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
More than 115 cases of eye damage reported in Ontario after solar eclipse
More than 115 people who viewed the solar eclipse in Ontario earlier this month experienced eye damage after the event, according to eye doctors in the province.
B.C. seeks ban on public drug use, dialing back decriminalization
The B.C. NDP has asked the federal government to recriminalize public drug use, marking a major shift in the province's approach to addressing the deadly overdose crisis.
Last letters of pioneering climber who died on Everest reveal dark side of mountaineering
George Mallory is renowned for being one of the first British mountaineers to attempt to scale the dizzying heights of Mount Everest during the 1920s. Nearly a century later, newly digitized letters shed light on Mallory’s hopes and fears about ascending Everest.
Orca calf that was trapped in B.C. lagoon for weeks swims free
An orca whale calf that has been stranded in a B.C. lagoon for weeks after her pregnant mother died swam out on her own early Friday morning.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
'I was scared': Ontario man's car repossessed after missing two repair loan payments
An Ontario man who took out a loan to pay for auto repairs said his car was repossessed after he missed two payments.
Powerful tornado tears across Nebraska, weather service warns of 'catastrophic' damage
Devastating tornadoes tore across parts of eastern Nebraska and northeast Texas Friday as a multi-day severe thunderstorm event ramped up in the central United States, injuring at least three people.
Toxic testing standoff: Family leaves house over air quality
A Sherwood Park family says their new house is uninhabitable. The McNaughton's say they were forced to leave the house after living there for only a week because contaminants inside made it difficult to breathe.
Trump's lawyers try to discredit testimony of prosecution's first witness in hush money trial
Donald Trump's defence team attacked the credibility Friday of the prosecution's first witness in his hush money case, seeking to discredit testimony detailing a scheme between Trump and a tabloid to bury negative stories to protect the Republican's 2016 presidential campaign.