The Edmonton real estate market is promising to remain healthy according to forecasts announced by the Realtors Association of Edmonton early in January. According to this announcement, current home owners can expect to see a 3% increase in the value of their single-family homes, with condominiums and townhomes seeing an approximated increase of 2%.
First Time Buyers
For first time buyers these statistics can seem alarming, but what the Association also stated was that the sales of condominiums and alike homes will increase this year – with about 11 500 predicted to be purchased (an increase of 1000 from 2013). The reason this increase is predicted is because while the Edmonton real estate market is healthy and growing, condos and townhomes (also duplexes), offer a much more reasonable price-point for buyers making their first foray into the market.
This steady and strong market can often make first-time buyers shy away from a purchase but they are actually advised to consider it more seriously. If a buyer can make the leap into the Edmonton real estate market, they can rest assured that, although they’ve made a significant investment, a strong market promises that that investment will hold its value (or continue to gain). There is much more risk in buying in a flailing market and then waiting (and hoping) it turns around sooner rather than later.
Sellers have been loving Edmonton real estate for some time now. There is nothing better than a return on capital, and if you are looking to sell, 2014 is looking like a good year. There are plenty of buyers prowling this market and with the predicted increase in value you will be coming out on top.
It’s a great time to be investing. Whether you’re purchasing dwellings for rental properties or looking into the commercial and industrial Edmonton real estate, your money is well divided. With a powerful economy, job growth and the cost of living in the West, rental rates can provide a generous profit.
If you are already an investor who owns a multitude of property, it’s also a positive time to sell – especially if your holdings lie to the Southern portion of the city where development is booming.
Edmonton real estate is an exciting business. There is nothing like helping families find their dream home, or their first home. There is gratification and pride no matter what we help you with – finding a home or selling one. We are lucky to have some amazing clients and every house hunt is its own adventure..
Posted by Gurpreet Ghatehora on