Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Jan. 4, 2024

December 2023 Edmonton Market Stats


Edmonton, January 3, 2024: In December 2023, 1,229 homes were sold in the Greater Edmonton Area (GEA) real estate market. This was a 24.4% decrease from November 2023 but a 25.2% increase from December 2022. New home listings were 1,497, which is 28.3% lower than November 2023 but 27% higher than December 2022. The overall number of homes available in the GEA decreased by 6.7% from December of the previous year and 15.2% from November 2023.

For December, 701 detached homes were sold, a 24.4% decrease from November 2023 but a 22.6% increase from the previous year. Semi-detached home sales decreased by 16.7% from the previous month but increased by 42.9% from December 2022. Row/townhouse unit sales were down 19.2% from November 2023 but up 44.0% year-over-year. Apartment condominium sales decreased by 33.7% from last month and increased by only 9.6% compared to December 2022.

The average price for all residential properties was $388,637, a 2.0% increase from November 2023 and a 3.5% increase from December 2022. Detached homes averaged $489,392, a 3.8% year-over-year increase and a 2.2% increase from November 2023. Semi-detached homes sold for an average of $364,115, showing a 1.6% increase year-over-year and a 0.5% increase from the previous month. Row/townhouse prices were down 4.0% from November 2023 but increased by 9.9% compared to December 2022, selling at an average of $260,959. Apartment condominium average prices were $170,408, showing decreases of 0.4% from last month and 5.2% from last year.

The MLS® Home Price Index (HPI) composite benchmark price in the GEA was $435,000, a 0.7% increase from November 2023 and a 3.5% increase from December 2022.

Melanie Boles, the 2023 Board Chair of the REALTORS® Association of Edmonton, mentioned, “December's numbers are higher than in 2022, but the overall activity this year hasn't matched the previous year. The year-to-date average selling price is $398,735, compared with $415,115 in 2022, and year-to-date average unit sales are still behind by 8%.”

Detached homes averaged 53 days on the market, increasing seven days from November 2023. Semi-detached homes averaged 41 days on the market, an increase of two days from the previous month, while row/townhouses’ days on the market increased to 52, a difference of eight days. Apartment condominiums averaged 56 days on the market, showing a two-day increase from November 2023. Overall, all residential listings averaged 52 days on the market, a month-over-month increase of 3 days and a six-day decrease when compared to December 2022.

Posted in Market Updates
March 12, 2023

Manage Moving & Running Your Business

Image: Pexels

How to Manage Moving and Running Your Business at the Same Time

Starting a business is hard enough, but when you factor in the added stress of moving at the same time, it can seem like an impossible task. However, with the right tips and tricks, you can make this transition smooth and successful. Here’s a list of things to consider when starting a business while moving.

 

When you’re ready to find the perfect Edmonton-area home, start your search with Rojek Realty!

Research Locations

When searching for a new home while starting a business, consider your needs and wants. Do research on different areas and consider your budget and the current state of the real estate market, keeping in mind that you can expect to pay more in a seller’s market. Also, think about what type of environment best suits your business — is it important that you be close to other businesses, or do you need more space?

Find an Experienced Realtor

Finding a good realtor is essential when you are buying or selling a home. An expert realtor from the Rojek Realty team will have extensive knowledge of the local housing market, be knowledgeable in areas such as pricing and negotiation, and be able to work within your budget. Overall, working with an experienced realtor is key for ensuring a smooth transition into home ownership or investment.

Stay Organized and Manage Documents

When starting a business and moving at the same time, organization is key. Digitizing documents is one way to keep things organized during this busy time. You’ll be able to store all files related to both processes in one place and help ensure nothing gets lost during this hectic transition.

Choose a Business Structure for Your Company

Choosing the right business structure is a critical decision for entrepreneurs in Canada. Depending on your situation, there are four main types of business structures to choose from: sole proprietorship, partnership, corporation, and cooperative. Each type of business comes with its own advantages and disadvantages and requires careful consideration before making a choice. Factors such as current and projected profits, taxes to be paid, management style, risk tolerance, liabilities, and legal implications all need to be taken into account when selecting the best option for your particular situation.

Inform Clients of the Move

Keeping customers up-to-date is essential for businesses to maintain and build customer trust. Changes in contact details, business location, or services should be communicated clearly and promptly. This helps customers understand the company's vision and reinforces their confidence in the business, which leads to long-term success.

Update Your Website and Social Media Pages

Keeping your contact information up-to-date on all of your company's online platforms is essential for customer satisfaction. Customers want to be aware of any changes, so it is important to update your website and social media pages regularly. This helps customers stay informed, saving them time and hassle when trying to get in touch with your business.

 

Moving while starting a business can be an intimidating endeavor. However, if done correctly, it can lead to significant benefits further down the line. To make sure all bases are covered, it is important to prepare before making any big decisions. Buy a suitable home and take steps like choosing a business structure and updating your website. These best practices should help anyone feel more at ease about successfully starting their own businesses while moving.

Posted in Moving Tips
July 31, 2017

Curious About Local Real Estate?

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates