UP0.42%

or $1,367

FROM OCT

UP1.49%

or $3,554

FROM OCT

UP2.55%

or $9,786

FROM OCT

Monthly Real Estate Update - December 2013

AVERAGE SELLING PRICE - SINGLE FAMILY November

AVERAGE SELLING PRICE - CONDOS

Each Office Independantly Owned and Operated

Direct: 780.444.4734Office: 780.481.2950Toll Free: 1.866.481.2950Fax: 780.483.8000

Email: greg@gregsteele.ca

EXCELLENCE

• SFD average price $393,422 (up 2.55% m/m), median price $376,000• Condo average price $242,482 (up 1.49% m/m), median price $222,000• Duplex/row house average price $323,101 (up 0.42% m/m),median price $311,500• All-residential average price $342,918 (up 3.41% m/m), median price $324,700

- Dec 2, 2013 Realtors Association of Edmonton

November

AVERAGE SELLING PRICE - DUPLEXS November

$393,4222013

$394,7072012

$368,7802011

$242,4852013

$225,1352012

$223,9482011

$323,1012013

$310,7692012

$308,3922011

Average Residential Selling Price

Residential Sale Price Breakdown

This chart breaks down the specific price ranges and identifies the percentage of sales in each price range. 73.67% of all residential MLX sales in November were under $400,000.

Alberta’s income gap widening

Alberta is home to the highest average weekly earnings in the country. While many workers are easily find-ing good paying jobs, not all wages are created equally—and not everyone’s paycheque is growing at the same rate.

The average weekly wage across all sectors in Alberta was $1,118 in August, about $200 more than the national average (seasonally adjusted, including overtime and before taxes). The highest wages in Alberta are in the oil and gas sector where weekly paycheques are around $2,075. Many of the workers in the energy industry are either highly trained or work in conditions that are physically demanding (or both). As well, a shortage of workers in some oil and gas occupations results in a lot of overtime pay.

-Todd Hirsch, Chief Economist, ATB Financial

As the official real estate sponsor of the Children’s Miracle Network, RE/MAX helps more than 17 mil-lion children treated at Children’s Miracle Network hospitals each year.

RE/MAX affiliates everywhere participate in fundraisers to assist the cause and take part in such initiatives as the Miracle Home Program, where they pledge a contribution to the Chil-dren’s Miracle Network on behalf of each transaction.

I am honored to contrib-ute a portion of each trans-action to this worthy cause!

As a part of the Canadian Breast Cancer Foundation’s popular ‘Race for the Cure’ series, RE/MAX co-sponsors the Survivor Recognition P r o g r a m .

The RE/MAX corporate logo appears on the signature pink t-shirts, ball caps and back signs, to honor those who have battled and survived this terrible disease.

I feel great knowing my sup-port is helping as many peo-ple in need as possible!

13%26%

17%16%

<$100,000

$100,000 - $199,999

$200,000 - $299,999

$300,000 - $349,999

$350,000 - $399,999

$400,000 - $449,999

$450,000 - $499,999

$500,000 - $549,999

$550,000 - $599,999

$600,000 - $649,999

$650,000 - $750,000

$750,000 - $1,000,000 +

$275,000.00

$285,000.00

$295,000.00

$305,000.00

$315,000.00

$325,000.00

$335,000.00

$345,000.00

$355,000.00

$365,000.00

January April July October

2013

2012

2011

In November the overall average selling price adjusted upwards to $342,918 an adjustment of 3.41% increase from the October ($331,595) sales figures.

Alberta sets strong pace for new homes

Housing starts in Alberta made an impressive leap in November, jumping 13 per cent higher than they were in October. According to Statistics Canada, home builders started construction on 42,206 new houses in the province, making last month only the second time the total has exceeded the 40,000 mark since 2007. (This figure is seasonally adjusted and expressed as an annualized rate, meaning that if the pace of construction set in November was to continue for twelve months, there would be this many new homes built in a year.)

The strong pace of home building is matching demand as international and interprovincial migration grows at near-record rates. Low mortgage borrowing costs, a healthy labour market, high wages and solid consumer confidence are also encouraging plenty of people to buy. - Todd Hirsch, Chief Economist, ATB Financial

As of November 30, 2013 5,275 homes were listed on the MLS system. November home sales totalled 1,156 compared to 1,494 in October. Days-on-market was 57 days (Oct 50 days).

Alberta keeps its youthful glow

According to a new report from Statistics Canada, Alberta is still the youngest among all the provinces. The median age in Alberta in 2013 is 36.0 years. Nationally, the median age is 40.2 years. The province with the oldest median age is Newfoundland and Labrador at 44.2.

The populations of both Alberta and the rest of the country have been getting on in age, but the rates at which they’re ageing have diverged. Back when Paul Henderson scored the winning goal against the Soviet Union in 1972, the average age in this province was only 25.4. That was 1.3 years younger than the national average of 26.7. These days the split is 4.2 years.

The strong economy encourages steady interprovincial in-migration. These migrants tend to be people in their 20s and often at the age of starting young families. Benefits are that young people spend dispro-portionately more than older people. -Todd Hirsch, Senior Economist, ATB Financial

Monthly Inventory to Sales Comparison

I provide this newsletter to clients and friends to keep them informed of developments in the Edmonton real estate market. The information contained herein is based on sources which are believed to be reliable, but not guaranteed. The statistical data and information outlined was derived from the REALTORS® Association of Edmonton. If you do not wish to receive this newsletter in the future, please e-mail me at greg@gregsteele.ca and let me know.

Multiple sclerosis is a complex disease. While it is most often diagnosed in young adults, aged 15 to 40, it affects children, some as young as two years old. The impact is felt by family, friends and by the community. MS is unpredictable, affecting vision, hearing, memory, balance and mobility. Its effects are physical, emotional, financial, and last a lifetime. There is no cure.

This disease affects my family personally and I want to do my part in finding the cure.

11610 126 ST MLS #: E3357811 $374,900 Don’t miss this EXECUTIVE, brand new, 1,360 s.f. 2 storey half duplex!!! It has everything you could want and more! A gorgeous ex-terior with stone siding and a cozy, front porch veranda, perfect for enjoying the morning sunrise. Interior is simply exquisite. GOR-GEOUS bamboo hardwood throughout the main floor. Open-concept main floor includes the living room, dining room, & kitchen. Elegant gas fireplace occupies the bright and spacious living room. Chef’s kitchen w/ ample storage space, brand new appliances, gorgeous granite countertops, and dark, rich chocolate maple cabinetry. 3 bedrooms & 2.5 baths. Master has a walk-in closet with built-in shelving, and a spacious 4-pc ensuite. Laundry room on the upper level adds convenience to daily tasks. Property has room for a detached single or double garage. West-facing yard. Close to shopping. Minutes away from Hawrelak Park. Just a reach away from all downtown Edmonton has to offer. Perfect for first time home buyers & young executives. Don’t miss this one!!!

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Monthly Inventory to Sales Comparison

Monthly Inventory 2012

Monthly Sales 2012

Monthly Inventory 2013

Monthly Sales 2013