Parkland County Real Estate: Acreage Properties and Market Trends • 6 May 2023

Rural Parkland County House Sales Stats April -2023

by Christina Reid

April 2023 Real Estate Market for Parkland County

Bar Graphs Are Interactive

New Listings:

In April 2023, there were 117 new listings in Parkland County, which is a decrease of 26.88% compared to the same period in 2022.

Average Asking Price:

The average asking price for properties in Parkland County was $714,000, which is an increase of 33.03% compared to the same period in 2022.

A total of 40 properties were sold in Parkland County, which is a decrease of 45.21% compared to the same period in 2022.

Average Sale Price:

The average sale price for properties in Parkland County was $582,000, which is a 6.76% increase compared to the same period in 2022.

Days on Market Until Sale:

The average number of days a property remained on the market until it was sold was 80 down for 127 days on market last year.

High demand for properties in Parkland County has led to an increase in the average asking price and ask to sell ratio. We will continue to monitor the market trends and provide updates in our next monthly real estate market blog.

CLICK HERE FOR A PDF OF THE REPORT

Home Builder Events • 28 April 2023

Stunning Fully Finished Walkout Bungalow Open House: Win Oilers Tickets!

by Christina Reid

We are thrilled to invite you to our open house event on Saturday April 29, 2023 and Sunday April 302023, Noon-3pm! #14 & 18 8050 Orchards Gr SW, Edmonton

Not only will you have the chance to explore these stunning bungalows, but you’ll also have the opportunity to win a pair of tickets to an Edmonton Oilers game!

As you step into the front foyer, you’ll immediately notice the bright office area with French doors. The open concept living space with soaring ceilings and an electric fireplace creates a warm and inviting atmosphere. The spacious kitchen with a massive island and walk-in pantry is perfect for entertaining. Sliding glass doors that open onto an oversized rear deck provide the ideal space for outdoor gatherings.

The primary is a true retreat, featuring a spa-inspired ensuite bathroom and a walk-in closet. And with two additional bedrooms, a den, a full bathroom, and a large recreation room with another fireplace in the walkout basement, there is plenty of space for your family and guests.

This home also includes a double attached garage, a $5,000 appliance allowance, and professional landscaping. The condo fees that include Landscape/Snow Removal, Professional Management, and Reserve Fund Contribution.

Don’t miss out on this incredible opportunity to own a stunning award-winning luxury bungalow. Join us on April 29 & 30 for the open house event, and who knows, you might just be the lucky winner of the Edmonton Oilers tickets!

Edmonton Guidelines & Programs • 11 April 2023

Canadian Foreign Buyer Ban Amendment

by Christina Reid

Amendments to the Foreign Buyer Ban For Vacant Land March 27, 2023

Repealing existing provision so the prohibition doesn’t apply to vacant land.

We are repealing section 3(2) of the regulations, so the prohibition does not apply to all lands zoned for residential and mixed use. Vacant land zoned for residential and mixed use can now be purchased by non-Canadians and used for any purpose by the purchaser, including residential development.

Exception for development purposes.

This exception allows non-Canadians to purchase residential property for the purpose of development. The amendments also extend the exception currently applicable to publicly traded corporations under the Act, to publicly traded entities formed under the laws of Canada or a province and controlled by a non-Canadian.

CLICK HERE FOR MORE INFORMATION ON THE FOREIGN BUYER BAN FROM CMHC

If you’re looking for a piece of rural paradise just 20 minutes away from the bustling city of Sherwood Park, look no further than these two parcels of land side by side in Strathcona County. With one site measuring 17.07 acres and the other 18.29 acres, you’ll have plenty of space to build your dream home or pursue your business goals.

The best part? Property taxes are under $20 a year, making this an incredibly affordable option for anyone looking to invest in real estate. With the DC49 zoning, you’ll have a range of permitted uses to choose from, including single-group homes, minor home businesses, and family care facilities.

If you’re looking to run a bed and breakfast, this zoning allows for a discretionary use of up to four sleeping units, giving you plenty of flexibility to accommodate guests.

CLICK HERE FOR ZONING INFORMATION ON THESE PROPERTIES

CLICK HERE FOR THE BEAVER HILLS POLICY AREA PLAN

But perhaps the most exciting part of owning these two parcels of land is the opportunity to create your own slice of paradise. With plenty of open space and room to roam, you can design and build your dream home, complete with all the features you’ve always wanted. Imagine waking up to breathtaking views of the countryside, with the peace and quiet of rural living at your fingertips.

Of course, you’ll also enjoy all the benefits of being just 20 minutes away from Sherwood Park. Whether you’re looking for shopping, dining, or entertainment options, you’ll have easy access to all the amenities of city living. When you’re ready to escape the hustle and bustle, you can retreat back to your own piece of rural heaven.

These two parcels of land offer an incredible opportunity to invest in real estate, build your dream home, or start a business in a stunning rural location just minutes from the city. With the flexibility of the DC49 zoning, the low property taxes, and the endless potential for customization and growth, this is a rare opportunity that’s not to be missed.

Parkland County Real Estate: Acreage Properties and Market Trends • 4 April 2023

Rural Parkland County Sales Stats Q1-2023

by Christina Reid

Rural Parkland County, has experienced some interesting market trends in the first quarter of 2022 compared to the first quarter of 2023. While some metrics have decreased, others have increased, resulting in an overall mixed market.

In the first quarter of 2022, the total number of new listings was 255, which has decreased by 5.49% in the first quarter of 2023. This decrease indicates that fewer properties were put up for sale in the first quarter of 2023 than in the same period the previous year.

Despite this decrease, the average list price in the first quarter of 2023 has increased by 0.34% compared to the first quarter of 2022. In the first quarter of 2022, the average list price was $593K, while in the first quarter of 2023, it was slightly higher at $595K. This increase indicates that sellers are still able to command higher prices for their properties despite the decrease in new listings.

The total cost of inventory in the first quarter of 2023 has decreased by 5.17% compared to the first quarter of 2022. This decrease indicates that the overall value of properties available for sale in the first quarter of 2023 was lower than in the same period the previous year.

In terms of sales, the total number of sales in the first quarter of 2023 has decreased by 38.85% compared to the first quarter of 2022. In the first quarter of 2022, there were 157 sales, while in the first quarter of 2023, there were only 96 sales. This decrease in sales may be due to the overall decrease in new listings, which means there were fewer properties available for purchase.

Furthermore, the average sale price in the first quarter of 2023 has decreased by 12.30% compared to the first quarter of 2022. In the first quarter of 2022, the average sale price was $549K, while in the first quarter of 2023, it had dropped to $481K. This decrease in average sale price may be due to a decrease in demand or an increase in the availability of lower-priced properties.

The average asking to selling ratio in the first quarter of 2023 has also decreased by 2.39% compared to the first quarter of 2022. In the first quarter of 2022, the average asking to selling ratio was 0.979, while in the first quarter of 2023, it had dropped to 0.956. This decrease in ratio may indicate that sellers are becoming more flexible with their asking prices to secure a sale.

However, the average days on market in the first quarter of 2023 has decreased by 30.32% compared to the first quarter of 2022. In the first quarter of 2022, the average days on market was 155, while in the first quarter of 2023, it had dropped to 108. This decrease in days on market may indicate that properties are selling faster than before, despite the decrease in sales.

Finally, the total volume of sales in the first quarter of 2023 has decreased by 46.38% compared to the first quarter of 2022. In the first quarter of 2022, the total volume of sales was $86.2M, while in the first quarter of 2023, it had dropped to $46.3M. This decrease in volume may be due to a combination of the decrease in sales and the decrease in average sale price.

The Rural Parkland County real estate market has seen mixed trends in the first quarter of 2023 compared to the first quarter of last year. Make sure to hire a knowledgeable REALTOR® when buying or selling.

CLICK HERE TO VIEW FULL REPORT

Spruce Grove Real Estate: Market Trends and Investment Opportunities • 4 April 2023

Spruce Grove Home Sale Trends Q1-2023

by Christina Reid

Real estate is a dynamic market that can shift quickly. In Spruce Grove, the first quarter of 2023 saw changes in various aspects of the real estate market.

In the first quarter of 2022, there were a total of 208 new listings. Fast forward to the first quarter of 2023, the total number of new listings has increased by 8.65% to 226.

The average list price in the first quarter of 2022 was $482,000. In the first quarter of 2023, the average list price increased by 0.61% to $485,000. This may suggest an increasing demand for homes in Spruce Grove, resulting in a slight increase in the average list price.

The total cost of inventory in the first quarter of 2022 was $100 million. By the first quarter of 2023, the total cost of inventory has increased by 9.31% to $109.3 million. This increase indicates a growth in the value of homes for sale in Spruce Grove.

In the first quarter of 2022, a total of 175 homes were sold. However, in the first quarter of 2023, the total number of sales has decreased by 36.57% to 111.

The average sale price in the first quarter of 2022 was $456,000. In the first quarter of 2023, the average sale price has decreased by 6.12% to $428,000. This decrease may reflect a more competitive market, where sellers are adjusting their asking price to attract potential buyers.

In the first quarter of 2022, the average asking to selling ratio was 0.993. By the first quarter of 2023, the average asking to selling ratio has decreased by 0.87% to 0.985. This decrease indicates that buyers are paying closer to the asking price of homes for sale in Spruce Grove.

The average days on market in the first quarter of 2022 was 51. In the first quarter of 2023, the average days on market has increased by 35.29% to 69. This increase suggests that homes for sale are taking longer to sell, perhaps due to the decreasing demand.

In the first quarter of 2022, the total volume of sales was $79.7 million. In the first quarter of 2023, the total volume of sales has decreased by 40.45% to $47.5 million. This decrease indicates a slower market, with fewer homes sold at a lower average price.

In conclusion, the first quarter of 2023 in Spruce Grove saw some changes in the real estate market compared to the same period in 2022. While there was an increase in the number of new listings and the total cost of inventory, there was a decrease in the total number of sales, the average sale price, and the total volume of sales. With the ongoing pandemic and changing buyer preferences, the real estate market in Spruce Grove may continue to fluctuate, and it’s essential to keep track of the latest trends and developments in the market.

CLICK HERE FOR THE FULL REPORT

Stony Plain Real Estate: Market Trends and Investment Opportunities • 4 April 2023

Real Estate Market Report for Stony Plain AB in Q1 2023

by Christina Reid

Real Estate Market Report for Stony Plain AB in Q1 2023

The real estate market in Stony Plain AB has experienced some significant changes in the first quarter of 2023. Let’s take a closer look at the data and see what it means for buyers and sellers.

Average Days on Market (DOM)

One of the key metrics in the real estate market is the average days on market (DOM), which represents the amount of time it takes for a property to sell. In the first quarter of 2022, the average DOM was 55 days. However, in the first quarter of 2023, the average DOM has increased to 96 days, which represents an increase of 74.55%.

Average List Price

The average list price is another important metric to consider when analyzing the real estate market. In the first quarter of 2023, the average list price was $482K, representing a decrease of 3.85% compared to the same period in 2022 when it was $501K. This decrease in the average list price can be attributed to changes in market conditions and increased competition among sellers.

Total Inventory Cost

The total cost of inventory is also an important to consider when analyzing the real estate market. In the first quarter of 2023, the total inventory cost was $40.0M, representing a decrease of 3.85% compared to the same period in 2022 when it was $41.6M. This decrease can be attributed to a decrease in the number of sales and a decrease in the average list price.

Total Sales

The total number of sales in the first quarter of 2023, there were a total of 56 sales, representing a decrease of 29.11% compared to the same period in 2022 when there were 79 sales.

Sales Average Price

The average sale price is another important metric to consider when analyzing the real estate market. In the first quarter of 2023, the average sale price was $441K, representing a decrease of 1.94% compared to the same period in 2022 when it was $450K.

Average LSR

The average asking to selling ratio (LSR) is a metric that represents the percentage of the asking price that a property sells for. In the first quarter of 2023, the average LSR was 0.977, representing a decrease of 1.13% compared to the same period in 2022 when it was 0.988. This decrease in the average LSR can be attributed to changes in market conditions and increased competition among sellers.

In summary, the real estate market in Stony Plain AB has experienced some significant changes in the first quarter of 2023. The average days on market has increased significantly, while the total sales volume, total inventory cost, and the average list price have all decreased. These trends suggest that buyers have more bargaining power and sellers may need to adjust their pricing and marketing strategies accordingly.

If you are interested in buying or selling a property in Stony Plain AB, it is important to work with a qualified real estate professional.

CLICK HERE TO VIEW FULL REPORT

Edmonton Real Estate Market Trends and Insights • 3 April 2023

Edmonton Home Sales Trends Q1-2023

by Christina Reid

The Edmonton real estate market has had some interesting changes over last year! Let’s take a closer look at the first quarter of 2022 and compare it to the first quarter of 2023.

Total Listings: In the first quarter of 2022, we had 7,337 new listings. But in the first quarter of 2023, that number has dropped by 16.91%, meaning there were only 6,096 new listings this year.

Average List Price: In 2022, the average list price was $421K. But in 2023, that number has increased by 4.85%, making the average list price now $442K. So, if you’re thinking about selling, be certain to price properly.

Sales Average Price: The average sale price has decreased by 11.70%, meaning properties are selling for less this year. $356k vs $403K in Q1-2022

Total Sales: In 2022, there were 5,030 properties sold in the first quarter. But in 2023, that number has decreased by 41.39%, meaning there were only 2,948 properties sold this year.

Total Inventory Cost: In the first quarter of 2022, the total cost of inventory was $3.09B. However, in the first quarter of 2023, that number has decreased by 12.88%, bringing the total cost down to $2.69B.

Average DOM (days on market): In the first quarter of 2022, properties were flying off the shelves with an average DOM of just 68 days. However, in the first quarter of 2023, things have slowed down a bit with an average DOM of 96 days. That’s a 41.18% increase in the time it takes to sell a property! So, if you’re a seller, be prepared to have a little more patience while waiting for your property to sell.

Total Sales Volume Metric: In the first quarter of 2022, the market was on fire with a total sales volume of $2.03B. However, in the first quarter of 2023, the total sales volume has cooled down significantly, with a total volume of $1.05B.

Average LSR: The average asking to selling ratio has also decreased by 2.29%, which means buyers are getting slightly better deals.

There you have it! The Edmonton real estate market has certainly seen some changes since last year. No matter what the market looks like, I’m here to help you navigate it with expert advice and assistance.

CLICK HERE FOR THE FULL REPORT

Edmonton Real Estate Market Trends and Insights • 3 April 2023

Edmonton Detached Single Family Home Sales Q1-2023

by Christina Reid

If you are considering buying or selling a detached single family home in Edmonton, it’s important to stay up-to-date on the latest market trends and statistics. The first quarter of 2023 has brought some changes to the market, with decreases in new listings, sales, and total volume of sales, as well as an increase in the average days on market. However, the average list price has increased slightly.

New Listings: In the first quarter of 2022, there were 3,641 new listings for detached single family homes in Edmonton. However, in the first quarter of 2023, this number has decreased by 11.97% to 3,205 new listings. This means that there are fewer homes available on the market, which may lead to more competition among buyers.

Average List Price: Despite the decrease in new listings, the average list price for detached single family homes in Edmonton has increased slightly. In the first quarter of 2022, the average list price was $554K, and in the first quarter of 2023, it has increased by 2.21% to $566K. This indicates that the market is still strong, and that sellers may be able to ask for higher prices.

Total Cost of Inventory: The total cost of inventory for detached single family homes in Edmonton has decreased by 10.03% from the first quarter of 2022 to the first quarter of 2023. In the first quarter of 2022, the total cost of inventory was $2.02B, while in the first quarter of 2023, it has decreased to $1.82B. This means that there is less money tied up in inventory, which may be a good sign for sellers.

Total Number of Sales: The total number of sales for detached single family homes in Edmonton has decreased by 47.37% from the first quarter of 2022 to the first quarter of 2023. In the first quarter of 2022, there were 2,873 sales, while in the first quarter of 2023, there were only 1,512 sales. This indicates that the market has slowed down, and that buyers may have more negotiating power.

Average Sale Price: The average sale price for detached single family homes in Edmonton has also decreased slightly. In the first quarter of 2022, the average sale price was $495K, and in the first quarter of 2023, it has decreased by 6.69% to $461K. This may be due to the decrease in sales and the increase in days on market.

Average Asking to Selling Ratio: The average asking to selling ratio for detached single family homes in Edmonton has decreased by 2.52% from the first quarter of 2022 to the first quarter of 2023. In the first quarter of 2022, the average asking to selling ratio was 0.997, while in the first quarter of 2023, it has decreased to 0.972. This indicates that sellers may be accepting lower offers than they were in the past.

Average Days on Market: The average days on market for detached single family homes in Edmonton has increased significantly. In the first quarter of 2022, the average days on market was 56, while in the first quarter of 2023, it has increased by 62.50% to 91 days. This means that homes are taking longer to sell.

Total Volume of Sales: Finally, the total volume of sales for detached single family homes in Edmonton has decreased by 50.89% from the first quarter at $1.42B in 2022.

CLICK HERE TO DOWNLOAD THE FULL REPORT

Edmonton Neighbourhoods • 11 March 2023

Exploring Edgemont: A Family-Friendly Neighbourhood in Edmonton, AB

by Christina Reid

Edgemont is a beautiful and family-friendly neighbourhood located in the west end of Edmonton, AB. This neighbourhood is relatively new, as development began in the early 2000s, but it has already become one of the most sought-after places to live in the city. Here are some reasons why Edgemont is a great place to call home.

Beautiful Scenery

Edgemont is nestled in a picturesque setting that is sure to impress any nature lover. The neighbourhood is surrounded by lush greenery, scenic parks, and plenty of walking and cycling trails. The Wedgewood Ravine is also located nearby, providing a serene natural retreat right in the heart of the neighbourhood.

Excellent Amenities

Residents of Edgemont enjoy access to a wide range of amenities, including schools, shopping centres, healthcare facilities, and recreational facilities. The neighbourhood is located near the West Edmonton Mall, one of the largest shopping centres in North America. There are also several parks and playgrounds in the area, making it an ideal place for families with young children.

Housing

Edgemont offers housing options for families and individuals of all income levels. The neighbourhood features a mix of housing types, including single-family homes, townhouses, and condominiums, making it a diverse and inclusive community.

Vibrant Community

Edgemont is a tight-knit community that values social interaction and neighbourhood involvement. There are several community events and activities held throughout the year. This creates a sense of belonging and fosters a strong community spirit among residents.

Accessible Location

Edgemont is conveniently located near major transportation routes, including Anthony Henday Drive and Whitemud Drive, making it easy to travel around the city. The neighbourhood is also located close to the Edmonton International Airport, making it an ideal location for frequent travellers.

Edgemont is a charming neighbourhood in Edmonton, AB, that offers a wide range of amenities and affordable housing options. Its beautiful scenery, vibrant community, and accessible location make it an ideal place to call home for families, young professionals, and retirees alike.

Edmonton Neighbourhoods • 11 March 2023

The Top Reasons to Consider Paisley as Your Next Edmonton Neighbourhood

by Christina Reid

Paisley Edmonton Homes For Sale, Paisley Edmonton MLS®, Paisley Edmonton REALTOR Chris Reid, chrisreidedmonton.com, Paisley Edmonton Quick Possession Homes, Paisley Edmonton Real Estate, Paisley Edmonton New Construction Homes, Edmonton Home Builders, Southwest Edmonton Homes, Southwest Edmonton New Homes, Brookfield Residential Paisley,

Paisley Edmonton New Construction and Quick Possession Homes, Chris Reid Edmonton REALTOR®

Edmonton is a city with many attractive neighbourhoods, each with its own unique character and style. One such neighbourhood that has been gaining popularity among homebuyers and renters alike is Paisley. Located in southwest Edmonton, Paisley offers a perfect blend of urban amenities and peaceful suburban living. In this blog post, we’ll take a closer look at this charming neighbourhood and what makes it a great place to call home.

Location and Accessibility

Paisley is situated in the Heritage Valley area of southwest Edmonton, with easy access to major roads and highways. The neighbourhood is bordered by 141 Street to the west, Ellerslie Road to the north, 127 Street to the east, and the future extension of Paisley Road to the south. This location makes it easy for residents to travel to other parts of the city, including downtown Edmonton, which is about a 20-minute drive away.

Amenities and Services

Paisley has a variety of amenities and services that make it a desirable neighbourhood to live in. There are several shopping centres nearby, including Currents of Windermere, which is home to a variety of retailers and restaurants. There are also many parks and recreational areas in and around the neighbourhood, including the nearby Blackmud Creek Ravine, which offers scenic walking and biking trails.

Housing Options

Paisley has a range of housing options to suit different lifestyles and budgets. The neighbourhood features a mix of single-family homes, townhomes, and duplexes, many of which are new construction. The architecture in Paisley is inspired by the Arts and Crafts movement, with elements like gabled roofs, front porches, and decorative brackets. This gives the neighbourhood a charming, old-fashioned feel, while still offering modern amenities and conveniences.

Community Spirit

One of the standout features of Paisley is an off-leash dog park.

In conclusion, Paisley is a neighbourhood that offers a great balance of urban and suburban living. With its convenient location, diverse housing options, and strong sense of community, it’s no wonder why so many people are choosing to call this neighbourhood home. Whether you’re a first-time homebuyer, a growing family, or someone looking for a peaceful place to retire, Paisley has something to offer everyone.