Terry Paranych Real Estate Group Blog - real estate market

Finding the Perfect Time to Buy a Home in Edmonton: A Comprehensive Guide

Purchasing a home is one of the most significant financial decisions you’ll ever make. While there’s no one-size-fits-all approach to buying a home at the perfect time, there are several factors you’ll want to consider to help you make an informed decision.

Your Financial Circumstances

Buying a home is an exciting milestone, and your finances play a crucial role in determining the right timing for such a large investment.

Savings and Down Payment:

Having sufficient savings for a down payment is essential when purchasing a home. 5% is the minimum down payment required in Canada, with all down payments of less than 20% subject to mortgage insurance. Keep in mind, the more you put down, the lower your monthly mortgage payments and the better…

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Why Now Is the Perfect Time to Buy Your First Edmonton Home

Even for the most experienced buyer, a home is no small expense – but for a first-time buyer, the idea can be nothing short of overwhelming. However, in addition to Edmonton’s thriving real estate market, there are many reasons why now may be a better time for first-time home buyers than ever before.

Here are 5 reasons why now is the perfect time to buy your first Edmonton home:

1. Historically Low Interest Rates 

According to experts, Canada’s mortgage rates are the lowest in history, with the Bank of Canada having dropped its target rate to 0.25% in early 2020, where it has stayed for the last year.

In short, lower interest rates equate to lower monthly payments, ultimately making mortgages more affordable. A such, current rates and…

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Edmonton’s Real Estate Market Outlook For 2021

Good news, Edmonton! The Edmonton real estate market will continue to benefit from high-demand, low-interest rates and steady home prices in the year ahead.

Edmonton’s Real Estate Market to Remain Balanced

According to experts, Edmonton’s real estate market will remain balanced throughout 2021. Despite market uncertainty in 2020 due to the COVID 19 pandemic, average home prices increased 1% from $361,152 in 2019 to $364,820 (2020). Our outlook for 2021 sees yet another (minor) increase of 2% in average sale prices to $372,116, a key indicator home buyer demand in our city continues to remain strong.

Who’s Buying Real Estate in Edmonton

Move-Up Buyers – Move-up buyers are currently the driving force behind home buyer demand in Edmonton, a…

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Why Now Is the Best Time to Buy an Edmonton Home and Take Advantage of the Lowest Mortgage Interest Rates in Decades

Recent numbers released by the REALTORS® Association of Edmonton have revealed that Edmonton’s housing market is nothing short of thriving. In fact, despite early market uncertainties as a result of the recent pandemic, the capital region has experienced “record-shattering” home sales over the last several months.

Healthy Market Increases

In September alone, sales were up a whopping 35.55% from September 2019. While there was slightly less inventory available (down 15.15% from last year), the number of new residential listings on market is up both year over year and month over month (10.73% from 2019 and 5.90% from August 2020).

An Uptick in Single-Family Home and Condo Sales 

September also saw single-family home sales up nearly 50% from…

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Edmonton Real Estate Market Sees Record Sales For June

Despite an unprecedented slow start to the year due to COVID-19, the Edmonton real estate market is in full swing. Current market statistics have revealed June to be a record month for home sales in and around the capital region.

According to the REALTORS® Association of Edmonton, the city’s total number of unit sales for June 2020 increased by over 13% compared to May 2019. What’s more, the recent easement of pandemic restrictions has resulted in a massive influx of buying activity – and a 77.27% increase in home sales from May 2020 to the end of June.

New listings are also on the rise, with month over month numbers increasing over 20% from the previous month and 16.57% from the previous year. While Edmonton’s inventory did see a slight…

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The 5 Key Benefits of Investing in Real Estate

From increasing your monthly income to padding your retirement fund, with the right planning and the right property, real estate has the potential to deliver some incredible benefits.

Here are just a few of the many great reasons why you should consider investing in real estate:

A Steadier Cash Flow

One of the first and most obvious reasons why people opt to invest in real estate is to improve their cash flow. A great way to supplement your current earnings, income properties can deliver a significant financial surplus depending on how and where you choose to invest. In short, any funds left after paying the mortgage and additional expenses (which may include utilities, repairs and maintenance, etc.) is extra money in your pocket.

Building…

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3 Key Benefits of Selling Your Home in a Buyer’s Market

Don’t let buyer’s market conditions deter you from listing your home for a great sale. Instead, take advantage of these top three buyer’s market benefits.

1. You Have a REALTOR® on Your Side 

Home sellers working with a qualified Edmonton REALTOR® will always have the edge they need to succeed in a buyer’s market. Here’s why:

• Your REALTOR® will help you capitalize and improve upon your home’s value as much as possible prior to listing, allowing you squeeze every dollar from your home sale. 
• They’ll list your home for a fair yet competitive asking price, putting you in a good position to sell your home fast and for top dollar.
• They will create a competitive marketing plan that guarantees you’ll be noticed by buyers (this includes an…

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