Edmonton home sales and pricing cools, luxury market continues strong
As residential home sales and pricing cools in Edmonton, the luxury market continues to boom.
According to the Realtors Association of Edmonton, new residential listings last month were down from August, as well as single-family home unit and duplex/rowhouse sales.
The average price of residential properties is about $377,554 – an increase of 0.3 per cent from September last year. Single-family homes averaged $453,011 while condominiums sold for $224,212 on average.
The MLS Home Price Index, a benchmark price for homes in the Alberta capital region, levelled off at $345,200 – a five per cent gain from September last year but a 0.6 per cent decrease compared to August 2021.
The RE/MAX fall market outlook for Edmonton forecasts that the average price for a home is expected to increase four per cent in the remaining months of 2021.
According to RE/MAX, there has been a higher demand for homes with outdoor space throughout the pandemic, resulting in a “dramatic increase” in acreage demand and sales.
The average price for an acreage with a home on it in the Edmonton area increased 16 per cent in one year.
Luxury sales in Edmonton have nearly doubled, according to RE/MAX River City realtor Jason Holland. Last year 140 homes priced at a million dollars or more sold. Between Oct. 1, 2020, and Oct. 1, 2021, 239 homes sold.
The three most expensive homes for sale in the Greater Edmonton Area, as of Oct. 16, according to Realtor.ca are more than $5 million each.
The most expensive listing is located in Parkland County at 27523 Highway 633 and is listed at $6.95 million.
(Source: Realtor.ca/Sotheby's International Realty Canada)
The mansion was built in 2016 and features an attached and detached garage, eight bathrooms, private pond, and toy vault and private shop with a wash bay.
(Source: Realtor.ca/Sotheby's International Realty Canada)
Next up is a two-storey home in Windermere boasting a grand entryway with 10 feet high ceilings, imported granite from Portugal, an art designed sushi bar, a movie theatre, private elevator, and a self-contained nanny suite.
The mansion is listed at $6.49 million.
(Source: Realtor.ca/Sotheby's International Realty Canada)
(Source: Realtor.ca/Sotheby's International Realty of Canada)
Going for an asking price of $5.99 million, a mansion at Fountain Creek Estates in Strathcona County with seven bedrooms and 10 bathrooms is next on the list.
(Source: Realtor.ca/Exp Realty)
The mansion has more than 14,000 square feet of living space, a butler's kitchen, private spa with steam shower, a wet bar and wine cellar, four-car garage, dog shower, and floor-to-ceiling windows in the living room and dining area.
CTVNews.ca Top Stories
Half of Canadians have negative opinion of latest Liberal budget: poll
A new poll suggests the Liberals have not won over voters with their latest budget, though there is broad support for their plan to build millions of homes.
opinion Why you should protect your investments by naming a trusted contact person
Appointing a trusted person to help with financial obligations can give you peace of mind. In his personal finance column for CTVNews.ca, Christopher Liew outlines the key benefits of naming a confidant to take over your financial responsibilities, if the need ever arises.
'One of the single most terrifying things ever': Canadian couple among tourists on sinking sailing boat tour abroad
A Toronto couple are speaking out about their “extremely dangerous” experience on board a sinking tour boat in the Dominican Republic last week.
'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.
Ottawa injects another $36M into vaccine injury compensation fund
The federal government has added $36.4 million to a program designed to support people who have been seriously injured or killed by vaccines since the end of 2020.
Photographer alleges he was forced to watch Megan Thee Stallion have sex and was unfairly fired
A photographer who worked for Megan Thee Stallion said in a lawsuit filed Tuesday that he was forced to watch her have sex, was unfairly fired soon after and was abused as her employee.
An Ontario senior called Geek Squad for help with his printer. Instead, he got scammed out of $25,000
An Ontario senior’s attempt to get technical help online led him into a spoofing scam where he lost $25,000. Now, he’s sharing his story to warn others.
Accused of burglary at stepmother's home, U.S. senator says she wanted her father's ashes: charges
A Minnesota state senator and former broadcast meteorologist told police that she broke into her stepmother's home because her stepmother refused to give her items of sentimental value from her late father, including his ashes, according to burglary charges filed Tuesday.
Twins from Toronto were Canada's top two female finishers at this year's Boston Marathon
When identical twin sisters Kim and Michelle Krezonoski were invited to compete against some of the world’s most elite female runners at last week’s Boston Marathon, they were in disbelief.