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Happy Wednesday to you! I thought you would find this interesting. Was talking with my coach and she mentioned this was the first time in 20 years of coaching that all markets/agents she works with within Canada and the USA are HOT seller's markets. 

Look at the price gains across the board - insane! 

Figure with putting 20% down on a purchase and financing the 80% what your ROI would be - what even crazier is the high price markets even have had significant % gains Toronto +33.2%, Victoria +24.9% Vancouver +18.4%. 

For example, lets say Toronto with 33% gain, on 1 million house, $330,000 gain on a $200,000 down payment = 165% return.

Another interesting point - Edmonton is not near as hot as most markets in North America - at least yet. 

I listed an estate property in Sherwood Park Wednesday 3pm - they had an appraisal for $387,000, I told them that was accurate in my opinion and listed for $400,000, we had a full price unconditional offer within an hour - we waited for a day to present and had 4 offers and sold at $441,000 with an unconditional offer.


Craig Finnman
Re/Max Elite
(780) 982-1589
craig@craigfinnman.ca
www.craigfinnman.ca
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The Alberta government has mandated that professional services businesses, such as lawyers and accountants, be able to work by appointment only. Therefore, the AREA are reinstituting a ban on all in-person open houses for REALTORS® as professional service providers. Showings can continue with appointment only and limited to two family-unit members at a time.


Please continue to adhere to all the best practice safety protocols.



Be mindful of any and all provincial guidelines and local ordinances.


There has been no known COVID-19 transmission from open houses, but an abundance of caution is in the best interest of everyone at this time. 

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I hope this post finds you well and healthy as we all continue doing our part in social distancing as the number of COVID-19 cases continue to increase in the Edmonton region. Throughout this year, there have been several hurdles we've all had to overcome as we adjust our lives to a new normal. With that being said, the real estate market has bounced back following a slower than usual second quarter. June and July were the busiest months with 2,051 sales and 2,166 sales respectively.


At the end of September of this year, inventory levels were down when compared to levels in August. This is a good thing because it brings down the number of months inventory is sitting which ultimately begins to strengthen the price. These actions are leading us to the point where we’re beginning to slide into a sellers market.


The benchmark price of detached homes is $374,000, which is up 5% when compared to Q1 when the benchmark price was $349,000. Overall, the price of homes is up 7.1% when compared to September 2019.


3,022 sales occurred in Q1 and 5,100 sales occurred in Q3, which is an increase of 49.6% and  tells us that people are actively committed to buying and selling. When looking at YTD sales from 2019 to 2020, sales are down by 3.5%. At year end in 2019, 13,363 sales had occurred and at the end of September 2020, 12,900 sales have occurred.


When looking at the bigger picture, I believe sales and inventory are healthy; we will most likely see the price of homes continue to increase and we'll probably end the year with similar sales numbers to 2019.


Overall, the real estate market in Edmonton is in a good place and I think it will remain the same for the next little while. I don’t believe things will return to the way they were when COVID-19 was first becoming a prominent force in our lives because we all have a better understanding of how to manage our processes so we can continue to buy or sell homes.


Interested in knowing what your home is worth? 


Click here to be redirected to my website where you'll enter your property information.


It only takes a few minutes and I will then conduct a Comparative Market Analysis of your home.

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