Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for May 2023 hit 2,719, decreasing 6.8% compared to May 2022 but increasing 34.4% from April 2023. Total residential average prices hit $420,507, a 1.5% decrease from May 2022, and an increase of 2.8% from April 2023. 

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $378,800, resulting in an increase of 0.5% from April 2023, but a decrease of 8.4% from May 2022.

New residential listings were down 17% year-over-year from May 2022, while also noting an increase of 14.2% from April 2023. Overall inventory in the GEA was down 5.9% from May of last year, and up 2.6% from the previous month. 

All residential listings averaged 42 days on the market, increasing by 13 days year-over-year and dropping two days from April 2023.

Detached homes averaged 40 days on the market, a two-day decrease from April 2023. They averaged $512,338, a 1.2% year-over-year increase and an increase of 2.3% from April 2023. Detached unit sales were down 9.6% from May 2022, but saw an increase of 37.7% from April 2023 at 1,692. 

Semi-detached homes averaged 37 days on the market, decreasing four days from the previous month. They sold for an average of $381,968, resulting in a small 0.7% decrease year-over-year, but saw an increase of 0.8% from the previous month. Semi-detached unit sales were down 12.8% year-over-year but increased by 38.4% from April 2023. 

Row/townhouses averaging 42 days on the market, a decrease of three days month-over-month. Their prices were down both 4.3% from May 2022 and 3.1% month-over-month, selling at $253,417. Row/Townhouse unit sales saw increases in both year-over-year and month-over-month, noting improvements of 4.1% and 27.8% respectively. 

Apartment condominiums averaged 56 days on market, showing no change from April 2023. They average prices hit $193,218, showing decreases of 0.3% from last month and 8.1% from May 2022. Apartment Condominium unit sales also had increases of 3.7% from May 2022 and 22.2% from the previous month.

If you or someone you know have questions about how this may impact your home selling or buying decision, send me a message!⁠

Craig Finnman ⁠
Re/Max Elite ⁠
craig@craigfinnman.ca ⁠
780-982-1589⁠

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Treating Yourself to a Few Housewarming Gifts: Celebrating Your New Chapter

Moving into a new home is an exciting milestone, marking the beginning of a fresh chapter in your life. It's a time to create a space that reflects your personality, comfort, and style. As you settle into your new abode, consider treating yourself to a few housewarming gifts that will enhance your living experience. Whether it's upgrading your furniture or indulging in a signature home scent, these thoughtful additions can transform your house into a warm and inviting home.

Upgrade your furniture: Investing in new furniture pieces can completely transform the look and feel of your new home. Consider selecting a statement piece that speaks to your style and becomes the focal point of your living space. Whether it's a luxurious sofa, a stylish dining table, or a cozy armchair, choose items that are not only functional but also align with your aesthetic preferences. High-quality, well-designed furniture not only enhances the ambiance but also ensures comfort and durability for years to come.

Create a cozy haven with textiles: To make your new house feel like a home, pay attention to the textiles and soft furnishings. Investing in high-quality bedding, plush pillows, and soft throws can instantly add warmth and comfort to your living spaces. Choose colors and patterns that resonate with your personal style and create a cozy haven for relaxation and rejuvenation. By layering textures and incorporating different fabrics, you can create a welcoming atmosphere that reflects your unique taste.

Enhance the ambiance with lighting: Lighting plays a crucial role in setting the mood and ambience of your home. Consider upgrading your lighting fixtures to create an inviting and functional space. Choose a mix of overhead lighting, task lighting, and accent lighting to cater to different needs and activities. Install dimmer switches to have control over the brightness and create a cozy ambiance for relaxing evenings or vibrant lighting for social gatherings. Additionally, adding stylish lamps and unique light fixtures can serve as decorative elements while providing functionality.

Personalize your space with artwork: Adding artwork to your walls is an excellent way to infuse personality and style into your new home. Choose pieces that resonate with you and reflect your interests, whether it's vibrant paintings, abstract prints, or photographs. Consider supporting local artists or exploring online platforms to find unique and meaningful artwork that speaks to you. By carefully curating your art collection, you can create a visually appealing and personalized space that tells your story.

Indulge in a signature home scent: Fragrances have a powerful influence on our emotions and can help create a welcoming atmosphere in your new home. Consider investing in a signature home scent that evokes pleasant memories or simply makes you feel at ease. Whether it's scented candles, reed diffusers, or essential oil diffusers, there is a wide range of options to choose from. Find a fragrance that suits your preferences, whether it's a soothing lavender, a fresh citrus blend, or a warm vanilla. The captivating aroma will not only uplift your mood but also leave a lasting impression on anyone who enters your home.

Treating yourself to a few housewarming gifts is a wonderful way to celebrate and personalize your new space. Upgrading your furniture, incorporating cozy textiles, enhancing lighting, adding artwork, and indulging in a signature home scent are all ways to infuse your personal style and create a warm and inviting atmosphere. By investing in these thoughtful additions, you'll not only transform your house into a home but also embark on this new chapter with a sense of comfort and joy. So go ahead, treat yourself, and embrace the exciting journey of making your new house truly your own.

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Bridgeport is a neighborhood in Leduc, Alberta, known for its residential development and community amenities. Here are some advantages of living in a neighborhood like Bridgeport in Leduc.

Location: Leduc is strategically located near Edmonton, the capital city of Alberta. This proximity offers residents easy access to a range of employment, education, entertainment, and recreational opportunities available in a larger city while enjoying the benefits of a smaller community.

Community atmosphere: Bridgeport, being a residential neighborhood, often fosters a close-knit community atmosphere. It can provide a sense of belonging and opportunities for residents to connect and engage with their neighbors. Community events, local initiatives, and recreational facilities can contribute to a vibrant community spirit.

Amenities and services: Leduc, including the Bridgeport area, typically offers a range of amenities and services to cater to residents' needs. These may include schools, parks, shopping centers, healthcare facilities, restaurants, and recreational facilities. Having these amenities in close proximity can enhance the convenience and quality of life for residents.

Housing options: Bridgeport, like many residential neighborhoods, usually offers a variety of housing options, including single-family homes, townhouses, and apartments. The availability of diverse housing options can accommodate different lifestyles and budgets, attracting individuals, couples, and families alike.

Outdoor recreational opportunities: Alberta is known for its natural beauty and outdoor recreational activities. Leduc, being located in the province, often provides residents with opportunities for outdoor pursuits. Whether it's exploring local parks, hiking trails, nearby lakes, or participating in sports activities, Bridgeport residents can enjoy an active lifestyle in a picturesque setting.

Access to transportation: Leduc generally benefits from good transportation connectivity, including highways and public transportation options. This accessibility can make commuting to work or traveling to nearby areas convenient and efficient.

It's worth noting that specific details, such as the current state of Bridgeport's development, amenities, and community atmosphere, may have changed since my last update in September 2021.

If you're looking to move into the Bridgeport area, reach out to me to view the 3 Bed | 2 Bath | Bi-Level available!

780-982-1589⁠
craig@craigfinnman.ca ⁠

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64% of Canadians say that storage space is an important factor when buying a home, up from 57% in 2020.

In today’s world, where urban living has become the norm, space has become a valuable commodity. As such, the ability to make the most out of the space available in our homes has become a necessity. However, maximizing space does not necessarily mean sacrificing comfort and style. It involves strategic planning and creative solutions to transform any home into a functional, stylish, and inviting space. By exploring strategies that can help you get smarter with the space available in your home, you can learn how to maximize the potential of your living and work spaces to make them work for your needs and lifestyle.

Declutter and Simplify

If you’re feeling overwhelmed with the clutter in your home, it’s time to declutter and simplify. Start by setting aside time to go through each room one by one. Take a critical look at your possessions and ask yourself whether you really need them. Be honest with yourself, and don’t be afraid to eliminate items that no longer serve a purpose. As you declutter, make piles for items to donate, sell, or discard.

Simplifying your possessions can also extend to your digital life. Organize your digital files and delete any unnecessary photos or documents. Unsubscribe from email lists that no longer interest you and delete old emails. The goal is to create a clear and organized physical and digital space.

Decluttering and simplifying can significantly impact your mental and emotional well-being. A clutter-free environment can promote a sense of calm, reduce stress, and increase productivity. By simplifying your possessions, you’ll also have more time to focus on what truly matters in your life.

Maximize Vertical Space

Vertical space in the home often goes unused, but if you’re looking to make the most out of the space available, it can be a great option. Utilizing walls and other vertical surfaces can create storage and functional solutions you may not otherwise have. There are several ways that you can use vertical space in your home: 

• Install shelves and bookcases that extend from floor to ceiling to add storage and visual interest.
• Mount televisions and computer monitors on the wall for a more ergonomic viewing experience.
• Incorporate loft or bunk beds to free up floor space for other activities.
• Install kitchen cabinets and shelves extending from floor to ceiling for dishes and cookware.
• Add floating shelves or tiered organizers in the bathroom to create additional storage for towels and toiletries.

Maximizing vertical space can significantly impact the functionality and style of your home. By taking advantage of wall space, you’ll create a more organized and functional space and free up valuable floor space for other activities.

Incorporate Multifunctional Furniture

Multifunctional furniture is designed to serve multiple purposes, making it an excellent solution for smaller spaces. For example, consider investing in a sofa bed or futon that can serve as a seating area and a guest bed. Similarly, an ottoman that doubles as storage, extra seating, or a coffee table that can be raised to dining table height can help maximize the functionality of your space. When selecting furniture pieces, look for ones with built-in storage, such as platform beds or storage benches.

In addition to providing practical solutions, incorporating multifunctional furniture can add visual interest and style to your space. Look for pieces that complement your decor and enhance the overall aesthetic of your home.

Utilize Outdoor Space

Whether you have a small balcony or a spacious backyard, there are many ways to make the most of your outdoor space. Start by assessing your space and considering your needs. Do you want a place to entertain guests, a quiet retreat to relax, or a space to grow a garden? Once you’ve identified your needs, you can begin to plan how to utilize your outdoor space effectively.

There are several ways to use outdoor space to save indoor space. Space-saving furniture like foldable chairs or bistro sets can be helpful for smaller spaces like balconies or patios. Installing a vertical garden or trellis provides additional planting space and adds visual interest to an otherwise unused space. By creating a functional and inviting outdoor space, you’ll have a place to relax, entertain, and connect with nature.

Thinking creatively and strategically is the key to getting smarter with the space available in our homes. With a bit of ingenuity, homeowners can make the most out of the space available and enhance their homes’ functionality, style, and overall livability. It is essential to remember that making your homes work for your family is an ongoing process, and as your needs change, so should your spaces. By continuously exploring creative and innovative solutions, you can ensure that your home remains functional and inviting while reflecting your lifestyle.

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Styling a grand foyer in a minimalist style can create a clean, sophisticated, and welcoming atmosphere. Here are some tips to achieve a minimalist look in your grand foyer:

Neutral Color Palette: Start by selecting a neutral color palette for the walls, floors, and larger furniture pieces. Shades of white, gray, beige, or light pastels can create a calming and spacious feel.

Declutter and Simplify: Embrace the minimalist principle of decluttering. Keep only essential items in the foyer and remove any unnecessary furniture, decorations, or accessories. This will help create an open and uncluttered space.

Statement Piece: Incorporate a single eye-catching statement piece to serve as a focal point. It could be a large artwork, a sculptural lighting fixture, or a unique furniture item.

Functional Furniture: Choose furniture with clean lines and simple designs. Opt for a sleek console table or a minimalist bench for functionality without overwhelming the space.

Lighting: Focus on natural light as much as possible by using sheer curtains or leaving windows uncovered. Additionally, incorporate layered lighting with recessed ceiling lights, wall sconces, or floor lamps. Use soft, warm lighting to create a welcoming ambiance.

Limited Decor: Keep the décor minimal and purposeful. Select a few carefully curated accessories or plants that complement the space. Opt for clean, geometric shapes and natural elements to maintain the minimalist aesthetic.

Entryway Organization: Invest in practical storage solutions to keep the foyer organized. Incorporate hidden storage options like built-in cabinets or a sleek storage bench to store shoes, bags, or other items, keeping the space clutter-free.