Edmonton residential unit sales up 14% in January
Edmonton-area homes sales picked up in January. According to the Realtors Association of Edmonton, total residential unit sales in the Edmonton Census Metropolitan Area (CMA) were up 14.23 per cent relative to January 2017. Specifically, across each category, single-family home unit sales were up 12.85 per cent, condominium unit sales were up 14.41 per cent and duplex/row house unit sales were up 22.08 per cent.
“January 2018 unit sales were strong, coupled with an increase in year-over-year listings of more than 15 per cent, which is typical for this time of year,” said Darcy Torhjelm, chair of the Realtors Association of Edmonton.
“With the mortgage stress test rule changes and the latest interest rate change, it will be interesting to see how that impacts the 2018 market.”
In total, the average residential unit price was $359,134, a modest increase of 0.56 per cent relative to December 2017 and an increase of 0.64 per cent compared to January 2017. The average single-family home unit price increased to $428,750, an increase of 2.89 per cent compared to December 2017 and 2.2 per cent compared to January 2017.
The duplex/row house average unit price was $348,613, which represented an increase of 3.44 per cent compared to December 2017 and decrease of 2.06 per cent relative to January 2017. The condominium average unit price was $227,707, which was a decrease of 3.62 per cent month-over-month and decrease of 7.04 per cent yearover-year.
Compared to January 2017, listings were up 15.28 per cent to 2,133 properties total, which was a 98.63 per cent increase monthover-month. Overall inventory increased 2.97 per cent monthover-month and 7.05 per cent year-over-year. Days on market reflected the winter season, with increases across all categories compared to December 2017.
“The increase in the average days on market appears to reflect that buyers are taking time to consider their options before purchasing a new home,” Torhjelm said.
For single-family homes, the average days on market was 67. Duplex/row houses increased to 72 average days on market and condominium average days on market was 90.
HOUZZ REWARDS PARK ROYAL HOMES FOR CUSTOMER SERVICE
Edmonton-based Park Royal Homes has won “best of customer service” on Houzz, an online platform for home remodelling and design, and the honour stems from the top.
Staff at Park Royal Homes will often hear Miles Kohan, president & CEO say, “Treat every customer like they’re a family member you will visit every Sunday” or “If it’s our fault, we fix it. Period.”
Park Royal Homes has operated as a residential homebuilder for more than 25 years, constructing properties that range from $300,000 to $1.5 million. Park Royal currently operates show homes in Aspen Trails, Crystallina Nera, Laurel Crossing, and Manning Village.
The Best Of Houzz winners are awarded annually in three categories: design, customer service and photography. Customer service honours are based on several factors, including the number and quality of client reviews a professional received in 2017.
“Best of Houzz winners represent some of the most talented and customer-focused professionals in our industry,” said Liza Hausman, vice-president of industry marketing at Houzz.
“The Houzz community selected a phenomenal group of Best of Houzz 2018 award winners, so this year’s recipients should be very proud.”
EHS SPEAKER’S SERIES HIGHLIGHTS EDMONTON’S SOIL ON FEB. 26
Mark Stumpf-Allen, Edmonton’s compost programs co-ordinator, will address the Edmonton Horticultural Society (EHS) during its Speaker Series event on Feb. 26.
Stumpf-Allen grew up cultivating crops in the Beverly and Ellerslie neighbourhoods, and currently has a large plot in Delton where he grows vegetables and native plants.
He will inform visitors about changes to Edmonton-area soil during the past century, as human activity has been turning rich soil to clay that will crack in the sun and harden into concrete.
Visitors can learn how the soil building process works and receive information about organics reuse (mulching) and recycling (composting and fermentation).
The event will take place on Feb .26 at the Central Lions Recreation Centre, located at 11113 113 St. NW. The EHS will hold its Annual General Meeting at 7 p.m., and Stump FALLEN’s presentation will follow at 7:30 p.m.