Most homeowners focus on major expenses like mortgages, property taxes, insurance, and maintenance. However, there is another cost quietly affecting household budgets every month: phantom energy.

Phantom energy, sometimes called standby power, occurs when electronic devices continue drawing electricity even when they're not actively being used.

Common examples include:

• Televisions

• Cable boxes

• Gaming systems

• Wi-Fi routers

• Desktop computers

• Printers

• Phone chargers

While each device may use only a small amount of electricity, the combined impact throughout the year can add up.

How To Reduce Phantom Energy Usage

Fortunately, reducing standby power consumption is relatively simple:

Use Smart Power Bars
Power bars with timers or automatic shut-off features can reduce unnecessary electricity usage.

Unplug Devices When Possible
Chargers and electronics that aren't used regularly should be unplugged.

Enable Sleep Mode
Many computers, monitors, and electronics have energy-saving settings that reduce power consumption.

Choose Energy-Efficient Appliances
When replacing older appliances, look for energy-efficient models that consume less electricity overall.

Small Habits Create Long-Term Savings

Owning a home is about making smart decisions that improve comfort, efficiency, and long-term affordability.

If you're considering buying or selling a home in Edmonton, or simply have questions about homeownership, I'm always available to help.

The Bank of Canada has announced that it will maintain its key overnight lending rate at 2.25%, continuing a period of stability for borrowers and the Canadian housing market.

For many Edmonton homeowners, buyers, and sellers, interest rate announcements can feel complicated. The good news is that today's decision provides a degree of predictability as we move through the summer real estate market.

What Does the Bank of Canada Interest Rate Affect?

The Bank of Canada's overnight lending rate influences borrowing costs throughout Canada, including variable-rate mortgages, lines of credit, and other lending products.

While fixed mortgage rates are more closely tied to bond markets, the Bank of Canada's decisions remain an important factor in overall housing market confidence.

When rates remain stable, buyers and sellers often have greater confidence in making long-term real estate decisions.

What Does This Mean for Edmonton Home Buyers?

For Edmonton home buyers, today's announcement means borrowing costs remain relatively stable.

Buyers who have been actively searching for a home can continue planning with confidence, knowing that there has been no immediate increase in the Bank of Canada's benchmark rate.

Edmonton also continues to offer some of the strongest housing affordability among Canada's major cities. Compared to many larger urban centres, Edmonton buyers can often access larger homes, more property options, and greater value for their investment.

What Does This Mean for Edmonton Home Sellers?

For sellers, stable interest rates help support continued buyer activity.

When borrowing costs remain predictable, more buyers remain active in the marketplace, helping maintain demand across many Edmonton communities.

While every neighbourhood experiences its own market conditions, stable rates are generally viewed as a positive signal for overall market confidence.

Edmonton Real Estate Market Outlook

Real estate is always local.

While national interest rate announcements receive significant attention, factors such as inventory levels, buyer demand, local employment, and neighbourhood-specific trends often have a greater impact on home values and market activity.

Edmonton continues to benefit from strong affordability, population growth, and steady housing demand, creating opportunities for both buyers and sellers throughout the region.

Thinking About Buying or Selling in Edmonton?

Whether you're considering purchasing your first home, upgrading, downsizing, or selling your current property, understanding how market conditions affect your goals is important.

If you'd like to discuss what today's Bank of Canada announcement means for your specific situation, I'm always happy to help.

Craig Finnman
Finnman & Associates
Sell More Homes

Frequently Asked Questions

What is the current Bank of Canada interest rate?
The Bank of Canada has maintained its key overnight lending rate at 2.25%.

Will mortgage rates go down in 2026?
Future mortgage rates will depend on inflation, economic conditions, bond markets, and future Bank of Canada decisions.

Is now a good time to buy a home in Edmonton?
Many buyers continue to view Edmonton as one of Canada's most affordable major housing markets, offering strong value compared to other large cities.

How do interest rates affect Edmonton home prices?
Interest rates can influence buyer purchasing power and market activity, but local supply, demand, and economic conditions also play a significant role in home prices.

The Edmonton real estate market continued to evolve in May 2026, creating a very different environment than many buyers and sellers experienced over the past two years.

The Greater Edmonton Area recorded 2,557 residential sales during May while 4,855 new listings came to market. Inventory climbed to 7,844 active listings, representing a 23.9% increase compared to the same time last year.

For buyers, this is welcome news.

More inventory means more choice, less pressure, and more opportunities to compare properties before making a decision.

However, prices continue to show strength.

The average residential selling price reached $491,794, which is 6.3% higher than May 2025.

Detached homes remain the strongest-performing segment of the market.

The average detached home sold for $604,744 in May, up 4.8% from last year.

Condominiums, on the other hand, are seeing increased competition as inventory grows. Average condo prices fell to $206,282, down 3.7% year-over-year.

What does this mean?

The market is becoming more balanced.

Buyers have options again.

Sellers can still achieve strong results, but success depends on pricing, presentation, and marketing strategy.

If you're considering making a move in Edmonton or Sherwood Park, understanding your local market is more important than ever.

Let's build a plan that helps you move forward with confidence.

Buying or selling a home is one of the biggest financial decisions most people will ever make.

And while every move is different, many of the challenges buyers and sellers face are surprisingly similar.

In the Edmonton and Sherwood Park real estate market, I regularly see transactions become more stressful, expensive, or delayed because of a few avoidable mistakes made early in the process.

The good news?

Most of these situations can be avoided with the right strategy, preparation, and guidance.

If you’re thinking about buying or selling a home in 2026, here are some of the most common real estate mistakes to avoid.

Common Home Buying Mistakes

1. Starting the Home Search Before Getting Pre-Approved

One of the most common mistakes buyers make is shopping for homes before fully understanding their financing.

A proper mortgage pre-approval helps buyers:

• understand their true budget

• strengthen negotiating power

• move quickly when the right home appears

• avoid disappointment later

In competitive Edmonton real estate markets, preparation matters.

A strong pre-approval can make the difference between securing a property and missing out.

2. Focusing Only on Purchase Price

Many buyers focus only on the listing price without considering the full monthly cost of ownership.

Additional costs can include:

• property taxes

• utilities

• condo fees

• insurance

• maintenance

• closing costs

A home should fit comfortably within your long-term financial goals, not just your approval amount.

3. Letting Emotions Drive Decisions

Buying a home is emotional.

But emotional decisions can sometimes lead buyers to:

• overpay

• ignore red flags

• rush inspections

• compromise on important needs

The goal is not just to buy a home.

The goal is to make a smart long-term decision that supports your lifestyle and financial future.

4. Skipping the Home Inspection

Even well-maintained homes can have hidden issues.

A professional home inspection helps buyers understand:

• structural concerns

• roofing conditions

• plumbing or electrical issues

• future maintenance costs

Skipping inspections to compete in the market can create significant risks later.

5. Making Major Financial Changes Before Closing

This happens more often than people realize.

Large purchases, financing changes, new credit applications, or job changes before possession can affect mortgage approval.

Until the transaction officially closes, buyers should avoid:

• purchasing vehicles

• opening new credit accounts

• making unusually large deposits or withdrawals

• changing employment

Common Home Seller Mistakes

1. Overpricing the Home

Overpricing is still one of the most common seller mistakes in today’s Edmonton market.

Many sellers assume pricing higher leaves room for negotiation.

In reality, overpriced homes often:

• sit longer on the market

• generate fewer showings

• lose momentum

• require price reductions later

Today’s buyers are highly informed and compare listings quickly online.

Strategic pricing creates stronger interest and often leads to better long-term results.

2. Underestimating Preparation

Presentation matters more than ever.

Simple improvements can significantly impact how buyers perceive a home:

• decluttering

• touch-up paint

• lighting

• landscaping

• staging

• deep cleaning

Buyers form opinions quickly both online and in person.

The goal is to create an environment where buyers emotionally connect with the property immediately.

3. Weak Marketing Strategy

Professional marketing is no longer optional.

Most buyers begin their search online, meaning your home’s digital presentation is critical.

Strong real estate marketing should include:

• professional photography

• video content

• social media exposure

• targeted advertising

• optimized listing descriptions

• strategic distribution

Exposure creates opportunity.

4. Limiting Showing Availability

The easier a home is to view, the more potential buyers can experience it.

Restrictive showing schedules can reduce opportunities and buyer momentum.

Flexibility helps maximize exposure during the most important days of the listing launch.

5. Letting Emotions Affect Negotiations

Selling a home is personal.

But negotiations work best when decisions are based on strategy instead of emotion.

This includes:

• responding professionally to offers

• understanding market conditions

• evaluating terms carefully

• focusing on long-term goals

A calm, strategic approach often produces stronger results.

Why Strategy Matters More in Today’s Edmonton Real Estate Market

The Edmonton real estate market continues to evolve.

Buyers today have more access to information.
Sellers face more competition online.
Market conditions can shift quickly between neighbourhoods and price ranges.

That’s why having a clear plan matters more than ever.

Real estate success is rarely about luck.

It usually comes down to:

• preparation

• timing

• pricing

• negotiation

• marketing

• guidance

Final Thoughts

Most real estate mistakes are preventable.

The right preparation and advice can help buyers and sellers avoid unnecessary stress, delays, and costly decisions.

Whether you’re buying your first home, upsizing, downsizing, relocating, or selling an investment property, having an experienced professional guiding the process can make a major difference.

If you’re considering buying or selling in Edmonton or Sherwood Park, I’d be happy to help you create a strategy that fits your goals.

No pressure.
Just honest advice and practical guidance.

Craig Finnman
Edmonton & Sherwood Park REALTOR®

Frequently Asked Questions About Buying & Selling Homes in Edmonton

What is the biggest mistake first-time home buyers make?

One of the biggest mistakes is starting the home search before getting fully pre-approved for financing. This can lead to disappointment, rushed decisions, or affordability issues later.

Should I price my Edmonton home higher to leave room for negotiation?

Overpricing often reduces interest and causes homes to sit longer on the market. Strategic pricing typically creates stronger buyer activity and better results.

Is a home inspection necessary in Edmonton?

Yes. Home inspections help identify potential structural, electrical, plumbing, or maintenance issues before closing.

What should sellers do before listing their home?

Sellers should focus on preparation including decluttering, cleaning, repairs, staging, and professional marketing to maximize appeal.

How do I prepare to buy a home in Sherwood Park or Edmonton?

Start by meeting with a mortgage professional, understanding your budget, researching neighbourhoods, and speaking with a REALTOR® about current market conditions.

Another successful sale in Sherwood Park, this time in the established community of Glen Allan.

97 Garland Crescent offers valuable insight into what buyers are prioritizing in today’s market.

Location Still Drives Everything

This home backed directly onto a pathway connecting Glen Allan and Craigavon, offering:
• Immediate access to walking trails
• Close proximity to schools and parks
• A quiet, established neighbourhood

Properties with strong locations continue to generate attention, regardless of condition.

Opportunity-Based Homes Are Still Moving

This property was positioned as a fixer-upper, offering buyers the chance to:
• Renovate and add value
• Customize their living space
• Enter the market in a desirable area

Buyers are actively looking for opportunities to build equity over time.

Functional Layouts Continue to Matter

The home featured:
• Three bedrooms on the main floor
• A spacious primary with an ensuite
• A basement with additional living space, fireplace, wet bar, and bathroom

Layouts that provide flexibility for families or future upgrades remain highly desirable.

Outdoor Space Adds Lifestyle Value

The private backyard included:
• Mature lilac trees
• A producing apple tree
• A quiet setting backing onto green space

Even for homes requiring updates, outdoor lifestyle features remain a strong selling point.

What This Means for Sellers

This sale reinforces a key takeaway:

Homes don’t need to be perfect to sell.
They need to be positioned correctly.

With the right pricing, strategy, and exposure, even properties with renovation potential can generate strong interest.

Another successful sale in Sherwood Park, this time in the well-established community of Sherwood Heights.

39 Pine Street is a great example of what buyers are prioritizing in today’s market.

Updated, Move-In Ready Homes Continue to Lead

This property offered several key upgrades that made it stand out:
• Newer high-efficiency furnace and hot water tank (2016)
• Updated shingles and windows
• Renovated main bathroom
• Durable finishes, including slate flooring

Buyers continue to favour homes where major updates have already been completed.

Bungalows Remain in High Demand

Single-family bungalows in Sherwood Park continue to attract strong interest, particularly when they offer:
• Fully finished basements
• Additional bedrooms and living space
• Functional layouts for families or multi-generational living

39 Pine Street delivered on all fronts, with a fully finished basement, an additional bedroom, a recreation room, and ample storage.

Outdoor Space Still Matters

The south-facing backyard, with patio, fire pit, and privacy, added meaningful lifestyle value.

Outdoor space remains a major decision factor, especially for families and buyers looking for usable yard space.

Location Continues to Drive Demand

Sherwood Heights remains a desirable community due to:
• Walking distance to schools
• Access to public transit
• Proximity to shopping, parks, and recreation

Buyers are consistently prioritizing convenience alongside home features.

What This Means for Sellers

This sale reinforces an important trend:

Homes that are updated, well-maintained, and properly positioned are generating strong interest and competitive activity.

If you’re considering selling your home in Sherwood Park, understanding how buyers are evaluating homes today is key.

Another home has successfully sold in Sherwood Park, this time in the highly desirable community of Aspen Trails.

39 Avebury Court highlights several key trends that continue to shape buyer behavior in today’s market.

Why Aspen Trails Continues to Perform

Aspen Trails remains one of Sherwood Park’s most sought-after communities due to its accessibility, modern homes, and proximity to shopping, parks, schools, and the leisure centre.

Buyers are consistently drawn to areas that offer both convenience and lifestyle, making this neighbourhood a strong performer.

Buyers Want Move-In Ready Homes

Today’s buyers are placing a premium on homes that feel complete and well-maintained.

This property stood out with:
• Updated mechanical systems and newer finishes
• A fully finished basement with additional living space
• Functional layout for families or multi-use living

Homes that require less immediate work continue to attract stronger interest.

Layout and Lifestyle Matter More Than Ever

The combination of open living space, multiple bedrooms, and flexible areas for work or entertainment continues to drive demand.

Buyers are no longer just buying square footage. They are buying how a home fits their daily life.

What This Means for Sellers

The Sherwood Park real estate market remains active, but buyers are more selective.

Success in today’s market comes down to:
• Strategic pricing
• Strong presentation
• Clear positioning

Each sale provides insight into how homes are being evaluated and what buyers are willing to act on.

If you’re considering selling your home in Sherwood Park, understanding these trends is key to making the right move.

In today’s world, financial advice is everywhere.
From social media influencers to news headlines, it can be challenging to determine what information is truly reliable.

The reality is this:
Better financial decisions don’t come from more opinions.
They come from better sources.

Why Financial Literacy Matters More Than Ever

With changing interest rates, shifting real estate markets, and rising living costs across Canada, understanding your finances is no longer optional. It’s essential.

Whether you're buying a home, refinancing, investing, or simply trying to manage your monthly budget, the foundation is the same — clarity.

Trusted Canadian Financial Resources

Here are several credible sources that provide reliable, research-based financial information:

• Bank of Canada

• Financial Consumer Agency of Canada (FCAC)

• Canadian Foundation for Economic Education

• Ratehub.ca

• NerdWallet Canada

• MoneySense

These platforms offer insights into mortgages, interest rates, budgeting, taxes, and long-term financial planning.

The Real Advantage: Strategy

Information is only useful if you know how to apply it.

That’s where most people get stuck.

They read, research, and consume content, but don’t have a clear plan for what to do next.

Where I Fit In

My role is to simplify that process.

If you’re planning a move, considering refinancing, or thinking about investing, I can help you connect the dots between your real estate decisions and your overall financial strategy.

And if you need a trusted financial professional, I’ll introduce you to someone who fits your situation.

No guesswork. Just clear direction.

The Sherwood Park real estate market continues to provide clear signals for both buyers and sellers.

A recent sale at 50 Rosewood Drive in Maplewood highlights what is currently driving buyer decisions and how homes are being evaluated in today’s market.

Location Continues to Drive Demand

Maplewood remains a desirable community in Sherwood Park due to its established setting, quiet streets, and proximity to schools, parks, and transit. Homes in these areas continue to perform well because they offer long-term livability that buyers are prioritizing.

Buyers Are Looking for Flexibility

Today’s buyers are placing increased value on homes that offer versatility. Properties with functional layouts, finished basements, and potential for future customization or suite development are standing out.

This home offered multiple living areas and layout flexibility, which remain strong selling points in the current market.

Strategy Is What Drives Results

The Sherwood Park market is active but also competitive. Buyers are informed and are comparing multiple options.

Homes that are priced and positioned correctly are the ones that are selling.

Each sale provides valuable insight into:
• What buyers are prioritizing
• How homes are being compared
• Where pricing is aligning with demand

What This Means for Sellers

If you’re a homeowner in Sherwood Park, recent sales like this help define where the market is today.

Understanding current conditions allows you to make confident decisions around timing, pricing, and preparation.

If you’re considering selling, or simply want to know what your home could be worth, having accurate data is the first step.

The Edmonton real estate market is shifting.

Inventory is up significantly compared to last year, while sales have declined. At the same time, prices have remained relatively stable.

This creates a more competitive environment for sellers and more opportunity for buyers.

In today’s market, not every home is selling the same.

The properties that are priced correctly and positioned well are still moving. The ones that are not are sitting longer and facing more competition.

This is no longer a momentum-driven market. It is a strategy-driven market.

If you are planning to buy or sell in 2026, your success will come down to how well you position yourself within current market conditions.

Spring is often seen as the start of the real estate market.

More listings hit the market.
More buyers start looking.
More activity overall.

But what most people don’t see is what actually drives the best results.

It’s not timing the market perfectly.
It’s not rushing in because “things are picking up.”

It’s preparation.

New Beginnings Don’t Happen by Chance

Easter is a time people associate with fresh starts.

In real estate, those fresh starts rarely happen overnight.

They come from:

• understanding your current position

• knowing your options

• making decisions with clarity, not pressure

Whether you’re thinking about selling, buying, or even just exploring what’s possible this year, the strongest outcomes come from starting early.

Not acting early.
Starting early.

What Most People Get Wrong About Spring

There’s a common belief that spring is when you “make your move.”

In reality, spring is when prepared people execute.

The homeowners who get the best results:

• already understand their home’s value

• already have a strategy in place

• already know their next step

The buyers who succeed:

• have clarity on budget and direction

• have already been watching the market

• are ready to act when the right opportunity shows up

By the time the market feels busy, the groundwork has already been done.

Clarity First. Decisions Second.

You don’t need to have everything figured out today.

But you do need clarity.

That might look like:

• knowing what your home could realistically sell for

• understanding what your next move could look like

• seeing how timing could impact your outcome

From there, decisions become easier.
More confident.
More controlled.

A Different Approach to Real Estate

There’s a lot of noise in real estate.

Headlines. Predictions. Opinions.

But most people aren’t looking for more information.
They’re looking for direction.

That’s where the right conversation matters.

No pressure.
No rushing.
Just a clear understanding of where you stand and what makes sense next.

Final Thought

Strong foundations lead to better outcomes.

Easter is a reminder that new beginnings don’t just happen.
They’re built.

If real estate is something you’ve been thinking about this year,
this is the time to start getting clear.

Craig Finnman
Royal LePage Prestige Realty

How fast a home sells.
How quickly offers come in.
How efficient the process is.

But sometimes, the most important thing you can do is slow down.

Recently, I had an experience that reminded me of that.

It was a situation where communication wasn’t straightforward. It required more patience, more attention, and a willingness to adapt in the moment.

And honestly, it was one of the most meaningful appointments I’ve had in a long time.

Because when you take away the pressure of timelines and outcomes, what’s left is what actually matters.

Making sure someone feels comfortable.
Making sure they feel understood.
Making sure they trust the process.

That’s the job.

Real estate isn’t just about getting from point A to point B. It’s about how you guide someone through it.

And sometimes, the best thing you can do for a client is simply meet them where they’re at and take it one step at a time.

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