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Wednesday, October 14, 2020   /   by Sergey Korostensky

Alberta’s big cities are among Canada’s most affordable

Calgary and Edmonton are the most affordable major markets for first-time home buyers and offer more ‘elbow room’ than cities such as Toronto or Vancouver, says Jannine Rane, head of communications at Zoocasa, an online real estate information portal.
“To understand how current home prices compare to the past, Zoocasa used data from the Canadian Real Estate Association to highlight trends in benchmark home prices for apartments and single-family homes in 15 Canadian regions over the past five years, (highlighting) the extent to which benchmark home prices grew or contracted in each region and offering a glimpse at where housing is more or less affordable than it was five years ago,” says Rane. “Overall, the Canadian benchmark apartment price rose a staggering 52 percent in five years, from $315,600 in August 2015 to $478,700 in August 2020. The benchmark price for single-family houses across Canada rose 40 percent from $486,800 to $683,400.”
Canada ...

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Tuesday, October 6, 2020   /   by Sergey Korostensky

“Home” Ward Bound October 2020

“Home” Ward Bound
Impactful Real Estate News
 
October 2020
Sergey Korostensky
Real Estate Professionals Inc. 
 



Go Ahead… Give Your Self a Real Treat This Month!
 
The month of October can be a spooky month, maybe even a scary month with monstrous problems. Yikes!! Well maybe not, but words like that seem to be popping up everywhere as kids and adults alike look forward to Halloween.  
 
In fact, according to the Global News, adults spend more on themselves to celebrate Halloween than any other day during the year. I get that. Especially if they want to hang out with the kids to go trick or treating, or to a Halloween party of some kind.  
 
For many homeowners and home buyers though, they are truly scared.  Scared to death of how in the world they are going to get out of their house and into their next one (the trick).    

My Treat: As a result of working wit ...

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Sunday, October 4, 2020   /   by Sergey Korostensky

Edmonton housing sales jump 35 per cent in September: Realtors Association

According to statistics released Friday by the Realtors Association of Edmonton, total sales for September 2020 in the Edmonton metropolitan area increased 35.55% compared to September 2019 but the numbers decrease 0.21 per cent month-over month from August 2020.


The association’s board chair Jennifer Lucas said Saturday that September’s numbers are significantly better than what was being predicted in January, even before the COVID-19 pandemic hit, and after a difficult 2019.
“It’s certainly not the year we thought we were going to have. In January, we did an economic forecast and we were trying to prep people for a very stable (year), no significant increases, no significant decreases for 2020,” she said.
COVID-19 hit just as the industry was beginning what is typically its busy spring season. It took time for real estate to be declared an essential service and that busy season got pushed to the summer, Lucas said.


“But then we’ve ...

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Thursday, October 1, 2020   /   by Sergey Korostensky

Multi-family homes market adjusting to new reality

Calgary’s new multi-family homes market — rental, townhome and condominium — has muddled through major economic headwinds so far this year, but held its own thanks to a focus on affordability, a new report has found.
Urban Analytics released its Alberta State of the Market, Q2-2020 report last week providing a comprehensive snapshot of the province’s new multi-family market.


And Calgary showed pockets of resiliency despite many challenges, says the report’s author Jackson Cornelius, market analyst and advisory lead Alberta at Urban Analytics.
“Townhomes have been driving the majority of the (multi-family) market,” he says, adding that most sales are in the outer areas, including bedroom communities such as Airdrie and Cochrane, where prices tend to be more affordable.
In fact, outer sales accounted for 79 per cent of all multi-family sales in the Calgary region from April to the end of June. Sales of townhomes made up about 57 per ...

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