The real estate market is poised for a shift. Despite economic turbulence, home values have remained resilient. With interest rates projected to decline, we anticipate a surge in buyer activity. Here's why now is the time to act:

Sellers: Low inventory has kept home values stable, even during challenging times. Preparing your home for sale now ensures you're ready when demand peaks.

Buyers: Rate drops make it more affordable to purchase, but competition will increase as more buyers enter the market.

Investors: With strong demand projected, it's a great time to diversify your real estate portfolio.

Don’t wait until the market becomes crowded. Get ahead by planning your next steps today. Whether you're selling, buying, or investing, let’s work together to make your real estate goals a reality.

Contact me now to create your personalized strategy!

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In a world full of change, a little grace and gratitude can go a long way. Whether it's giving yourself patience or helping someone in need, small steps make a big impact.

Edmonton Real Estate Market October 2024: Interest Rates and Sales Trends

The Edmonton real estate market saw significant changes in October 2024, with sales volume soaring despite pressure from recent interest rate fluctuations. If you’re a homeowner, buyer, or investor in the Greater Edmonton Area, understanding these shifts can help you make informed decisions.

October 2024 brought a 10.5% increase in residential sales month-over-month and a remarkable 38.5% increase compared to October 2023. With new listings down 8.7% from September, inventory is tighter, contributing to a competitive market for buyers.

Detached home sales rose 10.2% month-over-month and an impressive 37.2% year-over-year. The average detached home price in Edmonton remains steady at $552,954, up 13.6% from last year. Sellers of detached properties are well-positioned to benefit from this stable demand and limited inventory.

Semi-detached, row/townhouse, and apartment condo sales also saw significant gains, with condo sales up 43.6% year-over-year. This boost in activity indicates a growing interest among buyers seeking more affordable property options, possibly driven by increased interest rate impacts on financing.

For buyers and investors, the market presents unique opportunities. While apartment condo prices dipped 4.1% from September, their demand has spiked. Buyers looking for entry-level properties or investment opportunities can take advantage of these trends.

With Edmonton’s October 2024 market showing strong sales and stable prices, now may be an ideal time for sellers to list. Buyers and investors should also keep an eye on the evolving landscape, as interest rates shape Edmonton’s real estate future. For personalized advice, reach out today to explore your options in the Edmonton housing market.

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The Edmonton real estate market saw significant changes in October 2024, with sales volume soaring despite pressure from recent interest rate fluctuations. If you’re a homeowner, buyer, or investor in the Greater Edmonton Area, understanding these shifts can help you make informed decisions.

October 2024 brought a 10.5% increase in residential sales month-over-month and a remarkable 38.5% increase compared to October 2023. With new listings down 8.7% from September, inventory is tighter, contributing to a competitive market for buyers.

Detached home sales rose 10.2% month-over-month and an impressive 37.2% year-over-year. The average detached home price in Edmonton remains steady at $552,954, up 13.6% from last year. Sellers of detached properties are well-positioned to benefit from this stable demand and limited inventory.

Semi-detached, row/townhouse, and apartment condo sales also saw significant gains, with condo sales up 43.6% year-over-year. This boost in activity indicates a growing interest among buyers seeking more affordable property options, possibly driven by increased interest rate impacts on financing.

For buyers and investors, the market presents unique opportunities. While apartment condo prices dipped 4.1% from September, their demand has spiked. Buyers looking for entry-level properties or investment opportunities can take advantage of these trends.

With Edmonton’s October 2024 market showing strong sales and stable prices, now may be an ideal time for sellers to list. Buyers and investors should also keep an eye on the evolving landscape, as interest rates shape Edmonton’s real estate future. For personalized advice, reach out today to explore your options in the Edmonton housing market.

Craig Finnman
RE/MAX Elite
(780) 982-1589⁠
craig@craigfinnman.ca

Read Full Market Stats Report

This Thanksgiving season was filled with so much gratitude, especially for each of you who joined us at the Thanksgiving Pie Pick Up & Portrait Event!

It was a beautiful day seeing familiar faces (and some new ones!) and capturing memories. Thank you for making this event a success and for the opportunity to be apart of your real estate journey.

I’m honoured to be your go-to Real Estate Expert and look forward to supporting you for many years to come.

Warmest thanks,

Craig Finnman
RE/MAX Elite

Working with a knowledgeable real estate agent can help reduce the stress of moving to a new area. I’m part of a network of trusted professionals located all over North America. If you need a referral for an agent in another area, I’d be happy to connect you to one!

Craig Finnman
RE/MAX Elite
(780) 982-1589⁠
craig@craigfinnman.ca

Breaking news from the Bank of Canada! The policy interest rate has just been slashed by 50 basis points, bringing it down to 3.75%. So, what does this mean for you?

For homeowners and prospective buyers, this rate cut could mean lower monthly payments, more affordable mortgage options, and new opportunities for refinancing. If you've been waiting to make a move, now might be the perfect time.

On the consumer side, inflation has eased and is back around 2%, helping lower prices on everything from groceries to gas. With this rate cut, you might find more room in your budget as borrowing costs drop.

For businesses, the lower rates create opportunities to invest and grow. Whether you’re expanding or starting a new venture, borrowing is now more affordable. Plus, the Canadian economy is expected to grow steadily over the next few years.

With the Bank of Canada reducing interest rates, now is the time to rethink your financial strategy. From housing to business to everyday spending, this decision impacts us all. Stay informed and make sure you’re positioned to benefit from these changes!

Need more insights? Contact me today to explore your options.

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Inventory is decreasing, which means less competition! While unit sales dipped 12.6% from August, we’re still seeing prices on the rise, with the average residential price up 11.7% from last year. Now’s a great time to capitalize on increased home values! Detached homes are averaging 37 days on market.

With interest rates holding steady, it’s still a great time to secure a home before the inventory tightens further. Detached home prices increased 1.3% from last month, now averaging $552,684. Row/townhouses remain affordable, with prices up 9.6% year-over-year. However, properties are staying on the market a little longer, giving you more time to make your move!

Edmonton’s market remains steady and predictable, making it a prime spot for long-term investment. Semi-detached units saw a 16.8% price increase from last year, and townhouses are up 9.6% YOY. Take advantage of stable prices and competition over lower inventory.

Get ahead of the fall market shift! Whether you're buying, selling, or investing, there's opportunity out there for you. Let’s chat about how to make the most of it!

Craig Finnman
RE/MAX Elite
(780) 982-1589⁠
craig@craigfinnman.ca

Read Full Market Stats Report