We been having very mild winter here in Edmonton, almost blue sky everyday and feels like spring is in the corner.
This past Cold and flu season was not gentle on me. I been sick since Christmas, coughing all the way to new year, finally after 4 weeks, I gain my energy back. Sick is no fun. No parties, no celebrations and no newsletter. Thanks to my friends who gave me special remedies to get rid of coughing, or advise to take certain natural food. That plus sleep and as much hot yoga as humanly possible helped me to recover. On the positive side, February has lots to celebrate, Chinese New Year, Valentines day, and even Fionna’s birthday.
Currently we have less than 3000 listings when normally it would be around 5000 to 7000 listings at this time of the year. That means it is for sure seller’s market and every week we been dealing with multiple offers. Time for Edmonton market to shine since our city still very affordable. Considering the average price of a single family home is under $500,000, and the average price for condo is under $200,000 that means Edmonton housing is attainable for most people unlike other cities. The Real Estate forecast at the beginning of the year indicated that our market will have slight increase and we are 6 months or so behind Calgary and their market has gone up significantly. Adding to the mix, it would appear interest rates are stable so that is giving buyers confidence to enter the market.
As you can see in the above graph, December saw an increase and January (green dot on the left) is much higher than the previous 2 years. So if you are thinking of selling, now would be a good time. Spring is coming, buyers are confident, low supply – high demand. We still suggest to renovate or make the home as presentable as possible as it will encourage a higher price.
Our old office, Coldwell Banker Venture Realty has now merged with Coldwell Banker Mountain Central. Same branding, same level of great service, in fact many of you may not have even noticed the change as our broker spent a lot of time and energy into making the transition as smooth and seamless for all the agents which is no easy task since Mountain Central now has over 150 agents in Alberta
Fionna’s birthday is coming and I can hardly believe she is already turning 11! Recently we took Fionna to a Japanese Restaurant for a pre-celebration. This restaurant is very unique for Edmonton. It only has 10 seats so you really need to book in advance. The Food however is exceptional especially with the chef making the sushi in front of you so your mouth is already watering. The presentation is amazing and definitely the best sushi we have had in Edmonton. Fionna wants to go back next week and I am ok with that as I would like to go back too.
This article contains the opinions of Andrew Barrett and Selena Cheung. Licensed Realtors® with COLDWELL BANKER Mountain Central.
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