Edmonton, September 2, 2015: The average residential price in August for the Edmonton Census Metropolitan Area (CMA) is up 1% year-over-year (YoY) and down slightly by 0.2% relative to last month. A single family home in the Edmonton Census Metropolitan Area (CMA) sold for an average of $439,829; up 0.7% from July and up 1.0% YoY. The average for all residential properties sat at $372,256; down 0.2% from July and up 1.0% over last August.

“Edmonton continues to experience a relatively stable market with respect to year-over-year prices. A slower pace of sales, combined with growing inventories, are creating favourable conditions for entering the Edmonton market,” explains Geneva Tetreault, Chair of the REALTORS® Association of Edmonton. “We have a great selection of inventory this year, a luxury we did not have last year. Sellers may have to wait a little longer to sell their houses but they should still being getting a good price for their house. Buyers can take more time to select their home and have more choice than they would have last year.”

“While there is no doubt that oil prices and the resulting economic slowdown have impacted the housing market, Edmonton has been able to weather these changes better than other Alberta markets.” Tetreault continues, “New developments and projects both in the city and outlying areas have kept the housing market moving.”

Sales continue to lag behind last year in all areas except duplex/rowhouse. An increase in availability of duplex/rowhouse options has helped this category grow over last year in sales (up 1.7%) and price (up 1.53%). Condos continue to be the hardest hit, with sales down 7.7% and average prices down 2.8% from last year.

Sales of all residential properties reported last month are down 5.6% from those reported in August of 2014. Single family home sales of 884 were down 4.3% YoY compared to 1,111 reported last month. Inventory remains strong at 7,227 for the Edmonton CMA at the end of August 2015, up 35% from last August. All residential listings were up YoY by 26.9% but down by 6.3% from last month. There is currently just under five months’ supply of inventory in the Edmonton CMA.

Average days on market for all residential properties was up again this month at 54. Single family average days on market was up to 52 from 48 in July. Condominiums were averaging 56 days compared to 54 in July, and duplex/rowhouses took an average of 52 days to sell in August.

If you are moving or have ever moved, you know there are several calls to make in order to coordinate your change of address and services. We’ve
put together a list you can use as a quick reference for moving, or for any other reason:

UTILITIES:
ATCO GAS 780-424-5222 www.atcogas.com 
DIRECT ENERGY 1- 866-374-6299 www.directenergy.com 
EPCOR 780-310-4300 www.epcor.ca 

PHONE AND CABLE:
TELUS 1-888-811-2323 www.telus.net 
SHAW CABLE & INTERNET 780-490-3555 www.shaw.ca 
BELL 1-866-310-BELL (2355) www.bell.ca 
ROGERS 1-877-343-5745 www.rogers.com 

MUNICIPAL:
EDMONTON TIPS (Property Tax) 311 or 780-442-5311 www.edmonton.ca 
PUBLIC SCHOOL BOARD 780-429-8000 www.epsb.ca 
CATHOLIC SCHOOL BOARD 780-441-6000 www.ecsd.net 

PROVINCIAL AND FEDERAL:
CANADA POST 1-800-267-1177 www.canadapost.ca 
CANADA REVENUE AGENCY 1-800-959-8281 www.cra-arc.gc.ca 
ALBERTA HEALTH CARE 403-310-000 then dial 780-427-1432 www.health.alberta.ca 

OTHER CALLS TO MAKE:
• Contact your lawyer to schedule an appointment for signing the closing documents.
• Contact your bank to ensure your mortgage documents are in order for closing day.
• Contact your insurance company to ensure your house insurance documents are in order for closing day

• The 23rd annual Edmonton Marathon – Wednesday, August 22nd and Thursday, August 23rd
• Edmonton Blues Festival Music – Tuesday, August 21st to Thursday, August 23rd
• Wanderlust 108 – Saturday, August 29th
• Sonic Boom Festival – Saturday, September 5th and Sunday, September 6th

Edmonton, August 4, 2015: Prices for all residential properties in the Edmonton Census Metropolitan Area (CMA) for July were down from the previous month according to the REALTORS® Association of Edmonton. The average all residential price was $372,910 (down 1.4% from June) due mostly to the drop in price of single family homes to $436,948 (down 1.8%). The drop was not felt across all categories with condo prices up 0.4% at an average of $256,708 and duplex/rowhouse prices up 1.4% from June at an average of $356,237. While all residential average prices were down month over month, they still remained 3.3% higher than July of last year.

“This small dip in prices is expected due to our higher inventory and lower sales numbers. We continue to be surprised by how strong prices have been this year compared to last when we had higher sales and very tight inventory. The wait and see attitude of buyers seems to be diminishing, but people continue to be cautious, explains Geneva Tetreault, Chair of the REALTORS Association of Edmonton.

With reported all residential sales in July down 9.8% from June and down 2.8% from last year, average days on market is up to 50. This is up from 46 average days on market in July 2014. Single family dwellings spent an average of 48 days on market in July of 2015, duplex/rowhouses were at 43 days, and condos at 54 days.

We have seen the biggest drop in condominium sales year to date at 14%. That drop coupled with an increase of condo listings of 17% explains why condos are taking longer on average to sell. Some of these buyers may be moving over to duplex/townhouse options which is the only residential category showing an increase of sales of 6% year to date. Tetreault continues, We are seeing the effects of many condominium projects that broke ground when inventory was coming onto the market recently. Condominiums continue to offer the best price point for those entering the housing market and the ease of care and smaller size that appeal to an older demographic.

Higher priced properties continue to keep pace with sales of last year, likely contributing to the strong average prices in 2015 so far. There were 73 properties over a million dollars sold by this time last year, the exact same number as this year.

Inventory is still strong at 7,226 for the Edmonton CMA at the end of July 2015, up slightly from 7,177 in June and much higher than the 5,609 available in July of 2014. All residential listings were up year over year by 14.9% but down month over month from June by 2.2%.

Public Pools – www.edmonton.ca - Edmontonian’s adore their public pools, and they have been a mainstay in our summer fun for more than 80 years. Upgraded with kiddie pools, splash parks and diving areas, these pools are staples of summer days where you can always find the smell of chlorine, screaming school age kids and a freezie from the ice cream stand.

Provincial Park Beaches and Lakes – www.albertaparks.ca - There are plenty of lakes near town that offer great beaches and swimming less than an hour away. Many of these including Aspen Beach, Wabamun, Pigeon, Miquelon and Long Lake are provincial parks and offer great amenities such as restrooms, playgrounds, showers, picnic sites, firepits and boat launches.

Wading Pools And Splash Parks – www.edmonton.ca - For those looking to cool off with the little ones without the stresses of a deep end, there are a growing number of safe and fun locations around town. These are large purpose built spray parks with tons of exciting water play features but the hours vary so check out the (City website) before you go.

River Tubing – www.pembinarivertubing.com - If gently floating down the river on a hot summer day is more your speed, Pembina River is a great place to do just that. An hour west of Edmonton, this river offers magnificent views of a river gorge carved out during the Ice Age. You can take two cars and a couple of tubes on your own, or use the rental and shuttle service offered by Pembina River Tubing.

There are many costs associated with buying your first home or your dream home. There are upfront costs and ongoing costs that you need to consider when planning your home-buying budget.

Upfront costs may include:

- Down Payment – This needs to be ready at time of purchase and its source to be verifiable by the bank.
- Initial and Additional Deposits - This is part of your down payment and has to be accessible when you're placing an offer on a property.
- Home Inspection - Costs of a home inspection runs from $350 to $550 on average, but it can go up to $1500 for larger homes, acreages, and specialty houses.
- Condominium document reviews - When buying condo, having an independent professional to review your documents is really important. Costs vary from $350 to $550.
- Appraisal fees - This cost may be paid by the lender or bank, but in some cases you have to pay the cost again. Costs are between $250 and $550 and up for specialty homes.
- Mortgage Insurance fees - CMHC & Genworth fees are for mortgages with downpayments less 20%. This fee is added to your mortgage. You broker will advise you on the amount.
- Legal fees and disbursement - Legal fees vary from $1,200 to $1,500 and more. Fees are based on the price of the home and the size of your mortgage.
- Moving Costs - This is a hard one to estimate. It can range from a few hundred dollars by just renting a U-Haul to a few thousands by hiring professional movers.

Ongoing costs may include:

- Your Mortgage Payments - This can be in monthly, bi-weekly or weekly terms. The more frequent your payment is, the faster you are paying off your mortgage.
- Home insurance - Home insurance is based on the size of the house and several other factors.

Other regular fees include Property Taxes, Condo Fees, Utilities, Repairs and Maintenance.

Enjoyed by thousands of people, K Days is 10 days, July 17th to 26th, of parades, concerts, food, and fun. In the heat of the summer, the grounds at Northlands are transformed into an arena of endless games and rides, entertainment and concerts, shopping, food and family activities.  Here’s a list of must-do’s to experience the essence of K-Days:

Schedule of Events

The Parade kicks things off at 10 a.m. on July 18. There will also be a mini parade in the midway from July 22 to 26 at 4:30 and 7:30 p.m.

The Koodonation Stage has some of North America’s premiere musical and variety acts. In the day entertainers, like hypnotists, mentalists and tribute acts will warm up the crowd for the night stage.  Koodonation Stage Lineup

The TELUS Stage has the best in local live and community entertainment. Full of rhythm, dance and cultural diversity.  TELUS Stage

Kids Town is a place where visitors are encouraged to take an active part in the community and work in the Construction Zone, Post & Doctor’s Offices, while in the city and learn the true meaning of ‘From Farm to Fork’ while at the ranch.

Klondike Park takes you back to the days of the Klondike Gold Rush and Northlands Park has thoroughbred racing and its Casino providing thrills.

South Stage Concerts

Headstones July 17, 2015
Theory of a Deadman July 19, 2015
Trooper July 21, 2015
Presidents of the Untied States of America July 25, 2015
Lindsay Ell July 26, 2015
Mackenzie Porter July 26, 2015

K Days Official Website