Edmonton Real Estate Market

[IanO]

Pointing upwards for sure, but what will prices do...

 

[snowman123]

Pointing upwards for sure, but what will prices do...

Always tough to know, but I suspect once the BoC starts to ease rates, prices will rise again. I wonder if people have used this time of high interest rates to save up for a down payment, while waiting for rates to fall. I bit the bullet and bought a place. I was able to put %20 down on a 360,000$ place. When I renew in 5 years, rates will be a little lower. May as well get used to the higher payments, then when rates fall I'll just keep my payments the same and more will go to principal.

 

[David A]

Smart people will use the time to save up more for a down payment, which is not as hard here as in many other places. However, it could be a bit of a race once rates start to decline, so whoever can get their ducks in a row sooner will probably also be at an advantage.

 

[Stevey_G]

I’m not sure you will see prices rise rapidly as there is still a lot of inventory in the market to cushion low prices.

As a seller I’d like to be wrong. I just don’t see even holding a vacant unit for a year as being worth it.

 

[IanO]

https://mcusercontent.com/89a5a47cddbf70bff3f3e3e53/files/b38c5d2e-777b-95dd-d634-34312dfd3cba/National_Rental_Q4_2023_One_Pager.pdf

 

[MacLac]

Cool! YYC went from 30% to 3% vacancy overnight! Right on!

Good ol’ Zonda Urban pumping out the fake news. Thankfully I’ll take my leasing info from Colliers or Cushman please and thanks…..lol

 

[IanO]

^multi-fam rental product... not office.

 

[MacLac]

Oh? I didn’t know folks paid rent in a condo by the square foot….

 

[Kosy123]

Either way we look at it, from multiple sources over the last few months to a year, vacancy rates are dropping trend wise.

 

[IanO]

Oh? I didn’t know folks paid rent in a condo by the square foot….

Apartments.

But many use $/sqft for pricing either way.

 

[IanO]

This is a good listen.

https://www.cbc.ca/news/canada/edmonton/why-is-edmonton-s-condo-market-so-weird-1.7127318

 

[IanO]

All from

https://www.udiedmonton.com/wp-content/uploads/UDI-February-2024-Market-Watch.pdf

 

[BrettB]

The city has put up an interesting tableau on affordable housing in Edmonton, plenty of data.

Roughly one in eight households in our city - renters and homeowners, young and old - struggle to cover housing costs or live in unsafe or crowded homes, and can't afford to move.

 

[Gronk!]

Commercial real-estate group calls for major funding boost to spur Edmonton housing growth

Edmonton's population is exploding, and that's led the development industry to push for more government funding to help build the housing and infrastructure those people will need.

edmonton.ctvnews.ca

 

[IanO]

I honestly do not even know where to start with this...