[Coldrsx]

Edmonton real estate hits record high (4:35 p.m.)
‘It’s been an astonishing year’
Ron Chalmers, edmontonjournal.com
Published: Thursday, January 04, 2007
Edmonton’s red-hot real-estate market rose to record levels in December with average prices for detached homes hitting $341,933 — up 51.9 per cent in 12 months.

“It’s been an astonishing year,” Madeline Sarafinchan, outgoing president of the Edmonton Real Estate Board, said today.

“Prices in all categories are a lot higher,” she said. “No one anticipated the dramatic rise although Edmonton real estate has been undervalued for the last few years.”


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Font: ****From December to December, average prices rose 52.4 per cent for condos.

“Sellers are happy, of course. Their houses may be worth more than their wildest dreams,” Sarafinchan said.

“For buyers, it’s difficult.”

Total sales through the Multiple Listing Service rose in 2006 to $6.6 billion. That’s an average of more than $2.1 million for each of the board’s 3,104 realtors.

While earning healthy commissions, they were stressed by serving clients in a tight market with many homes attracting multiple offers and selling above list prices, Sarafinchan said.

“There’s only one buyer for every sale” — and often many disappointed would-be buyers, she explained.

Sellers also were challenged to make quick decisions, Sarafinchan said. “Some were snowed under by multiple offers arriving mere minutes after the house was listed.”

Speculation may have fueled increases early in the year when prices were lower, Sarafinchan said. “But not so much now because it’s difficult to invest in a property for $340,000.”

In one year the Edmonton region — including Spruce Grove, St. Albert, Fort Saskatchewan, Sherwood Park and Leduc — surged from the tenth-highest to the fifth-highest average price among Canadian cities, trailing only Toronto, Fort McMurray, Calgary and Vancouver.

Within Edmonton, December prices for detached homes ranged from $244,162 in the central zone to $468,706 in the southwest. Outside the city, St. Albert homes were the highest, averaging $425,187.

rchalmers@thejournal.canwest.com

Business writer Ron Chalmers will have a full report on the housing market in Friday’s Journal.

[dubiousmike]

In one year the Edmonton region — including Spruce Grove, St. Albert, Fort Saskatchewan, Sherwood Park and Leduc — surged from the tenth-highest to the fifth-highest average price among Canadian cities, trailing only Toronto, Fort McMurray, Calgary and Vancouver.


I don't mean to nitpick, but, uhhhhhh, Victoria? Kelowna?

Alberta's mainstream newspapers are growing more and more fond of cherry picked examples and unqualified statistics.


But the original point of the article stands. Edmonton's got's a pretty serious boom of its own going on. Just like Calgary, it's good for most, but troublesome for many.

[aastra]

In one year the Edmonton region — including Spruce Grove, St. Albert, Fort Saskatchewan, Sherwood Park and Leduc — surged from the tenth-highest to the fifth-highest average price among Canadian cities, trailing only Toronto, Fort McMurray, Calgary and Vancouver.

The average price for a single family home in Victoria in December, 2006 was $502,447. Journalists who live outside of southwest BC don't seem to realize that Victoria and Vancouver are completely distinct CMAs.

[samne]

“No one anticipated the dramatic rise although Edmonton real estate has been undervalued for the last few years.”


myabe now its overvalued :)

[big W]

Nope looking at affordability it is still near the average for CA's and CMA's in Canada. So the mortgage + property taxes and utilities on the average home (condo, or single family) still eats up a lower amount of the average income in Edmonton, than in either, Vancouver, Toronto, Montreal and Calgary. I think it is about right at the moment but if the trend keeps going it may become too much.

[malek]

Nope looking at affordability it is still near the average for CA's and CMA's in Canada. So the mortgage + property taxes and utilities on the average home (condo, or single family) still eats up a lower amount of the average income in Edmonton, than in either, Vancouver, Toronto, Montreal and Calgary. I think it is about right at the moment but if the trend keeps going it may become too much.


70,1 % à Vancouver
43,8 % à Toronto
40,9 % à Calgary
33,4 % à Edmonton
36,0 % à Montréal
30,8 % à Ottawa

lower pct means more affordable.

[Sacamano]

for a guy born and bred in Canada .... pfffffft to average/median ... what is it now around ~35000/yr .. I covered that 10 years ago fresh out of school with a pathetic undergrad

regardless, a few exta dollars in hand and a few more square feet of living space is hardly worth the price of having to live in Edmonton

[Kevin_foster]

70,1 % à Vancouver
43,8 % à Toronto
40,9 % à Calgary
33,4 % à Edmonton
36,0 % à Montréal
30,8 % à Ottawa

lower pct means more affordable.

It probably would be great to cite your stats, because some people might just think that 50% of all statistics are made up on the spot. :P

From Royal LePage - Edmonton is 5th most expensive amongst Canada's Major Urban Centers - http://docs.rlpnetwork.com/Q42006Release.pdf - I would not include Fort Mac in this discussion - it's a crapshoot.

[feepa]

regardless, a few exta dollars in hand and a few more square feet of living space is hardly worth the price of having to live in Edmonton

Ya, cause living in Toronto is OH SO MUCH BETTER.

[big W]

70,1 % à Vancouver
43,8 % à Toronto
40,9 % à Calgary
33,4 % à Edmonton
36,0 % à Montréal
30,8 % à Ottawa

lower pct means more affordable.


Malek thanks for putting up the affordability %'ages that I was mentioning.

[WHISTLERINMUSKOKA]

Ya, cause living in Toronto is OH SO MUCH BETTER.

Um, ya it is.

[malek]

It probably would be great to cite your stats, because some people might just think that 50% of all statistics are made up on the spot. :P

From Royal LePage - Edmonton is 5th most expensive amongst Canada's Major Urban Centers - http://docs.rlpnetwork.com/Q42006Release.pdf - I would not include Fort Mac in this discussion - it's a crapshoot.

your paper has very few numbers...

my numbers are from the RBC and are very detailed: http://www.rbc.com/nouvelles/pdf/20061220housing-f.pdf

can't find the link for the english version.

[vid]

"Toronto, Fort McMurray, Calgary and Vancouver."

What a distinguished group of cities!!

The Toronto vs Edmonton shit is priceless. :) Keep it up! :rolleyes:

[Coldrsx]

You cant compare toronto to Edmonton.....but we dont need people shit talking edmonton here again.

[big W]

your paper has very few numbers...

my numbers are from the RBC and are very detailed: http://www.rbc.com/nouvelles/pdf/20061220housing-f.pdf

can't find the link for the english version.


http://www.rbc.com/economics/market/pdf/house.pdf

TIme to return the favour Malek, here is the RBC numbers in english.

[Sacamano]

Ya, cause living in Toronto is OH SO MUCH BETTER

depends - if you're into the husky feminine , jeans and printed t-shirt look - Edmonton is probably your place

[feepa]

depends - if you're into the husky feminine , jeans and printed t-shirt look - Edmonton is probably your place
As opposed the drugged out ultra skinny too good for you attitude chicks of Toronto...

Hrmm...

Maybe I should go gay? Nah! The women in Calgary are choice!

Wheres a nice Emo chick when you need one?

[feepa]

depends - if you're into the husky feminine , jeans and printed t-shirt look - Edmonton is probably your place
Also, I forgot to thank you for being so ignorant. Keep the stuck up losers in Toronto, (which means you) thanks!

[dubiousmike]

Also, I forgot to thank you for being so ignorant. Keep the stuck up losers in Toronto, (which means you) thanks!

Hahahahaha, goodlookin' totally struck a nerve.

Honestly, you can't tell when someone is fucking with you?

[vid]

Dude, if you're into the husky feminine jeans and printed t-shirt look, come to THUNDER BAY, not Edmonton! We got dat shit goin' on!! :banana:


No wonder I'm gay. :(

[dubiousmike]

http://www3.telus.net/mikedubious/emot-banjo.gif

[feepa]

Hahahahaha, goodlookin' totally struck a nerve.

Honestly, you can't tell when someone is fucking with you?

I just dont get why every article about Alberta or Edmonton or Calgary gets such rude responses in this section from the east and specifically Toronto forumers. Its almost like they are jealous of all the economic successes we are having out here (read oil)

[Rob D]

depends - if you're into the husky feminine , jeans and printed t-shirt look - Edmonton is probably your place

Are you that bored that you have to resort to this sort of shit. You are the most likely candidate for my very first "ignore" as you so seldom post anything worth reading.

[WHISTLERINMUSKOKA]

I just dont get why every article about Alberta or Edmonton or Calgary gets such rude responses in this section from the east and specifically Toronto forumers. Its almost like they are jealous of all the economic successes we are having out here (read oil)



Well what we don't get (us from the East, and us from the true West B.C) everyday another mundane article is posted repeating the same shit over and over again. Blah blah blah, we have money coming out of our asses. We got it, it's old news, get back to us when your city(s) have something interesting to discuss that doesn't involve you guys portraying the rest of the country like some washed up welfare state. Trust me it has absolutely nothing to do with jealousy.

[Sacamano]

Also, I forgot to thank you for being so ignorant

now that's a hilarious follow-up to your previous post

[feepa]

Well what we don't get (us from the East, and us from the true West B.C) everyday another mundane article is posted repeating the same shit over and over again. Blah blah blah, we have money coming out of our asses. We got it, it's old news, get back to us when your city(s) have something interesting to discuss that doesn't involve you guys portraying the rest of the country like some washed up welfare state. Trust me it has absolutely nothing to do with jealousy.

This is the first time I have seen this article about housing prices in Edmonton being 5th in the country from tenth.
Good grief, I guess if it has the title "Alberta" maybe you should just not enter it. Its funny what you say. This article doesn't portray the rest of the country in any manner, but yet you feel it portrays the rest of the country like some washed up welfare state?
I guess the article in Canada West about "Alberta brags bad boy" is just a clone of the other millions of articles, in your mind eh?

Good grief Charlie Brown.

[vid]

Do you want me to start a counter-posting of threads about how Northwestern Ontario's economy is in the tank? Because I fucking swear to God, one more article about how good Alberta is doing and the dam will fucking burst, ya hear??

[feepa]

Do you want me to start a counter-posting of threads about how Northwestern Ontario's economy is in the tank? Because I fucking swear to God, one more article about how good Alberta is doing and the dam will fucking burst, ya hear??

lol

[Rob D]

I think that those who complain about Alberta's wealth would be very quiet if all of a sudden we stopped sending the transfer payments to Ottawa for redistribution to the other regions.

[Xelebes]

Um, ya it is.

If you like the Pennsylvania Express.

[itom 987]

This thread dosn't seem to be going anywhere.