YEG spring real estate update

by Glick and Glick

(Edmonton) – Spring is peaking around the corner and the Edmonton Real Estate Market continues the record run over from 2021. We started the year with about 15% less inventory than last year and posted sales 13% higher in January 2022 than 2021! As well the prices were 3-5% higher than the January before.

If you are looking to sell your single-family home and head for warmer climates or the Grandkids then you may have a tinge of a smile on your face as you are selling at a good time. If you are staying in the city and swapping homes, then it is not as noticeable as buying and selling in the same market still has a similar money spread. However, if you are selling your house and buying a condo you should be in a better position as condos are not appreciating nor selling as fast.

What about if you are looking for a house? Then you must have all your ducks in a row and be able to decide quite quickly. Buyers are finding it a little harder with the decreased selection to “shop” around and the time to go from seeing a house you like to making an offer is very short and you have to expect the possibility of another buyer also offering and the best offer wins. You really need the guidance and help of a seasoned Realtor to help you navigate this market to be able to find and keep what you want.

For the selling of your property, it is still very desirable to polish it up and present it in the very best light and again a Professional Realtor will be your best friend in this endeavour. Some advice may be for you to declutter and stage your property? Or perform some repairs and upgrades. A Realtor can help you figure what will get the best return in dollars and less time on the market.

The biggest challenge on the horizon aside from lower inventory are the impending rise of interest rates. This is expected as soon as March so if you are going to require financing you should be talking to a Mortgage Broker and locking in a rate for as long as is possible so you can search with confidence. If you need a recommendation for a Mortgage Broker, we can also help with that.

What is different now than ever before is that information is available to the consumer from many venues and the role of a Realtor has changed from primarily providing information to helping you make sense of it and applying it to your move. You may only make one or two moves while your Realtor has helped in hundreds or a thousand or more.

Buying and selling is a process that can take time so give us a call and we can help you on your way.

Seth Glick and Murray Glick can be reached at glickandglick.com or bay calling 780-909-4313. This article is sponsored content.