Wednesday, August 26, 2009

Selling My Downtown Edmonton Condo

There are so many things that come to a person’s mind when it comes to selling their downtown condo. Where do you start? Who do you talk to? What is your condominium worth? How much would it cost to sell? So here are some free pointers that you may useful.

· Finding a REALTOR® - talk to at least 3 agents from different companies. Ask them about the cost involved and most importantly, how their services differ from others. Because so many people use the net to find information, ask the agents how extensive their internet marketing is and see if they charge extra for the services. Use the net yourself to see who specializes in the area.

· Value of your condo – get an online or a physical evaluation of your condo done by at least 3 different companies, it is a free service. Don’t just choose the agency which evaluated your condo at the highest price. Some real estate agents don’t care about the realistic value and are only concern about getting a listing.

· Current downtown market – be informed, search the blogs and forums, the more you know the better. Talk to your agent about seeing current sales in your area and current market trends. Careful when comparing your unit to others, make sure that the age, size, number of bedrooms and bathrooms are similar. Example: location on the first floor compared to 10th floor will have different value.

· Location, location, location = value, value, value - Condos in Grandin area will definetly sell for more and quicker than Queen Mary Park or other areas near Downtown and Oliver unless they are overpriced to start with. Keep in mind that there are many different aspects to consider about the location and the building. Is there free parking on the street? If your apartment is on Jasper and 102 Street, there isn’t much free parking in the area. Is the building located on the main route like Jasper, 105 Street, 116 Street and so on. The buyer may find it too noisy. Transportation – is the building close to LTR station and major bus stops, shopping centers, theaters, public schools and swimming pools and so on.

· Appearance – of the building, unit, and near surrounding area 1. Neatness, if it is clean that is a good start, 2. Appeal –modern verses outdated, green –trees, shrubs, and other landscaping, add value.

Wednesday, August 19, 2009

Downtown Edmonton Real Estate

Downtown and Oliver - 14 days condos market update

The prices and inventory remain stable .
There are currently 296 condos for sale up by a notch from 293 from July, 248 under 500K and 48 above that range. The average list price of the units is 285,407 / 309 per sq.foot.

In the first two weeks of August, 32 condos have sold under 500K and none above that price with an average list price of 286,809 / 288 per sq.foot. The average sold price was 277,750 / 279 per sq.foot just slightly lower from 281 per sq.foot in July. The average sold-to-list price was 96% and days-on-market ratio was 50.

All numbers are based on condos for 500K and less to get a better averages.

Data provided by REALTORS® Association of Edmonton
Created by Derek Hulewicz, Coldwell Banker Johnston

Try out our new Edmonton and area Map-Based MLS® SEARCH.

Tuesday, August 4, 2009

Downtown Edmonton and Oliver Condos Statistics

The Edmonton downtown real estate market has not changed much in July compared to last month with average sold price per sq.foot of $281 / $284 -June 09, 52 days-on-market and 96% sold-to-list ratio.
92 condos have sold in the last month with 90 under 500K and 2 above. Good news for the sellers is that the inventory has decreased by 12% with 293 condos available for sale as of August 4 compared to 332 as of July 3 and also the absorption rate stood at 3.2. The prices of available condos for sale range from 119,900 to 2,888,000 five thousand sq.feet apartment in the Carlisle being the most expensive

Downtown and Oliver condos sold price per sq.foot under 500K

Number of Downtown and Oliver Condos Sold under 500K