase price could be a lot to swallow.
- Forrest Heights is the hot neighbourhood so far this year with 7 sales.
- Bonnie Doone has the highest sale of $825,000
- 14 properties sold over list price so far in 2018.
Forest Heights is bounded on the northwest by the North Saskatchewan River valley, on the ...