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
MPP Sarah Jama asked to leave Ontario legislature for wearing keffiyeh
MPP Sarah Jama was asked to leave the Legislative Assembly of Ontario by House Speaker Ted Arnott on Thursday for wearing a keffiyeh, a garment which has been banned at Queen’s Park.
Mountain guide dies after falling into a crevasse in Banff National Park
A man who fell into a crevasse while leading a backcountry ski group deep in the Canadian Rockies has died.
2 teens charged in Halifax homicide: police
Two teenagers have been charged with second-degree murder in connection to an alleged homicide near the Halifax Shopping Centre earlier this week.
'Deep ignorance': Calls for Manitoba trustee to resign sparked after comments about Indigenous people and reconciliation
A rural Manitoba school trustee is facing calls to resign over comments he made about Indigenous people and residential schools earlier this week.
ByteDance prefers TikTok shutdown in U.S. if legal options fail, Reuters sources say
TikTok owner ByteDance would prefer to shut down its loss-making app rather than sell it if the Chinese company exhausts all legal options to fight legislation to ban the platform from app stores in the U.S., four sources said.
12-year-old hippo in Japan raised as a male discovered to be a female
When Gen-chan arrived at a zoo in Japan in 2017, no one questioned whether the then-five-year-old hippopotamus was a boy. Seven years later, zoo staff made a surprising discovery: Gen-chan, now 12, was female.
Here's why Harvey Weinstein's New York rape conviction was tossed and what happens next
Here's what you need to know about why movie mogul Harvey Weinstein's rape conviction was thrown out and what happens next.
Improve balance and build core strength with this exercise
When it comes to cardiovascular fitness, you may tend to focus on activities that move you forward, such as walking, running and cycling.
Legendary hockey broadcaster Bob Cole dies at 90: CBC
Bob Cole, a welcome voice for Canadian hockey fans for a half-century, has died at the age of 90. Cole died Wednesday night in St. John's, N.L., surrounded by his family, his daughter, Megan Cole, told the CBC.