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St. Albert Real Estate Market Trends and Investment Opportunities 4 December 2024

St. Albert Market Statistics – Home Sales November 2024

St. Albert Market Statistics – Home Sales November 2024 : St. Albert, known for its vibrant community and appealing lifestyle options, continues to be a sought-after location for homebuyers in the Edmonton area. The real estate market in St. Albert has shown significant growth and resilience throughout 2024, reflecting a dynamic interplay of demand and supply that shapes local housing trends. This blog provides an in-depth analysis of the St. Albert real estate market as of November 2024, highlighting key statistics and year-to-date changes.

Overview of Market Activity

As of November 2024, the St. Albert real estate market has exhibited notable trends that signify a healthy and active market. The following sections detail the sales performance, price fluctuations, and other pertinent metrics that define the current market landscape.

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St. Albert New Listing Count

The number of new listings in November 2024 was 82, reflecting a decrease of 26.79% compared to the same period last year. The year-to-date figures mirror this trend, with 1800 new listings in 2024 versus 1807 in 2023, a marginal decrease of 0.39%.

St. Albert Real Estate- Average List Price

The average asking price in St. Albert as of November 2024 stood at $584,000, showing a slight decrease of 1.60% from the previous year. 

St. Albert Market Statistics Home Sales

In November 2024, St. Albert saw a total of 95 properties sold, marking a 3.26% increase compared to November 2023. This monthly performance contributes to a robust year-to-date figure, with a total of 1427 properties sold in 2024, up by a substantial 23.23% from 1158 in 2023. This surge in sales volume indicates a strong buyer interest and a healthy turnover in the housing stock, reflecting consumer confidence and a growing population seeking residence in St. Albert.

St. Albert Average Sale Price of Homes

For November, the average sale price was $519,000, a significant increase of 14.84% from November 2023. When looking at the year-to-date data, the average sale price climbed to $498,000 in 2024, up 9.18% from $456,000 in 2023. These statistics indicate that while sellers might be adjusting their expectations slightly downwards, buyers are willing to invest more, driven perhaps by quality improvements or competition for desirable properties.

Average ask-to-sell ratio in St. Albert as of November 2024 was 0.992, up by 1.85% from the previous year, reflecting tighter negotiations between buyers and sellers. The year-to-date data for 2024 shows an average ratio of 0.997, compared to 0.981 in 2023, a rise of 1.60%. This trend suggests that sellers are achieving sales very close to their asking prices, indicative of a seller’s market where demand aligns closely with supply.

St. Albert Housing Market Days on MLS®

The days on market until sale in November averaged 63 days, showing an increase of 12.50% from last year. However, the year-to-date figures present a faster market, with properties taking an average of 49 days to sell in 2024, improving by 19.67% from 61 days in 2023. This indicates a quicker turnover rate for properties, suggesting an efficient market where well-priced homes move faster.

Several factors contribute to the robust dynamics of the St. Albert real estate market. The city’s appeal as a family-friendly community with excellent schools, abundant green spaces, and high-quality municipal services makes it a top choice for prospective homebuyers. Economic stability in the region, coupled with competitive mortgage rates and a diverse housing stock, supports sustained growth in the housing sector.

Looking ahead, the St. Albert real estate market is poised for continued growth. The consistent increase in property values and sales volumes is expected to persist, driven by ongoing residential developments and enhancements in local infrastructure. Prospective buyers and investors should consider these trends when making decisions, as the market shows promising signs for both short-term gains and long-term investments.

Conclusion

The St. Albert market statistics demonstrate significant growth and resilience throughout 2024. With an increase in sold properties and a steady rise in average sale prices, the market conditions favour both sellers and buyers looking for valuable opportunities. As St. Albert continues to develop and attract residents, the real estate market is expected to remain vibrant and dynamic, offering numerous opportunities for those looking to invest in a thriving community.

Data provided by the REALTORS® Association of Edmonton and subject to change. Always consult with a real estate professional for the most current market information. 

Interested in buying or selling in the St. Albert real estate market CONTACT CHRIS REID

St. Albert Website

Parkland County Real Estate: Acreage Properties and Market Trends 4 December 2024

Parkland County Real Estate Acreage Sales Statistics November 2024

Parkland County Real Estate: A Year of Strong Growth and Optimistic Projections

As we close out another successful year in the Parkland County real estate market, it’s important to reflect on the trends, data, and insights that have shaped acreage sales over the past twelve months. The year 2024 has shown remarkable growth in the sale of properties in this area, painting a picture of a robust market with increasing buyer interest and rising property values. This analysis will delve into the specifics of these trends, providing a comprehensive overview of what has happened and what to expect in the future.

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Parkland County Acreage Listings

57 New listings came to market in November a 29.5% increase over same time last year. Year to date listings are down only 24 from 2023.

 Parkland County Average List Price

One of the most noteworthy trends in Parkland County’s real estate market this year has been the substantial rise in property values. The average asking price for acreages shot up by an impressive 50.87% to $831,000, up from $715,000 the previous year. This sharp increase is reflective of the high demand for spacious, rural properties—an appeal that has grown exponentially in the wake of urban congestion and the seeking of more serene, spacious living environments.

 

Parkland County Acreage Sales

Parkland County has witnessed a substantial increase in both the number of properties sold and their respective selling prices. A total of 602 properties were sold this year, marking a significant 15.99% increase compared to the 519 properties sold in 2023. This spike in sales volume is a clear indicator of heightened market activity and growing buyer confidence.

In November 2024 alone, there were 49 sold properties, a dramatic 40.00% increase from November 2023. This surge is part of a larger trend observed throughout the year and can be attributed to several factors, including increased marketing efforts, more competitive pricing strategies, and a general uptick in the economy which has bolstered consumer confidence.

Parkland County Acreage Average Sale Price

The average sale price saw a robust increase, climbing to $638,000, which is a 20.39% increase from the previous year’s average of $596,000. These figures underscore the strong investment potential of Parkland County’s acreage properties, with both sellers and buyers seeing significant returns and value appreciation, respectively.

The Average Ask to Sell Ratio, an indicator of how close the final selling price is to the listed asking price, stood at 96.8% for the year. This high ratio is a strong indicator of a seller’s market, where bidding wars and competitive pricing strategies often result in sales prices very close to, or sometimes even above, the asking prices.

Parkland County Acreage Days on Market

The average number of days that properties stayed on the market before being sold was 112 days in 2024, slightly up by 4.67% from 2023. While this might suggest a slight cooling, it actually reflects a more stabilized market where buyers are willing to take the time to find their perfect match in a property, indicating healthy demand and a robust market.

The real estate market in Parkland County has experienced a year of strong growth and optimistic future projections. With an increase in the number of properties sold, a significant rise in property values, and a high sell-to-list ratio, the market dynamics indicate a healthy and thriving environment for both buyers and sellers. As we look forward to 2025, the trends suggest that this growth is not just a temporary spike, but rather a sustainable upward trajectory. For anyone considering investing in real estate, Parkland County presents a compelling opportunity, especially for those looking to buy acreage properties in a market that promises both tranquility and profitability.

Data provided by the REALTORS® Association of Edmonton and subject to change. Always consult with a real estate professional for the most current market information. 

 

If you would like more information on buying and selling in Parkland County CONTACT CHRIS REID

Parkland County Website

Edmonton Real Estate Market Trends and Insights 4 December 2024

November 2024 Edmonton Real Estate Market Statistics

The November 2024 Edmonton real estate landscape is continuing to evolve, offering both challenges and opportunities for buyers and sellers alike. The latest data for November 2024 highlights significant growth and shifts that are shaping the market dynamics. Here’s a comprehensive look at the current state of the Edmonton real estate market, backed by the most recent statistics.

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Edmonton New MLS® Listings

Despite the positive growth in sales and prices, the number of new listings in Edmonton has experienced a slight decline. November 2024 saw 1,600 new listings, marking a 2.14% decrease from the previous year. However, the overall number of listings YTD has grown by 6.27% to 27,000. This indicates that while the market is tight, there is still a reasonable influx of new properties to meet buyer demand.

Average List Price Edmonton Real Estate Market

The average asking price for homes in Edmonton has seen a steady increase, reaching $462,000 in November 2024, which is a 3.35% increase from the previous year. 

Home Sales In The Edmonton Real Estate Market

Robust Sales Growth Demonstrates Market Resilience

The number of properties sold in Edmonton saw a significant increase in November 2024, with 1,400 transactions recorded—a 15.88% rise compared to November 2023. This year-to-date (YTD) figures are even more impressive, with 19,300 properties sold, marking a 26.71% increase from the previous year. Such robust growth demonstrates the resilience of the Edmonton real estate market, signalling a strong buyer demand and a healthy economic backdrop.


 

Edmonton Average Home Sale Price 

Average sales prices have climbed to $412,000, reflecting a 13.45% increase compared to November 2023. Over the year, this trend has been consistent, with the YTD average sales price up by 8.25% from last year. These rising prices reflect a growing market and underscore the importance of timely decision-making for potential buyers.

The average ask to sell ratio in November 2024 stood at 0.980, showing a slight improvement of 1.05% over the previous year. This ratio has been steadily increasing, as evidenced by the YTD figure of 0.988, up 1.66% from 2023. This closer gap between asking and selling prices points to a market where buyers are willing to meet seller expectations, leading to quicker sales and less negotiation.

Edmonton Real Estate Market -Average Days 

How quickly a property sells is a crucial metric in gauging market health. In 2024, Edmonton has seen a favourable shift in days on market in November falling to 61.

The efficiency of the market has improved as properties are spending less time on the market. The average days on market until sale has decreased by 20.29%, dropping from 74 days in 2023 to 55 days in 2024. This faster turnover reflects a market where demand meets supply efficiently, benefiting sellers with quicker sales and buyers with a variety of choices.

Edmonton’s real estate market in November 2024 showcases a dynamic environment where both prices and sales volumes are on the rise. The decrease in days on market and a stable ask to sell ratio indicate a market that is becoming more efficient and competitive. For buyers, the market demands swift decisions and flexibility, while sellers can benefit from the increased willingness of buyers to meet asking prices.

For those looking to enter the Edmonton real estate market, the current trends suggest that now is a time of opportunity. Whether you’re buying or selling, staying informed and working with knowledgeable professionals can help navigate this vibrant market effectively.

Data provided by the REALTORS® Association of Edmonton and subject to change. Always consult with a real estate professional for the most current market information. 

Looking to buy or sell in Edmonton? CONTACT CHRIS REID


City of Edmonton Website

Spruce Grove Real Estate: Market Trends and Investment Opportunities 4 December 2024

Real Estate Market Statistics Spruce Grove November 2024

The real estate market statistics for Spruce Grove real estate market for November 2024 is one of the most dynamic markets in the Edmonton area. Whether you are a prospective homebuyer, a real estate investor, or simply keeping tabs on market trends, this update offers a comprehensive overview of key indicators that define the current state and future trajectory of Spruce Grove’s property landscape.

The Spruce Grove real estate market has exhibited remarkable growth over the past year, underscored by several positive trends across various metrics. Let’s delve into the specifics to better understand what these numbers mean for you.

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New MLS® Listing Count

While most indicators show positive growth, the number of new listings in November 2024 has seen a decline of 17.17% compared to the previous year, with only 82 new listings. This reduction could be a result of limited inventory, which is a common trend in thriving real estate markets. However, the year-to-date figures show a more stable scenario, with 1,472 new listings, up by 8.80% from 2023. This suggests that while monthly fluctuations occur, the overall listing activity remains healthy.

Average Listing Price in Spruce Grove

The average asking price in November 2024 stood at $485,000, up by 13.87% from the previous year. These figures illustrate a robust appreciation in property values, offering a lucrative opportunity for sellers and a crucial insight for buyers preparing to enter the market.

Spruce Grove Home Sales

One of the most significant indicators of the health of a real estate market is the number of properties sold. In Spruce Grove, the total number of sold properties reached 68 in November 2024, marking a 3.03% increase from the previous year. Year-to-date (YTD) figures are even more impressive, with 1,187 properties sold in 2024, which is a substantial 31.89% increase compared to 2023. This uptick in sales volume is a strong signal of growing buyer interest and an increasingly competitive market environment.

Real Estate Market Statistics Spruce Grove Average Home Sale Price

his increase is consistent with the trend observed in average sale prices, which saw a 23.20% rise to $444,000 in the same month, compared to November 2023. The year-to-date average sale price also rose to $427,000, reflecting a 9.80% increase from the previous year. 

The average ask-to-sell ratio in November 2024 was 0.989, showing a slight increase of 1.24% from the previous year. This ratio, which measures how close the final sale price is to the asking price, indicates that sellers are achieving nearly their full asking price, signifying a seller’s market where buyers are willing to meet the terms set by sellers.


Days on Market Until Sale

Another key aspect of market dynamics is the average number of days properties stay on the market before being sold. In Spruce Grove, homes are selling faster, with the average days on market until sale dropping to 62 days in November 2024, a reduction of 17.33% from 71 days in 2023. This decrease in days on market is indicative of a more fluid market where properties are moving quickly, often due to competitive bidding and high demand.

The real estate market statistics in Spruce Grove is characterized by robust growth, increasing property values, and a competitive environment that benefits both buyers and sellers. Whether you are looking to invest in residential properties, sell your home, or find a new place to call your own, understanding these trends can greatly assist in making informed decisions.

As we move towards 2025, the momentum seen in the Spruce Grove real estate market suggests continued opportunities for growth and investment. Prospective buyers should be prepared for a competitive market, and sellers can expect continued interest in their properties. 

For more information on buying or selling in Spruce Grove CONTACT CHRIS REID

Data provided by the REALTORS® Association of Edmonton and subject to change. Always consult with a real estate professional for the most current market information. 

City of Spruce Grove Website

Stony Plain Real Estate: Market Trends and Investment Opportunities 4 December 2024

Real Estate Stony Plain Sale Statistics- November 2024

Real Estate Stony Plain Statistics Market Update: November 2024 

The Stony Plain real estate market has shown robust growth and resilience throughout 2024, presenting a compelling narrative for both potential home buyers and investors. With its close proximity to Edmonton and its unique small-town charm, Stony Plain offers a mix of residential appeal and economic stability. Here, we delve deep into the market dynamics, analyzing year-to-date data, and projecting future trends.

 

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Stony Plain Real Estate – New MLS® Listings 

New listings in Stony Plain have also seen a positive trend, with 42 new properties hitting the market in 2024, up by 10.53% from 2023. The total number of new listings YTD reached 573, showing a modest increase of 4.37%. This growth in listings helps maintain a balance between buyer demand and available inventory, ensuring that the market does not tilt too heavily in favour of sellers and remains accessible for first-time buyers and investors.

Average Asking Price of Homes in Stony Plain

The average asking price for homes in Stony Plain has risen to $422,000 in 2024, which is a significant 28.76% increase from the previous year. This rise in asking prices indicates that homeowners are confident in the value of their properties and expect the market to sustain these valuations. Moreover, the historical data reveals a consistent growth in asking prices from $369,000 in 2023 to $405,000 in 2024, highlighting a stable appreciation in property values.

Stony Plain Home Sales

Stony Plain’s real estate market has experienced significant growth in 2024, with a noticeable increase in both the number of properties sold and the average sales prices. Year-to-date (YTD), the area saw 471 properties sold, marking a 28.34% increase compared to the previous year. This uptick in sales volume is indicative of a healthy demand, driven by the town’s attractive living conditions and strategic location.

Average Home Sale Price

The average selling price in November 2024 stood at $388,000, reflecting a substantial 26.93% increase from November 2023. The consistent rise in prices underscores a strong market where buyers are willing to invest more in their home purchases. This trend is supported by the YTD average sales price, which reached $379,000—a 9.03% rise from the previous year.

Ask-to-sell ratio in Stony Plain has slightly declined to 0.971 in 2024, down by 0.70% from the previous year. This slight dip might suggest that buyers are negotiating more aggressively amidst rising prices, yet the market remains predominantly seller-friendly, with most homes selling close to their asking price.

Average Days on Market

An important metric that reflects market health is the average days on market until sale, which stands at 62 days in 2024. This is a slight increase of 3.33% from the previous year. However, it is notably lower than the 66 days recorded in 2023, suggesting that while properties are taking slightly longer to sell this year, the overall pace of sales remains brisk, indicative of ongoing buyer interest and engagement.


The Stony Plain market is poised for continued growth, driven by its desirable location, growing community, and robust economic fundamentals. The data indicates a market that is gradually maturing, with sustainable growth in property values and sales volumes. For investors, Stony Plain offers a promising avenue for real estate investment, particularly in residential properties, given the steady increase in demand and property values.

For potential homebuyers, the market presents a variety of opportunities, from single-family homes to townhouses and condos, catering to different lifestyles and budgets. The town’s commitment to community development and quality of life makes it an attractive destination for families looking for a blend of suburban tranquility and urban accessibility.

In conclusion, the Stony Plain real estate market in 2024 has demonstrated significant growth and resilience. With its strong market fundamentals and continued demand, Stony Plain remains an appealing option for both real estate investors and prospective homeowners. As we look towards 2025, the market is expected to maintain its upward trajectory, reinforced by strategic developments and an influx of new residents attracted to its vibrant community and economic opportunities.

Data provided by the REALTORS® Association of Edmonton and subject to change. Always consult with a real estate professional for the most current market information. 

If you are considering buying or selling a home in Stony Plain or just want more information on the Stony Plain real estate market, CONTACT ME HERE.

Town of Stony Plain Website

Rural Strathcona County Real Estate: Market Trends and Investment Opportunities 4 December 2024

Strathcona County Acreage Sales in November 2024: A Thriving Market

The market of Strathcona County acreage sales has experienced a significant transformation. As we reflect on the data from November 2024, a clear picture emerges: an invigorated market that is swiftly adapting to the changing demands of home buyers and investors alike. This blog post delves into the nuances of Strathcona’s acreage sales, offering insights that are crucial for both potential buyers and current homeowners.

   

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Strathcona County -Acreage Listings

The influx of new listings in November 2024 increased by 52.94%, with 26 new properties hitting the market. This increase in inventory is a positive development, as it provides more options for buyers and helps stabilize prices in a dynamic market environment. Throughout the year, the total number of new listings rose by 14.64% to 603, ensuring a steady supply in response to growing demand.

Average Asking Price Trends

Average Acreage List Price

While the number of sales showed impressive growth, the pricing dynamics offer a mixed view. The average asking price for acreages saw a slight dip of 5.92%, settling at $938,000. Conversely, the year-to-date figures paint a more stable picture, with a modest increase of 2.47% from the previous year, bringing the average asking price to $908,000.

Strathcona County –Acreage Sales 

November 2024 marked a period of extraordinary growth in the number of properties sold in rural Strathcona, witnessing a staggering 150% increase compared to November 2023. The total properties sold throughout the year also rose by 30.36%, with 365 properties changing hands, up from 280 the previous year. This surge reflects a robust demand and a thriving market, underscoring the growing allure of spacious, rural living.

 

Acreage Average Sale Price

While the number of sales showed impressive growth, the pricing dynamics offer a mixed view. The average asking price for acreages saw a slight dip of 5.92%, settling at $938,000. Conversely, the year-to-date figures paint a more stable picture, with a modest increase of 2.47% from the previous year, bringing the average asking price to $908,000.

The average sale price in November 2024 stood at $714,000, marking an 8.78% decrease from November 2023. However, looking at the year-to-date data provides a reason for optimism, as the average sales price saw a 6.02% increase from the previous year, highlighting the long-term value retention and appreciation potential of properties in the area.

The ask-to-sell ratio, an indicator of how close the final sale price is to the listed price, stood at 0.974, improving by 4.23%. This suggests that properties are selling closer to their asking prices, a sign of a healthy market where buyers are willing to meet sellers’ valuations.


Strathcona Acreages Average Days on Market

The efficiency of the market has also improved, with properties spending less time on the market. The average number of days on market until sale was significantly reduced by 47.77%, with properties selling in about 82 days compared to 89 days in the previous year. This increase in market velocity indicates a higher turnover rate, facilitating quicker sales and benefiting both sellers and buyers.


A Year of Dynamic Change and Opportunities

As we analyze the Strathcona acreage sales market, it’s evident that 2024 has been a year of dynamic changes and significant opportunities. The substantial increase in sales volume, combined with the nuanced shifts in pricing and market efficiency, paints a picture of a vibrant and evolving market landscape.

For those considering an investment in the area, the current trends offer promising potential for both short-term gains and long-term prosperity. Rural Strathcona continues to attract a diverse array of buyers, drawn by its natural beauty, spacious properties, and the promise of a serene lifestyle away from urban hustle.

Conclusion

The acreage sales in Strathcona County reflect a robust and adaptable real estate market. With an increasing number of properties sold, a healthy pace of sales, and a market that continues to attract significant interest, the outlook for acreage sales in Strathcona is overwhelmingly positive. Whether you are a potential buyer looking to make a rural move or a seller considering listing your property, the current market conditions are ripe with opportunity.

As we look forward to 2025, the trends established in November 2024 will undoubtedly influence the market’s trajectory. With strategic planning, informed decision-making, and an understanding of the local market dynamics, stakeholders can look forward to a prosperous year in the Strathcona real estate market.

Data provided by the REALTORS® Association of Edmonton and subject to change. Always consult with a real estate professional for the most current market information. 

Looking to Buy or Sell Acreages in Strathcona County?

Whether you’re a buyer eager to find your perfect rural retreat or a seller ready to capitalize on this favourable market, I’m here to help. Reach out to explore available properties or to discuss your goals.

CONTACT ME HERE with your questions regarding Strathcona County Acreage Sales

Strathcona County Website

Edmonton New Home Builders - Trends and Market UpdatesEdmonton New Home Builders - Trends and Market UpdatesEdmonton New Home Builders - Trends and Market Updates 2 December 2024

Choose the Right Builder for Your New Home in Edmonton

Choose the right builder when planning to build your dream home in Edmonton. One of the most critical decisions you’ll face is choosing the right builder. A reputable and skilled builder can bring your vision to life, ensuring a smooth process and a quality outcome. But with so many options available, it can be challenging to determine who to trust with such an important project.

This guide will walk you through the key considerations and steps to help you choose the right builder for your new Edmonton home.

Why Choosing the Right Builder is Crucial

The builder you select will significantly impact your home’s quality, design, and construction timeline. A trustworthy builder ensures:

  • Structural Integrity: Your home meets all building codes and safety standards.
  • Customization: Your design preferences are incorporated effectively.
  • Timeliness: The project stays on schedule without unnecessary delays.
  • Budget Control: Costs remain within your planned budget.
  • Customer Experience: A stress-free and transparent building process.

In Edmonton’s booming housing market, where new home construction is a popular choice for buyers, finding a builder that aligns with your goals is critical. Let’s delve into the steps for choosing the best builder for your needs.

1. Identify Your Needs and Budget

Before reaching out to builders, clarify your requirements:

  • Type of Home: Are you building a single-family home, a townhouse, or a luxury estate?
  • Design Preferences: Do you want a custom-built home, semi-custom, or a pre-designed model?
  • Budget: Determine your financial limits, keeping in mind land costs, materials, and upgrades.

By defining these factors, you’ll narrow down your list to builders specializing in the type of home you want within your price range.

2. Research Edmonton Builders

Edmonton has a diverse range of home builders, from large companies to smaller custom firms. Start your search to choose the right builder by:

  • Checking Reviews: Look for online reviews on platforms like Google, Houzz, or the Better Business Bureau.
  • Asking for Recommendations: Talk to friends, family, or real estate professionals for trusted builder referrals.
  • Browsing Portfolios: Visit builders’ websites to view their completed projects and ensure their style aligns with yours.
  • Exploring Communities: Many Edmonton builders specialize in specific neighbourhoods. Drive through new home communities to observe quality and designs.

3. Verify Credentials and Experience

A professional builder should have proper credentials, a solid track record, and extensive experience in the Edmonton market. Key factors to check include:

  • Licensing and Insurance: Ensure the builder is licensed to operate in Alberta and carries adequate insurance.
  • Membership in Associations: Builders affiliated with organizations like the Canadian Home Builders’ Association (CHBA) demonstrate a commitment to industry standards.
  • Years in Business: Experienced builders are more likely to handle challenges effectively.
  • Warranty Coverage: Builders must provide a new home warranty under the Alberta New Home Buyer Protection Act, covering structural defects, materials, and labor.

4. Assess Communication and Transparency

Effective communication is essential for a smooth building experience. Evaluate the builder’s:

  • Responsiveness: Are they prompt in returning calls and emails?
  • Transparency: Do they provide clear and detailed contracts, estimates, and timelines?
  • Willingness to Listen: A good builder values your input and strives to meet your expectations.

Schedule consultations with potential builders and ask questions about their process, pricing, and how they handle unexpected challenges.

5. Visit Model Homes and Past Projects

Nothing beats seeing a builder’s work in person. Many Edmonton builders offer model homes or open houses, providing a firsthand look at their craftsmanship, design quality, and attention to detail. Pay attention to:

  • Finishes and materials used
  • Floor plan functionality
  • Quality of fixtures and fittings
  • Overall aesthetics and durability

6. Understand the Building Process

Every builder has a unique process, and understanding it will help you decide if they’re a good fit. Key elements to discuss include:

  • Design Options: What level of customization is available? Can you make changes to existing floor plans?
  • Timeline: How long will it take to complete your home, and what factors could delay progress?
  • Materials: Do they use high-quality, energy-efficient materials suitable for Edmonton’s climate?
  • Contractors: Are subcontractors hired, and how are they selected?

Builders who outline their process in detail demonstrate professionalism and commitment to transparency.

7. Compare Costs and Value

While cost is an essential factor, choosing a builder solely based on the lowest quote can be risky. Instead, focus on value for money by considering:

  • Included Features: Some builders may offer upgraded finishes, appliances, or energy-efficient features in their standard packages.
  • Potential Up-charges: Ask for a breakdown of upgrade costs and avoid surprises during construction.
  • Financing Options: Does the builder work with preferred lenders or offer financing incentives?

Request a detailed estimate and ensure all costs are clearly defined before signing a contract.

8. Check References

Speaking with past clients is one of the most effective ways to gauge a builder’s reliability and quality of work. Ask for references and inquire about:

  • Their overall experience with the builder
  • How issues were resolved during construction
  • Whether the home was completed on time and within budget
  • Their satisfaction with the final product

A builder with a solid reputation will have no hesitation in providing references.

9. Visit Job Sites

If possible, visit an active job site managed by the builder. This will give you insights into their construction practices, site organization, and attention to safety protocols. Well-maintained job sites often indicate professionalism and high standards.

10. Consider Long-Term Support

Your relationship with the builder doesn’t end when your home is completed. Consider their after-sales support, including:

  • Warranty Service: How efficiently do they address warranty claims?
  • Maintenance Guidance: Do they provide tips for maintaining your home?
  • Customer Support: Are they available to answer questions or provide assistance post-construction?

Builders committed to long-term customer satisfaction are worth prioritizing.

Choosing the right builder for your new Edmonton home is a significant decision that requires careful research and consideration. By following the steps outlined above, you’ll be well-equipped to find a builder who understands your needs, aligns with your budget, and delivers a high-quality home that you’ll cherish for years to come.

Remember, your home is one of the most significant investments you’ll ever make. Taking the time to select a reputable and experienced builder will ensure your dream home becomes a reality without unnecessary stress or complications.

Want to choose the right builder in the Edmonton area? Contact Chris Reid Edmonton REALTOR®

For more insights into Edmonton’s real estate market, follow me on Facebook, Instagram, and YouTube. Stay updated on the latest new build opportunities and exclusive deals!

Edmonton New Home Builders - Trends and Market Updates 29 November 2024

Purchasing New Construction Homes in Edmonton- Top 10 Benefits

Whether you’re a first-time buyer or looking to upgrade, purchasing new construction homes in Edmonton is a decision that comes with numerous advantages. Here are the top 10 benefits of choosing a new build home in this dynamic city. Edmonton is a thriving city with a real estate market that continues to grow, offering diverse housing options for potential homeowners. Among these options, new construction homes stand out for their modern features, energy efficiency, and customizability.

1. Modern Features and Design

New construction homes in Edmonton are designed with modern aesthetics and functionality in mind. Builders prioritize open-concept layouts, contemporary finishes, and cutting-edge architecture to meet the preferences of today’s buyers. Whether you want sleek kitchens, spacious living areas, or spa-like bathrooms, a new home has it all.

2. Energy Efficiency

Energy efficiency is one of the biggest draws of new builds. Homes constructed in the last few years are equipped with energy-saving features like advanced insulation, high-performance windows, and energy-efficient HVAC systems. These features not only reduce your environmental footprint but also cut down on utility bills.

3. Low Maintenance Requirements

Buying a new home means you won’t need to worry about immediate repairs or replacements. Everything from the roof to the plumbing and electrical systems is brand new, which significantly reduces maintenance costs in the first few years. This benefit is particularly appealing to busy professionals and families.

4. Customization Opportunities

One of the most exciting benefits of purchasing new construction homes is the ability to personalize your space. Builders in Edmonton often offer customizable options, allowing you to choose everything from flooring and cabinetry to countertops and paint colours. This level of customization ensures your home reflects your unique style and preferences.

5. Warranty Protection

All new builds come with a comprehensive warranty that covers structural elements, electrical systems, and more. In Alberta, the New Home Buyer Protection Act ensures that builders provide warranties for up to 10 years. This peace of mind is invaluable for homeowners, eliminating the stress of unexpected repair costs.

6. Smart Home Technology

New construction homes are often pre-wired for smart home systems, including security features, automated lighting, and climate control. These technologies not only make life more convenient but also increase the resale value of your property in the future.

7. Energy Rebates and Incentives

The Alberta government and local builders frequently offer incentives and rebates for energy-efficient homes. These programs can make purchasing a new construction home in Edmonton even more affordable. From solar panel rebates to energy-efficient appliance credits, there are financial perks for environmentally conscious buyers.

8. Prime Neighbourhoods

Many new construction homes are located in emerging neighbourhoods in Edmonton that boast excellent amenities. From parks and schools to shopping centres and public transit, these communities are designed for convenience and quality of life. Popular areas for new builds include Windermere, Keswick, and Chappelle Gardens.

9. Higher Resale Value

When it comes time to sell, new construction homes tend to have a higher resale value. Buyers are drawn to modern designs, energy-efficient features, and low-maintenance properties. Investing in a new build today can pay off in the future when you decide to move.

10. Builder Incentives and Promotions

Many Edmonton builders offer attractive incentives to buyers, such as free upgrades, discounted closing costs, or even no-interest payment plans for a set period. These promotions make it easier to afford a dream home with premium features.

Purchasing new construction homes in Edmonton is more than just a financial investment—it’s an investment in your lifestyle and future. With benefits ranging from energy efficiency and modern designs to customizable features and warranty protection, it’s easy to see why more buyers are choosing new builds. Whether you’re searching for a family-friendly neighbourhood or a trendy urban community, Edmonton’s real estate market has something to offer everyone.

Ready to find your dream home? Contact Chris Reid at Century 21 Leading to explore the latest new construction properties in Edmonton!

If you’re looking to learn more about new construction homes in Edmonton, follow me on Facebook, Instagram, or YouTube for expert insights and updates on the market.

Would you like additional content or a specific focus on certain neighbourhoods or builder promotions? Let me know!

Edmonton New Home Builders - Trends and Market Updates 25 November 2024

Purchasing New Construction Homes – A Buyer’s Guide

Embarking on the journey of purchasing new construction homes is both exciting and intricate. This comprehensive guide will walk you through each step, from selecting a builder to closing the deal, ensuring you’re well-prepared to make informed decisions.

1. Assess Your Financial Readiness

Before diving into the home-buying process, it’s crucial to evaluate your financial situation:

  • Budgeting: Determine how much you can afford by analyzing your income, expenses, and savings. Consider using online mortgage calculators to estimate monthly payments.
  • Credit Score: A higher credit score can secure better mortgage rates. Review your credit report and address any discrepancies.
  • Pre-Approval: Obtain a mortgage pre-approval to understand the loan amount you’re eligible for, which strengthens your position when negotiating with builders.

2. Select a Real Estate Agent Specializing in New Constructions

Even when buying directly from builders, having a real estate agent can be beneficial:

  • Advocacy: An agent represents your interests, helping you navigate contracts and negotiations.
  • Market Knowledge: Agents provide insights into market trends, ensuring you make informed decisions.

3. Research and Select a Reputable Builder

Choosing the right builder is paramount:

  • Credentials: Verify the builder’s licenses and certifications. Ensure they adhere to local building codes and standards.
  • Experience: Look for builders with a proven track record in constructing homes similar to your desired style and budget.
  • References: Request testimonials from previous clients and, if possible, visit completed projects to assess quality.
  • Warranties: Inquire about structural and appliance warranties to safeguard your investment.

4. Select the Ideal Location

The location of your new home influences your lifestyle and property value:

  • Community Amenities: Consider proximity to schools, healthcare facilities, shopping centres, and recreational areas.
  • Future Development: Research planned infrastructure projects that could enhance or detract from the area’s appeal.
  • Resale Value: Neighbourhoods with steady appreciation rates are preferable for long-term investment.

5. Choose the Right Floor Plan and Customizations

Tailor your home to fit your needs:

  • Layout: Assess the functionality of different floor plans, considering factors like family size and lifestyle.
  • Upgrades: Decide on essential upgrades versus those that can be postponed. Be mindful of how customizations impact the overall budget.
  • Energy Efficiency: Opt for features that reduce utility costs, such as energy-efficient windows and appliances.

6. Understand the Contract and Builder’s Agreement

Before signing, ensure clarity on all terms:

  • Scope of Work: The contract should detail all inclusions, from materials to finishes.
  • Timeline: Establish a construction schedule with milestones and completion dates.
  • Change Orders: Understand the process and costs associated with making changes after construction begins.
  • Dispute Resolution: Familiarize yourself with procedures for addressing potential disagreements.

7. Secure Financing

Finalize your mortgage:

  • Loan Options: Explore various mortgage products to find one that aligns with your financial goals.
  • Interest Rates: Lock in favourable rates to protect against market fluctuations.
  • Closing Costs: Prepare for additional expenses, including appraisal fees, insurance, and taxes.

8. Monitor the Construction Process

Stay engaged throughout the build:

  • Regular Updates: Schedule site visits and meetings with the builder to track progress.
  • Inspections: Hire independent inspectors at key stages to ensure quality and compliance.
  • Communication: Maintain open lines with the builder to promptly address concerns.

9. Conduct a Final Walkthrough When Purchasing New Construction Homes

Before closing, ensure the home meets expectations:

  • Punch List: Document any issues or incomplete work for the builder to address.
  • Systems Check: Test all appliances, HVAC systems, and fixtures.
  • Warranty Information: Collect all relevant documents and understand coverage terms.

10. Close the Deal

Finalize the purchase:

  • Review Documents: Carefully examine all closing paperwork for accuracy.
  • Funds Transfer: Ensure all financial transactions are completed as per the agreement.
  • Obtain Keys: Once everything is in order, receive the keys to your new home.

11. Post-Move Considerations

After moving in:

  • Home Maintenance: Establish a routine to keep your home in optimal condition.
  • Community Engagement: Get involved in local events to integrate into the neighbourhood.
  • Feedback: Provide reviews for your builder to assist future buyers.

By following this structured approach, you can navigate the complexities when purchasing new construction homes with confidence and clarity.

Contact Chris Reid – Century 21 Leading with more questions on Purchasing New Construction Homes

Edmonton New Home Builders - Trends and Market Updates 14 November 2024

Housing Starts in Edmonton, Alberta: First Half of 2024

Housing Starts in Edmonton, Alberta: First Half 2024

1. Overview of Housing Starts to June 2024

Housing starts, defined as the commencement of construction on new residential units, serve as a vital indicator of economic health and housing market vitality. In Edmonton, 2024 witnessed a notable increase in housing starts, signalling robust construction activity and a response to growing housing demand.

According to the Canada Mortgage and Housing Corporation (CMHC), Edmonton recorded a significant rise in housing starts during the first half of 2024, marking the second-highest level since 1990. This surge was primarily driven by an influx of interprovincial migration and favoruable economic conditions.

CMHC

2. Economic Factors Influencing Housing Starts

Several economic elements contributed to the uptick in housing starts:

  • Population Growth: Edmonton experienced substantial population growth, attracting residents from other provinces due to its affordable housing and strong job market. This demographic influx heightened the demand for new housing developments.
    CMHC
  • Employment Opportunities: The city’s diverse economy, encompassing sectors like energy, technology, and education, provided ample employment opportunities, further enticing individuals and families to relocate to Edmonton.
  • Interest Rates: While national interest rates remained relatively stable, Edmonton’s housing market benefited from local lending conditions that facilitated financing for new construction projects.

3. Demographic Trends and Housing Demand

The demographic composition of Edmonton played a crucial role in shaping housing demand:

  • Young Professionals and Families: The city attracted a significant number of young professionals and families seeking affordable housing options and quality of life, leading to increased demand for single-family homes and townhouses.
  • Immigration: International immigration contributed to population growth, with newcomers seeking rental accommodations and entry-level housing, thereby influencing the types of housing starts initiated.

4. Types of Housing Starts

The surge in housing starts encompassed various residential types:

  • Single-Family Homes: There was a notable increase in single-family home constructions, catering to the preferences of families and individuals seeking more space.
  • Multi-Family Units: Developers focused on multi-family units, including condominiums and apartments, to meet the needs of young professionals and immigrants.
  • Purpose-Built Rentals: A significant portion of new constructions were purpose-built rental units, addressing the growing demand for rental housing in the city.
    CMHC

5. Policy and Regulatory Impacts

Government policies and regulations significantly influenced housing starts:

  • Municipal Incentives: The City of Edmonton implemented incentives to encourage developers to undertake new projects, including expedited permitting processes and tax benefits.
  • Zoning Regulations: Adjustments in zoning laws facilitated higher-density developments, allowing for more efficient land use and increased housing supply.
  • Affordable Housing Initiatives: Policies aimed at promoting affordable housing led to collaborations between the government and private developers to construct units accessible to lower-income residents.

6. Challenges Faced For Edmonton Housing Starts

Despite the positive trends, the housing market faced several challenges:

  • Construction Costs: Rising material and labor costs posed challenges for developers, potentially impacting the affordability of new housing units.
  • Supply Chain Disruptions: Global supply chain issues led to delays in construction timelines and increased costs for building materials.
  • Labor Shortages: The construction industry grappled with labor shortages, affecting the pace of new housing developments.

7. Future Outlook

Looking ahead, several factors are expected to influence housing starts in Edmonton:

  • Sustained Population Growth: Continued population growth is anticipated to drive demand for new housing, prompting ongoing construction activity.
  • Economic Diversification: Efforts to diversify Edmonton’s economy may lead to increased employment opportunities, further attracting residents and boosting housing demand.
  • Policy Developments: Future government policies, particularly those related to housing affordability and urban development, will play a crucial role in shaping the housing market.

8. Conclusion

The year 2024 marked a period of significant growth in housing starts for Edmonton, driven by economic prosperity, demographic shifts, and supportive policies. While challenges such as rising construction costs and labor shortages persist, the city’s housing market remains resilient, poised to meet the evolving needs of its residents.

As Edmonton continues to grow and evolve, the housing sector will play a pivotal role in shaping the city’s future, ensuring that it remains a vibrant and inclusive place for all its inhabitants.

References:

  • Canada Mortgage and Housing Corporation. “Fall 2024 Housing Supply Report.”
    CMHC
  • Edmonton Global. “Edmonton leads in housing metrics.”
    Edmonton Global
  • CityNews Edmonton. “‘Record-setting’ number: Edmonton celebrates increase in housing starts.”
    CityNews Edmonton
  • REALTORS® Association of Edmonton. “Monthly Market Statistics Update.”
    Realtors of Edmonton
  • Nesto. “Edmonton Housing Market | 2024 Home Prices.”
    Nesto
  • WOWA. “Edmonton Housing Market Report: Nov. 5th, 2024 Update.”
    Wowa