Edmonton's March 2024 Market Stats
If you’re a homeowner in Edmonton or planning to become one, I’m going to be sharing an update on the latest market stats from March 2024 for single-family homes.. Make sure you read to the end so that you can take advantage of some hidden opportunities whether you’re thinking about buying or selling. High-Level Market Overview In March there were 1.27 months of supply available in Edmonton, which believe it or not, keeps things pretty firmly in a seller’s market.. What does that mean? Months of supply tells you how many months it would take for all of the homes currently on the market to sell, given the average sales volume. 4-6 months of inventory indicates a more balanced market, less than 4 months means there’s not a lot of inventory available which can drive price up. More than 6 months of supply means there are lots of homes available for buyers to choose which can drive prices down. Average Price The average price for a home in Edmonton is $491,011. That average price is up from $469,382 from this time last year, and up $5,134 from last month. As we head into the spring market we could see prices increasing. In January and February if a home was priced right we were seeing more multiple offers on these houses. As a buyer, you need to prepare yourself when in a seller's market when looking for a home you may end up in a bidding war with other buyers. List to Sale Price Ratio Moving along, the average list-to-sale price ratio was 99.3% in March. That simply means that homes were selling for 99.3% of list price. So just underasking. That’s up from 98.6% last month and up from 97.6% vs last year. It will be interesting to see how the spring market will affect the selling price for a home. Days on Market Now you might be wondering how long it’s taking to sell a home? it took 38 days to sell a home here in Edmonton. it is up from last month where it took 46 days on average, up from last year where it took 48 days. So just know that if you’re planning to sell your home it’s going to take a shorter time than it has in the past. Once again, time will tell if this is market-driven or just seasonally driven Interest Rates Ok if you’re thinking about buying real estate shortly, a 5-year fixed rate is 4.99% with less than 20% down. Make sure to contact your lender to discuss rate options that will work for you. Market Trends Insight In summary, when you look at March market stats, it lookslike things are going to stay in a seller's market as we are in the spring market.. What does this mean, buyers could be competing with other buyers and having to pay more than the list price for a home. Buyers may also see home sellers not being as flexible with items that may need to be fixed in the home, as other buyers competing to buy the home. As a seller, if your home is priced right and in good condition you may see multiple offers on your home and you may receive offers offering more than the list price. So the bottom line is that whether you’re buying or selling, your situation is unique and a general market update should be taken with a grain of salt. If you want know what the homes are selling for in your neighbourhood or you’re thinking of buying you can send me an email.. I’ll always give you the straight goods so that you’re informed to make the best decision that’s right for you, based on your personal situation. Otherwise, feel free to check out my other videos and I’ll be back next month with another market update.
Accelerate the Sale of Your Edmonton Home with These Proven Strategies
When it comes to selling your home in Edmonton, speed is of the essence. Slow and steady might win the race, but not when it comes to getting your Edmonton home off the market. If you're ready to make a swift move, here are three tried-and-true tips to ensure a successful sale and set your sights on the next big thing. Set the Right Price from the Start A well-priced home in the vibrant city of Edmonton is like a magnet for buyers. Collaborate with your trusted Edmonton real estate agent to analyze the local market and determine a competitive price that grabs attention. Avoid the pitfall of an unrealistic price tag that leaves your Edmonton home sitting idle. By strategically pricing your home in Edmonton, you'll generate interest, drive up demand, and increase the chances of receiving multiple offers. According to research, homes that sell within the first 10 days in Edmonton achieve an impressive 101.3% of their asking price. However, after 120 days on the market, the sale-to-list price ratio drops to 97.6%—a discouraging outcome. The good news is that 64% of Edmonton homes sell after just one price reduction. Boost Your Edmonton Home's Curb Appeal Like a Pro Remember, first impressions matter, especially in the bustling city of Edmonton. Ensure that your Edmonton home's exterior is immaculate, inviting, and well-maintained. Spruce up the surroundings by spreading fresh mulch, incorporating seasonal touches such as a new wreath or vibrant flowers, and eliminating any unsightly dead brush or cobwebs. Captivate Edmonton Buyers with Staging Expertise Transform your Edmonton home into a buyer's dream by employing the art of staging. Start by decluttering, depersonalizing, and strategically arranging furniture to highlight the unique features of each room. Create an ambiance that is both welcoming and neutral, allowing potential Edmonton buyers to envision themselves living in the space effortlessly. Found these tips helpful for selling your Edmonton home? Share it with a friend who could benefit from this valuable advice in the Edmonton real estate market!
11 House Cleaning Tips When Selling Your Home
Your deep cleaning checklist will help you learn how to clean your house to sell. It will help you to ensure that you don’t forget anything and, importantly, that you pay attention to those items that can be overlooked. If you’re ready to clean your home, you’ll want to start with the big things before you get to the little things. The Big Things A big part of learning how to clean your house to sell is knowing what the most important parts of your home to clean might be. These are the places and things in your home that are easiest for prospective buyers to spot. If they’re dirty, you can lose a sale. As such, you’ll want to pay special attention to cleaning the following areas: The Fridge, Dishwasher, and Oven These are bigger than you think. While you might be used to how your appliances look and smell, new buyers are going to view them with fresh eyes. You’ll want to make sure they are all cleaned inside and out. There are special products for cleaning out ovens and dishwashers, so invest in those. Make sure that your fridge is emptied and that you’ve cleaned out every shelf and drawer. Put in some extra effort to make sure The Bathtubs, Sinks, and Toilets You already know that these are high-traffic areas, so make sure to take care of them appropriately. You’ll need to spend some serious time scrubbing here, removing every stain and bit of stray dirt. Make sure to pay extra attention to both the sinks and bathtubs, as they’re very easy for even casual observers to look into. These are areas in which a little extra effort can go a long way. Empty the garbage cans, no one wants to see trash when viewing a home. Glass and Mirrors The goal here is to eliminate all of the streaks and smudges that you can find. Use a good glass cleaner and make sure to leave any glass surfaces as clear as possible. Good mirrors help to make rooms look larger, so you’ll want to make sure that they are clean and that they reflect the light well. Glass also needs to be dusted, as the dust particles can make your entire house look a little bit dingier than it should. Walls and Counters Your walls and counters have a few different issues that need to be addressed. First and foremost are the basic marks that have accumulated over the years – a good scrubbing should get rid of most, but don’t be afraid to invest in a special cleaner if you can’t get them out. More pressing is any damage to the walls or counters, which might need to be fixed with either new paint or even putty. Make sure that these areas look as close to new as pots Floors and Baseboards Your floors are the easiest area to see in your home. If they’re not properly cleaned, the rest of your home will look incredibly dirty. Take the time to clean any carpets and use cleaners that you might have on your hardwood floors. You may also need to invest in methods to clean up scratches in some areas. Your baseboards should also be vacuumed and then cleaned by hand in order to get the best results. The Little Things In addition to the big items, figuring out how to clean your house to sell requires being able to identify the most important little things in your house. These items might not seem like they’d cause problems, but they’re things at which most serious buyers will look before they put in an offer on a home. Light fixtures All of your light fixtures need to be deep cleaned before you move out. This is a multi-part task, so be prepared to put in a little work. Start by removing the lightbulbs so that you can replace if necessary. Next, you’ll want to clean out the inside and outside of the fixtures with a microfiber cloth. Finally, finish by removing any stains and using glass cleaner if necessary. Once you’re done, you can replace the bulbs and you should have not only cleaner fixtures but also much brighter lights. Switchplates Your switchplates tend to accumulate a lot of wear and tear over time. Not only are you constantly switching lights on and off, but you’re also constantly touching the plates without noticing what’s on your hands. It’s very important to examine each individual plate in order to determine exactly how much work you’ll need to do. Disinfectant wipes will help with most, but you may need to replace those that are scratched up. Don’t be afraid to remove the plates in order to make sure that they are clean, as there can often be a fair bit of build-up around the edges of the plates. Vents and Fan Blades When was the last time you really looked at your vents and fan blades? You might have done a bit of dusting from time to time, but these are areas of the home that tend to get neglected. You’re going to want to remove your vent covers and clean them both inside and out, getting rid of any accumulated dust. If possible, you should also remove each individual fan blade and wipe it down. Make sure that you clean the parts that are generally covered by any lighting fixtures as well so that you can really make the fan shine. Hardware Much like your switchplates, your home’s hardware gets a lot of wear and tear that you probably haven’t noticed over the years. At a basic level, you’re looking to get rid of fingerprints and the kind of random dirt that accumulates over the years. If your hardware is metal, though, you’re going to want to use metal cleaner in order to restore it to its original look. You’re not just dealing with wear and tear here, but very real environmental damage. You’ll need to use a little elbow grease to get the best results and make the hardware look pristine. Windowsills Your windowsills are another area that tends to attract quite a bit of dirt and grime. Unfortunately, most people tend to clean these areas with a light dusting, trusting that most visitors won’t give them a second glance. When buyers come to your home, though, they’ll use your windowsill as a test to see how well you have actually cleaned your home. It’s recommended that you don’t just dust these areas, but that wipe them down and remove any stains. If possible, you may also want to give them a quick coat of paint in order to make them look like new.
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