It’s cooling down now. The weather, the market. About the only thing not cooling down is inflation so expect another interest rate increase. All around the city is so pretty with the leaves changing colour to yellows and reds with the cooler temperatures and I highly suggest you get out and enjoy it while you can by taking a walk. Can you believe there are less than 70 days to go in this year, so make the most of it.
This is our very first live event since Covid! I look forward to being back in Vancouver and say Hi to our Vancouver friends. It’s been 3 years since my last visit and I’m grateful my broker Jey Arul and Siew Cheng will be the co-hosting with me as they are going to discuss the property management side. I’m going to share all the latest update on economics, Real Estate market, plus, why and how to invest in Edmonton. Make sure you RSVP this FREE evening event coming up, November 4th.
Our market is still very active this month, I personally run into 3 multiple offers this week. It’s always nice representing sellers, but not as much fun representing buyers in multiple offer situation. The main reason people are in hurry to buy is because there will be another interest rate announcement coming, and most likely will be another major interest rate increase.
For our current market we have lots of inventory with about 8000 homes for sale. The average number of days on the market is 48 days which is up slightly from this time last year. Our average price right now is $398k which is up from last month and the previous year, but we still have a week to go for October so that number may change.
Compared to other cities, Edmonton is still a very affordable place to buy. That’s why our city attracting lot of people to even move to Edmonton.
The above graph is showing average single-family prices for the month of September. Single-family homes are still doing ok with the average price slightly above last year at $465k. Condo prices and sales are still low which brings the average home price down to under $400k but either way, homes prices in Edmonton are very affordable when compared to many other cities.
I’m so happy Movati opened their very first Gym in Windermere, Edmonton, as it’s near by where I live. This Gym provides lot of Yoga classes, 2 swimming pools, hot tubs, steam and sauna rooms. It’s my everyday to go place. Since July this year, I did over 80 hours of hot yoga, hope that can get rid some love handles and keep me more flexible. I love hot yoga classes, it keep me fit and also relax my mind.
Make sure to register for Buy Edmonton – Buy now in Vancouver. More than just learning about Edmonton market, you will learn how to make smart investment decisions & analyze properties so you can bring friends if you like. Members of our PowerTeam will join us so come spend an empowering evening learning about Edmonton & Investing.
Date: Friday, Nov 4th
Location: Element Hotel Metrotown
5988 Willingdon Ave, Burnaby, BC
6:30pm to 7:00pm – Networking
Event Start: 7:00pm
Finish: 9:00pm
Register
I have been invited to Home Wise Expo as feature speaker on Nov 6th at Vancouver Italian Cultural Centre. This is a Full Day event so if you would like to attend, please let me know as I have few Free tickets to give it away. (normal cost is $99)
She loves Balloons! Thanks to Coldwell Banker for allowing me to bring these balloons home after the office Thanksgiving party.
This article contains the opinions of Andrew Barrett and Selena Cheung. Licensed Realtors® with COLDWELL BANKER Venture Realty.
The trademarks REALTOR®, REALTORS®, MLS®, Multiple Listing Service®, and the associated logos are controlled by
The Canadian Real Estate Association (CREA) and identify real estate professionals
who are members of CREA or identify the quality of
services provided by Real Estate professionals who are members of CREA
Copyright © 2022 Wealthyhome. All rights reserved.