2013 Real Estate in Review (part 2)

Last post we started out looking at how 2013 turned out in the South districts of Edmonton.  Today we are going to pick up where we left off, continuing clockwise and beginning with the West end.

NOTE:  This is a multi part series that will span the next week or so.  We will start with the districts in Edmonton and then move out to look at some of the surrounding communities.  

The West of Edmonton is best described as everything on the north bank of the river as it crosses the Anthony Henday and Whitemud Freeways.  It is a very diverse area with almost every property type and class.  There are high end homes, new homes and condos, mature neighbourhoods, redeveloping ones and everything in between.  It includes such landmarks as West Edmonton Mall the Valley Zoo.  It had a pretty stable 2013 as the numbers tell us:

SINGLE FAMILY HOMES

• # OF TRANSACTIONS
• 2012 - 1246
• 2013 - 1305            UP 4.6%

• AVERAGE SALE PRICE
• 2012 - $444,357
• 2013 - $466,340     UP 4.9%

• DAYS ON MARKET
• 2012 - 48
• 2013 - 46

CONDOMINIUMS

• # OF TRANSACTIONS
• 2012 - 591
• 2013 - 608            UP 2.9%

• AVERAGE SALE PRICE
• 2012 - $228,479
• 2013 - $228,076     DOWN 0.17%

• DAYS ON MARKET
• 2012 - 54
• 2013 - 54

Thoughts:  Residential sales showed another year of steady moderate growth in both number of transactions and sale pricing.  This is indicative of the area for the past few years and reflects the mostly established nature of the area.  New Home builds on the fringes of the district will also be steady and contribute, but unlike the SE and SW areas, it is constrained by geography as to how rapidly it can develop.  The Condo market is, to put a positive spin on it, treading water.  Slower transaction growth over the past few years and minimal to non-existent price increases are most likely due to the competition from the faster growth areas around it.  In 2014, there is nothing that indicates that these trends will change, expect a similar trend of slow but steady inching forward.  Transaction numbers will rise for Single Family homes to 1370 units (4.9%) and Condos to 625 units (2.8%).  Prices will also rise; to $489,000 (4.8%) for Single Family and minimally for Condominiums to $230,000 (1%).  It will also continue to be a slower market with DOM being 1 and a half months for SF homes, and slightly longer at 52 days for Condos.

The Northwest district is a bit of a smaller region vis a vis housing as a lot of the geographic area is commercial and industrial.  It still features some very prime real estate in its southern area - Glenora as an example - and a bit of new development in the north - Zone 59 around Big Lake.  As such, the numbers for the district are on a smaller scale than some:

SINGLE FAMILY HOMES

• # OF TRANSACTIONS
• 2012 - 426
• 2013 - 503            UP 18.1%

• AVERAGE SALE PRICE
• 2012 - $338,343
• 2013 - $342,711     UP 1.3%

• DAYS ON MARKET
• 2012 - 47
• 2013 - 40

CONDOMINIUMS

• # OF TRANSACTIONS
• 2012 - 138
• 2013 - 145           UP 5.1%

• AVERAGE SALE PRICE
• 2012 - $183,105
• 2013 - $200,929    UP 9.7%

• DAYS ON MARKET
• 2012 - 59
• 2013 - 64

Thoughts:  While a smaller area the northwest has seen a very good recovery in it's numbers.  SF home unit sales have been rising steadily in the past four years and 2013 was the strongest year in some time.  While they haven't quite bounced back to 2007 levels, prices also rose again year over year.  Condo sales while small in number, posted excellent gains in 2013; numbers that when compared to past years have to be considered as approaching the previous peaks.  In 2014, I expect to see both markets to continue to grow in a similar fashion with transaction figures reaching 550 (+9.3%) for SF homes, and Condo sales increasing 6.8% to 155.  Prices will also rise in both areas albeit a bit slower in the SF market - up approximately 2% to $350,000; while Condo prices climb over $210,000 for the first time since 2009.  While the time on market might seem a bit daunting, these are numbers that tend to be typical for the the area.

The North region comprises 3 MLS districts (1, 27 and 28).  It is a diverse area and a mix of old, established and new homes.  It stretches from the Yellowhead north to CFB Edmonton and encompasses such areas as Castledowns, Belle Rive, Athlone and Rosslyn.  You will find a bit of almost everything in this area although the prospects for new home builds is somewhat constrained by St. Albert to the northwest and the Base to the north. 2013 posted some good numbers:

SINGLE FAMILY HOMES

• # OF TRANSACTIONS
• 2012 - 1097
• 2013 - 1198         UP 9.2%

• AVERAGE SALE PRICE
• 2012 - $352,029
• 2013 - $359,791     UP 2.2%

• DAYS ON MARKET
• 2012 - 52
• 2013 - 53

CONDOMINIUMS

• # OF TRANSACTIONS
• 2012 - 335
• 2013 - 390           UP 16.4%

• AVERAGE SALE PRICE
• 2012 - $227,832
• 2013 - $226,503    DOWN 0.5%

• DAYS ON MARKET
• 2012 - 59
• 2013 - 56

Thoughts: While transaction numbers for both types have been very good news the past few years, prices have been slow to recover since the downturn.  While they have seen an overall gain since that period, it has been slower than some other areas have been experiencing.  I see these trends continuing in 2014.  Unit numbers for both will continue to see excellent gains - for SF homes 1310 (9.3%) and Condos will push upwards to 425 units (+8.9%).  Prices, while not as robust will still see increases; $369,000 (+2.6%) for SF, and $228,500 for Condos (+0.9%).  Days on Market will continue to be slower, over 50 days in both areas (52 & 55 respectively).

Finally for today we look at the Northeast.  This area takes in the established areas north of the Yellowhead and west of 82 Street that includes, Delton, Killkenny and Londonderry, east past Manning Drive into Clareview and to the River.  Northwards it runs to the City limits and includes some of the newer neighbourhoods we see north of 167 Avenue.  Again it contains a great diversity of home types and price ranges although like the North it is much more blue collar than some to its southern brethren.  Here are it's 2013 stats:

SINGLE FAMILY HOMES

• # OF TRANSACTIONS
• 2012 - 879
• 2013 - 942       UP 7.2%

• AVERAGE SALE PRICE
• 2012 - $331,993
• 2013 - $338,703     UP 2.0%

• DAYS ON MARKET
• 2012 - 48
• 2013 - 44

CONDOMINIUMS

• # OF TRANSACTIONS
• 2012 - 472
• 2013 - 508           UP 7.6%

• AVERAGE SALE PRICE
• 2012 - $196,350
• 2013 - $191,551    DOWN 2.4%

• DAYS ON MARKET
• 2012 - 53
• 2013 - 63

Thoughts:  The northeast tends to be the epitome of "blue collar".  It doesn't do much to excite a lot of attention or attract people with a lot of shiny bells and whistles; but what it does do is provide decent housing options for your average homeowner.  It remains and will remain a very affordable place for families to find a well priced home in some very decent neighbourhoods.  This I think will continue to be the case in 2014: sales will see a comparable rise - 1020 units for SF homes (+8.2%), 550 units of Condos (+8.2%); while prices will slowly move upwards - rising 3.3% to $350,000 for SF homes, but only increasing just over 1% for Condos (to $193,500).  Days on market will continue to be longer for Condos taking 60 days  to sell, SF homes will be much faster at 44 days which is about the historical average.

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So that is it for today, we are almost through Edmonton!  Next time we will wrap up our look at Edmonton by seeing what happened in the core with a look at two areas: the Central region, and the Downtown.

Thanks again for reading and remember that these reviews are a general look at macro districts in the City.  For a more comprehensive look at what homes in your neighbourhood are doing and how your home is appreciating in value, give me a call at 780-919-7653 and we can sit down and talk real estate!

Larry

lwestergard@remax.net

2013 Real Estate in review

Well, 2013 is over and I imagine that people are a bit curious as to how the housing market went.  I know that there have already been some forecasts published already - case in point, the RE/MAX 2014 Housing Forecast released on December 11th that I reported on earlier; and the upcoming Realtors Association of Edmonton Forecast next week January 8th.  Rather than giving a broad overview of the whole Edmonton region as these report do,  I like to break things up into smaller chunks, to give you a better look at what is going on in an area of the city that is a bit closer to your own neighbourhood.  This will take out some of the variance you might get by adding in districts that are not like yours and which might skew results one way or another.  Keep in mind though that there is still a degree of overview in this and if you really want a true measure of what your home is doing in the market, it is best if we sit down and look at specifics.  That being said, let's take a look at the market!

NOTE:

This is a multipart series that will span the next week or so.  We will start with the districts in Edmonton and then move out to look at some of the surrounding communities.  Let's start on the south side and move clockwise around the city!

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Picture the South district as being the south bank of the river down to the Whitemud - so, from the University area east to Refinery row.  It is a traditionally mature district which has a good mix of property types and includes a decent mix of condo and single family residential.  The area is seeing some new developments - mostly condo projects, but also infill due to the desirability of many of the neighbourhoods being close to some of the more trendy areas of the city (Whyte Ave).  Here are the key real estate numbers for the South:

SINGLE FAMILY HOMES

• # of TRANSACTIONS
• 2012 - 1036
• 2013 - 1115          UP 7.6%
• AVERAGE SALE PRICE
• 2012 - $410,009
• 2013 - $433,448   UP 5.7%
• DAYS on MARKET
• 2012 - 40 days
• 2013 - 36 Days

CONDOMINIUMS

• # of TRANSACTIONS
• 2012 - 364
• 2013 - 434           UP 19.2%
• AVERAGE SALE PRICE
• 2012 - $281,540
• 2013 - $291,205   UP 3.4%
• DAYS on MARKET
• 2012 - 58 days
• 2013 - 57 days

Thoughts: While transaction numbers have not reached the highs we saw in 2005/06, prices have now seemingly recovered back to those levels.  What bodes well I think is that this is being done in a calm and steady pace as the days on market would suggest, rather than the fast 21 day average we were seeing then, the 36 day average points to a market that is on more of an even keel.  In 2014 I think we will see transaction numbers go up again - for SF homes 7.5% is not unreasonable (bringing totals to about 1200), while for Condos I would not expect an increase that is that high but most likely on par with the SF numbers - 7.5% (467 units).  Prices will most likely see similar increases which will bring them to approximately $450,000 for SF and $300,000 for Condos - both historical highs in the area.  I don't see much of a significant lessening of time on market in either category so it is still going to over a month to sell a home and almost two months to sell a condo!

The Southeast is that area which is sat of Calgary Trail and South of the Whitemud - so the established communities of Millwoods and Wildrose/Silverberry alongside the newer areas of Tamarack/Laurel and then the Ellerslie Road communities of Summerside/Orchards, Ellerslie and Walker Lakes.  It is also a very good mix of residential single family and condominiums both new and mature neighbourhoods. The 2013 key numbers:

SINGLE FAMILY HOMES

• # of TRANSACTIONS
• 2012 -1367
• 2013 - 1431          UP 4.7%
• AVERAGE SALE PRICE
• 2012 - $365,361
• 2013 - $376,264  UP 3.0%
• DAYS on MARKET
• 2012 - 47 days
• 2013 - 41 Days

CONDOMINIUMS

• # of TRANSACTIONS
• 2012 - 510
• 2013 - 644           UP 26.3%
• AVERAGE SALE PRICE
• 2012 - $209,289
• 2013 - $219,098  UP 4.7%
• DAYS on MARKET
• 2012 - 58 days
• 2013 - 53 days

Thoughts: Activity numbers in this area have exceeded the numbers we saw during the "boom" period of 2006/07 but before anyone gets too excited, remember that a lot of this is organic growth due to the new neighbourhoods that have grown in this area during this period.  As the new home market melds into the MLS data more and more, this has helped to add bulk to the existing stock of  homes and condos available to the market.  This is true in both categories although the condo market still has a ways to go to catch up to the 933 units sold in 2006.  Prices have also seen positive movement back to the numbers posted back then, but the continuing competition from the new home market has kept prices still below those levels.  Days on market are still well above the historic averages in both sectors.  In 2014 I believe that we will continue to see increases in both SF and Condo sales and prices with the SF market seeing comparable results and the Condo market being a bot more modest than 2013.  I expect SF transactions to increase to 1500 sales (4.8%) and SF average price 3.6% to $390,000.  In the Condo market look for a more modest 15% increase in sales to 740 units and an average sale price of approximately 3% to $225,500.

Go west of Calgary Trail and south of the Whitemud to find the Southwest district.  It comprises some of the most desirable and distinguished living areas in Edmonton - Riverbend, Windermere, Westbrook and the new developments in Heritage Valley.  There is also a very good cross section of living too, from affordable housing in both condo and single family homes to the larger than life homes you can find in Riverbend and along the Ravines.  The key numbers for 2013:

SINGLE FAMILY HOMES

• # of TRANSACTIONS
• 2012 -1515
• 2013 - 1671         UP 10.3%
• AVERAGE SALE PRICE
• 2012 - $493,093
• 2013 - $509,467  UP 3.3%
• DAYS on MARKET
• 2012 - 49 days
• 2013 - 48 days

CONDOMINIUMS

• # of TRANSACTIONS
• 2012 - 650
• 2013 - 888           UP 36.6%
• AVERAGE SALE PRICE
• 2012 - $262,371
• 2013 - $265,714  UP 1.3%
• DAYS on MARKET
• 2012 - 58 days
• 2013 - 58 days

Thoughts: Again, I think a lot of the growth in transaction numbers is organic.  The Heritage Valley and Windermere developments are creating huge growth numbers in available homes, much of which is finding its way onto MLS sooner rather than later hence the double digit increases.  This is also a fair explanation for the modest price increases (3.3 and 1.3% respectively) we see and the really mundane days on market numbers.  In 2014, look for SF sales to crest over 1850 units (+10.7%), but Condo sales to slow a bit to 750 units mostly in the heels of many large projects either being finished or near sell out.  Prices will again see modest gains with SF pricing increasing just over 3% to $525,000 and Condo pricing rising to $270,000 (about 1.5%).  As in 2013, I do not expect the time to sell to be very short; look at a period of 1 and a half months for homes and almost two months for condos to be the norm.

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So that concludes our first instalment at the year in real estate.  The South side of Edmonton continues to be a robust and active market that has a selection of properties for almost every home buyer out there.  

Remember, whether you are looking to buy or sell it's important we sit down and look at the specifics that relate to you and your needs.  How the numbers I talk about for the general areas related to the home or homes that you have a specific interest in.

Give me a call direct at 780-919-7653 or send me and email at lwestergard@remax.net.

Thanks for reading!

RE/MAX releases 2014 Housing Forecast

Canadian homebuyers remain undaunted in 2013, as housing sales and average price approach five-year high

December, 11, 2013

Major residential real estate markets poised for further growth in 2014

Mississauga, ON (December 11, 2013) – Canadian consumers remained remarkably steadfast in their determination to achieve homeownership in 2013, fuelling residential real estate sales and average price nationally to a five-year high, despite a spotty regional performance.  Improved economic performance on both a national and global stage, combined with historically low interest rates and rising consumer confidence, should spark greater strength in 2014, with housing sales and values expected to further appreciate, according to a report released by RE/MAX. 

2014 Housing Market Outlook Canadian Overview  British Columbia Greater Vancouver Victoria Kelowna   AlbertaEdmonton Calgary SaskatchewanRegina Saskatoon   ManitobaWinnipeg OntarioGreater Sudbury Ottawa Kingston & Area Barrie & District Greater Toronto Area Hamilton-Burlington St. Catherines Kitchener Waterloo London-St. Thomas Windsor-Essex   QuebecQuebec City Greater Montreal   New BrunswickSaint John Moncton Nova ScotiaHalifax-Dartmouth   Prince Edward Island  Newfoundland and LabradorSt. John's Download All Reports

The RE/MAX Canadian Housing Market Outlook 2014 examined trends and developments in 25 major markets across the country.  The report found that the number of homes sold is expected to match or exceed 2012 levels in almost two-thirds of markets (15/25) in 2013, led by strong activity in British Columbia, including Vancouver (10 per cent) and Kelowna (10 per cent).  Ninety-two per cent (23/25) of markets are set to experience average price increases by year-end 2013, with Hamilton-Burlington the country’s frontrunner at 7.5 per cent, followed by Barrie and District at seven per cent, Calgary and St. John’s at six per cent, and Greater Vancouver, Winnipeg and the Greater Toronto Area at five per cent.  The forecast for 2014 shows the upward trend gaining momentum, with values expected to climb yet again in 92 per cent (23/25) of centres, led by Greater Toronto at six per cent.   Strength and stability are forecast to characterize Canadian real estate in 2014, with sales estimates on par or above year-ago levels in all markets examined, led by Kelowna (10 per cent) and Calgary (nine per cent).

Nationally, an estimated 466,000 homes will change hands in 2013, an increase of three per cent over the 453,372 sales recorded in 2012.  Canadian home sales are expected to climb two per cent to 475,000 units by year-end 2014.  The average price of a Canadian home is forecast to appreciate four per cent to $380,000 in 2013, up from $363,740 in 2012.  Values are expected to continue to escalate in 2014, rising three per cent to $390,000 by year end.

Canadian housing markets are on solid ground after a somewhat harrowing first and second quarter of 2013.  Better-than-expected economic performance, relatively stable inventory levels, and the threat of higher interest rates down the road proved mid-year game changers, providing the stimulus necessary to jumpstart homebuying activity.  The serious momentum that emerged in the latter half of the year is expected to spill over into 2014, setting the stage for continued growth and expansion in most residential markets.

Regional disparities surfaced early in 2013, according to the RE/MAX Report, and were evident throughout the year.  Alberta started the year with a bang, with both major markets bucking the national downward trending in sales.  Homebuying activity in British Columbia, Saskatchewan, Manitoba, and Ontario kicked into high gear in July, with most centres expected to move ahead of 2012 levels by year end, led by Greater Vancouver, Kelowna, Victoria (six per cent), Windsor-Essex (six per cent), Edmonton (five per cent) and Hamilton-Burlington (five per cent).  Yet, performance in Quebec and Atlantic Canada is forecast to fall short of 2012 levels.  More consistent performance is expected in 2014, especially given economic projections for the East Coast and Quebec.  Both regions should rebound in the new year, led by Halifax-Dartmouth (five per cent), Moncton (three per cent), Greater Montreal (two per cent) and Quebec City (two per cent). 

Inventory played a key role in keeping housing markets at an equilibrium in 2013—with supply largely meeting demand throughout the year.   The anticipated run-up in inventory failed to materialize in most major centres.  Prices remained healthy as a result, with steady upward momentum noted, particularly in the latter half of the year.  The trend is forecast to continue, with average price appreciation expected to break existing records in 2014.

Although there are several factors that are expected to contribute to rising housing values on a national basis, one of the most pressing is build out.  Nowhere is that more obvious than in Vancouver, where the mountains and the ocean have prevented further growth, and the Greater Toronto Area, where the greenbelt has stymied future development.  As such, the availability of low-rise homes relative to the population is expected to contract, placing further pressure on prices.  Vertical growth and its affordable price point is representative of the future. 

We’re definitely seeing a greater commitment to higher density at a municipal level.   In fact, the trend already underway in Vancouver and Toronto, has gained serious momentum in smaller markets where cities are moving to infuse vibrancy into the urban core through mixed-use residential/commercial/retail development.   The level of investment is substantial—dovetailing with revitalization efforts currently underway.

Solid underpinnings continue to support healthy levels of real estate activity from coast to coast.  Buyers appear to be realistic in their pursuits, and after several rounds of mortgage tightening, many are coming to the table better qualified, with larger downpayments and readjusted expectations. Imposed restrictions have had the desired effect.  A sound framework is now in place to support steady and sustainable growth over the next several years.  Existing inventory levels remain crucial to Canadian housing markets moving forward.  The tightening currently demonstrated at entry-level price points—as more first-time buyers make their way back into the market—could translate into further price hikes down the road. 

Canadian homebuyers remain savvy, with a long-term mindset that bodes well for stability.   Yet, they also value progress, and we expect that to translate again in 2014.  Equity gains should continue to result in tangible leaps to larger homes or better neighbourhoods, as well as a growing wave of renovation and revitalization.  Stock market performance is also expected to bolster activity, as paper wealth is converted to material wealth.

Things to do this Holiday Season in Edmonton under Twenty bucks

Hi All!

Its cold outside right now and I know many don't feel like venturing outside right now but this too shall pass!

The great thing about the weather is it gives time to do read emails and blogs ( :-) )!

I came across some great ideas that I wanted to share with you about some Holiday events that you can take in here in Edmonton that are under $20.00 ....

Hope you get out to a few of these this year!

All the best and just remember that even in this cold spell I am still available to talk about your real estate needs!

Larry

780-919-7653
EMAIL ME

20 Holiday Activities in Edmonton Under $20

Celebrate the Season at Alberta Legislature Throughout December!

1. Celebrate the Season
Cost: Free!
Where: Alberta Legislature Building, 10800-97 Ave.
When: December 5 – 23
About: The first day of this month-long event features a choir performance and the Premier’s ceremonial turning on of the colourful lights outside the Legislature buildings. During the rest of the month, guests can enjoy afternoon and evening choir performances and hot chocolate when visiting the Legislature rotunda.

More Info: www.assembly.ab.ca/visitor

2. All Is Bright on 124 St.
Cost: Free!
Where: 124 St. between 102 & 108 Ave.
When: Saturday, November 23, 12 pm – Late
About: Celebrate the coming of winter with a stunning showcase of fashion, food, and entertainment on 124 St. Enjoy holiday themed storefront displays, hot holiday drinks and food truck specialties, live music, sleigh rides, and a pop up Christmas market to start your holiday shopping!

More Info: allisbright124.ca

3. Christmas on the Square Holiday Light Up
Cost: Free!
Where: Churchill Sq. Downtown
When: Saturday, November 16, 4 pm – 6:30 pm
About: Kick off the festive season with activities and entertainment for the whole family, including free balloon artists and face painting, stilt walkers, mascots and carolers, singers and musicians. Santa himself will be around to light up the majestic 72-foot tree adorned with more than 14,000 LED lights, cascading snowflakes and stars, followed by an impressive fireworks display.
More Info: www.edmontondowntown.com

4. Luminaria
Cost: $10.95 Adult; $8.95 Senior; Children 7-12 $6.15; Children 6 and under are free
When: December 7 & 8, 5 – 9 pm nightly
Where: Devonian Botanic Garden, 5 kms north of Devon on Hwy 60, 15 minutes from West Edmonton
About: Thousands of hand-lit candles sparkle along the paths of the Kurimoto Japanese Garden. Strolling singers, ice sculptures, hot apple cider at the bonfires, illuminated Snow Sprites. An enchanting display! Call for tickets 780-987-3054 ext. 2223 to avoid lineups, or get them at the gate.
More Info: www.devonian.ualberta.ca

5. Festival of Light
Cost: $5 General Admisson; $20 per Family
When: December 6 – 15, 5 – 10 pm nightly
Where: Edmonton Valley Zoo
About: The Festival of Light will stage a spectacular exhibition of artistic light installations, live music, dancers, skating, and animal encounters within the unique setting of the zoo. Plus,  be among the first to experience the grand opening of the brand new Phase II of III in the $50 million rejuvenation of the zoo! See the brand new entrance, gift shoppe, cafe, zoo school, multipurpose room, and The Wander pathway.
More Info: http://buildingourzoo.com/events/festival-of-light/

6. Cory Christopher Christmas Market & Holiday Workshops
Cost: Free to browse the market; prices vary for workshops and special events
When: November 14 – 30
Where: 10914 105 Ave.
About: A treasure trove of yuletide delights awaits shoppers, showcasing the talents of local and Canadian artists and designers. Enjoy fresh brewed apple cider as you find the perfect holiday gifts, accents for your home, and of course something special just for you! Special events and creative workshops take place throughout the month; get creative and get in the spirit of the season!
More Info: www.corychristopher.ca

7. Jingle On Indoor Santa Clause Parade
Cost: Free!
When: Sunday, December 1, 10 am
Where: Downtown Indoor Pedway System: Begins at Commerce Place, to Manulife Place, to Edmonton City Centre West, to City Centre East.
About: The 26th Annual Jingle On Indoor Santa Claus Parade will be a sight of colourful mascots, floats, marching bands, and Santa Claus — of course!
More Info: www.edmontondowntown.com

8. Candy Cane Lane
Cost: Free, though donations for the Edmonton Food Bank are accepted and appreciated. Extra fee for sleigh rides.
When: December 6 – January 2, 2014
Where: 148 St. between 100 Ave. & 92 Ave.
About: Grab a hot chocolate and take a stroll down Candy Cane Lane — a ten block stretch of impressive residential displays of colourful Christmas lights and decorations. Or, see the sights while taking a festive sleigh ride!
More Info: candycanelane.ca

9. Festival of Trees
Cost: $7 Adult, $3 Senior (65+), $3 Youth (13-17), $2 Children (2-12).
When: November 28 – December 1
Where: Shaw Conference Centre, 9797 Jasper Ave.
About: This annual fundraiser for the University of Alberta children’s hospital is a family-friendly event with magnificently decorated trees, festive displays, uniquely decorated cakes, and the most intricate gingerbread houses you have ever seen! Enjoy family scavenger hunts, live entertainment, and a special visit from Santa.
More Info: www.universityhospitalfoundation.ab.ca/Festival_of_Trees_General_Information

10. The Best Little Newfoundland Christmas Pageant Ever
Cost: $20 – $22
When: December 19 – 22
Where: Varscona Theatre, 10329 83 Ave.
About: What could be so hard about directing a Christmas pageant? It’s always the story with the same carols. But no one was expecting the Herdmans — “the worst kids in the world” — to show up for auditions! What has the potential to be the worst pageant ever turns out to be the best one as everyone learns the true meaning of Christmas in this funny, heartwarming play.
More Info: www.tixonthesquare.com

11. With Bells On
Cost: $20 General Admission
When: December 10 – 22
Where: Roxy Theatre, 10708-124 St.
About: This hilarious holiday play details the story of an unlikely partnership between a mild-mannered accountant and a 7-foot tall Glamazon who must work together to escape from a broken elevator in order for her to claim the coveted crown at the Christmas Queen Pageant.
More Info: www.theatrenetwork.ca

12. West Edmonton Mall Playtime: Ornament Making
Cost: Free!
When: November 19, 10 am & 11 am
Where: West Edmonton Mall, 8882-170 St.
About: Just for kids, get crafty and make your own tree ornament to celebrate the holiday season!
More Info: www.wem.ca

13. A Merry Mercer Collective
Cost: Free to browse! Free children’s activities and live music, too.
When: December 7 & 8, 14 & 15; 10 am – 5 pm
Where: Mercer Warehouse, 10359-104 St.
About: Shop for unique handmade goods made by artists, designers, crafty folk, artisans, writers, and bakers in a boutique-like setting — everything is handmade, there are no re-sold products. Live music and a children’s activity table means you can really enjoy your shopping experience!
More Info: www.mercercollective.com

14. Jack Frost Holiday
Cost: $12 Adult; $10.60 Senior (65+); $10.60 Student (13-17); $6.50 Child (2-12): Children under 2 are free.
When: Sunday, December 8, 12 pm – 4 pm
Where: Muttart Conservatory, 9626 – 96A St.
About: Jack Frost might be alive and well outside, but inside it’s tropical, temperate and even a little bit arid. Kick off your holiday fun with a craft, tours, and Christmas cactus planting at the Muttart Conservatory. Ringing hand-bells will fill the air in Centre Court, and the Feature Pyramid, “Jack Frost Nipping at Your Nose” will be alive with hundreds of Poinsettias in a spectrum of colours and shapes. You can even purchase a Muttart-grown poinsettia to take home!
More Info: www.edmonton.ca

15. Bright Lights: Print Affair
Cost: $15 – $20
When: Saturday, November 23, 7 pm
Where: SNAP Gallery
About: Enjoy a fun and elegant evening of holiday cheer with a community of members, volunteers, artists and art patrons. Enjoy great music from local DJs, wonderful food, an interactive printmaking workshop, photo booth, exquisite drinks and, of course, high caliber contemporary print art. This event focuses on the sale of contemporary print works at all price ranges and the Edmonton community is encouraged to support local arts and culture by purchasing art as gifts this holiday season.
More Info: snapartists.com

16. The Edmonton Christmas Show
Cost: $15 Adult; $12 Senior (60+); $9 Youth (9-16); Children 8 and under are free
When: November 28 – December 1
Where: Edmonton Expo Centre, 7515-118 Ave.
About: This family friendly Christmas show will put you in the spirit of the season! Shop for unique gift ideas and holiday décor, take a photo with Santa, enjoy children’s activities like crafts and face painting, enjoy live music and entertainment, meet Amber Marshal (the star of Heartland) and Dora and Diego (from Dora the Explorer).
More Info: www.edmontonchristmasshow.com

17. Chocolate Orange Porter Cask Night
Cost: Under $10 per pint
When: Thursday, November 21, 6 pm
Where: The Sugar Bowl, 10922 88 Ave.
About:  Enjoy a cask version of Alley Kat Brewery’s seasonal specialty brew, the Chocolate Orange Porter. Reminiscent of a favourite holiday candy, this hearty dark beer is malty goodness with notes of curacao oranges. Can’t make it to cask night? Pick up some bottles of the brew to use at your own holiday gathering at the brewery, 9929-60th Ave.
More Info: www.alleykatbeer.com

18. Whyte Christmas Sleigh Ride Shuttle
Cost: $2 Adult; $1 Child
When: November 30 & December 7, 14, 21; 1 pm – 5 pm daily
Where: Old Strathcona
About: Experience the sights and sounds of  the holidays along Whyte Ave. in Old Strathcona with a sleigh ride! Each family will receive a swag bag with products and information showcasing some of your favourite Old Strathcona businesses, and hop on-and-off the sleigh as you stop for shopping and dining in the area.
More Info: www.oldstrathcona.ca

19. Edmonton Oil Kings “Sing for Santa”
Cost: Tickets start at $20
When: Sunday, December 8, 4 pm
Where: Rexall Place
About: Watch WHL hockey teams Edmonton Oil Kings vs. Medicine Hat Tigers and enjoy special Family Fun-Day holiday themed entertainment.
More Info: www.oilkings.ca

20. Christmas Reflections
Cost: $15.75 General Admission
When: December 4 – 23; 5 – 9 pm weekdays, 2 – 6 pm weekends
Where: Fort Edmonton Park, 7000-143 St.
Step back in time to a Christmas’ past! Bundle up and get together with your friends and family to view charming Christmas displays, savour a warm cup of cider or hot chocolate, visit costumed interpreters along 1905 and 1920 Street, sample baking from the wood stove, construct Christmas crafts, and much more.
More Info: www.fortedmontonpark.ca

 My thanks to Greg Van Zyderveld of TD Canada Trust for the heads up on these!

RAE releases October sales stats ... what does it mean?

On November 4th the Realtors Association of Edmonton released their sales statistics for October.

RAE President Darrell Cook says "Total annual sales are the highest they have been for five years and we had the best October in five years as well."  Mr. Cook reports a 15.6% increase in October's sales when compared to October 2012, and a 2.5% increase in price ($337,599 vs $332,232).  You can find the press release here.  He also notes that Sellers can expect quicker sales expectations based on a 74% sales to listing ratio meaning that a lower than normal inventory level coupled with Buyer demand should make it easier to sell your home.

Looking at the whole RAE statistical packet, it is important to realize that Mr. Cook is quoting the numbers for the Edmonton Census Metropolitan Area which includes the City of Edmonton PLUS the municipalities surrounding it (Parkland County, Strathcona, Leduc, Sturgeon and the cities and towns therein).  If you are concerned about just Edmonton you have to delve into the report and look at how the City did on its own - it is true that most of the activity is bound to the city, but it still makes a bit of a difference by taking out the surrounding area.  For example, the month to month comparison for the City of Edmonton shows a slightly lower sale to listing ratio (72%) but a higher price increase (2.5% vs 1.6%) than the overall regional numbers.  So, October 2013 has to be considered a good month for real estate, how is the year doing?

By this time last year for the City of Edmonton there were 18,438 properties listed and 10,584 sales.  The average price was $337,595 and it took 51 days for properties to sell on average.  This year, listings are at 17,586 (down 4.7%), there have been 11,310 sales (up 6.9%), the average sale price is $347,887 (up 3%) and it is taking a day less to sell (50 days).  These increases are pretty much mirrored for the region on the whole - listings down 5.1%, sales up 6.8%, prices up 3% and days on market flat; so overall a very rosy picture, and as President Cook says numbers that, on the whole, are the best they have been in five years.

While this is good news, remember that we have reached the traditional end of the real estate cycle for the year.  The snow has hit the ground and we normally see a bit of a levelling off of the market November thru January with reduced numbers of sales and a lowering of prices. Also, remember the old real estate maxim "location, location, location"  all real estate is local by nature and that the numbers above may not be the full picture of what is happening in your market area, we will need to take a closer, more in-depth look at what is happening in your neighbourhood.  Call me and we can schedule an appointment to do just that!

Regards,


Larry
lwestergard@remax.net
780-919-7653