While the economic outlook across Canada looks pretty bleak as, according to Chrystia Freeland, Federal Finance Minister said Wednesday that

"Difficult days ahead as Canada's economy shows signs of weakness". 

While that may be true for Canada as a whole, Alberta is poised to maintain stability despite the national challenges. ATB Financial deputy chief economist Rob Roach said recently that:

We’re still going to experience those rough waters here in Alberta, but because we’re doing a little bit better — commodity prices and other positive things — we’ll be able to weather that storm a little bit better than other places. Energy, commodities and agriculture will be the “main drivers” of Alberta’s economic growth”.


People of all demographics are flocking to Alberta for economic stability and opportunities not seen or projected in other parts of the country.  Still need more reasons to move to Edmonton?  Here are our Top 10 Reasons to Move to Edmonton:



1. The cost of living is affordable

If you’re sick of the high cost of living in major Canadian cities, then moving to Edmonton may be the right choice for you. The average rent for a one bedroom apartment in Edmonton is only $935 CAD, while the same type of apartment in Toronto costs an average of $2,260 CAD.

2. The economy is strong. 

Boosted by strong commodity prices, Alberta's economy is forecast to grow 5.0%  in 2022 and 3.0% next year and will be one of the top performers in the country this year.

3. There are plenty of jobs available. 

Alberta’s unemployment rate has ticked down every month since October 2021 and fell to the lowest level in seven years in July. 

4. You can enjoy a high quality of life without spending a lot of money. 

Living in Edmonton is more affordable, than other provinces. Edmonton offers higher incomes and lower cost of living due to no provincial sales tax, no health care premiums, and low average rental prices.

5. The city is growing quickly and there are lots of new opportunities opening up all the time. 

Alberta added 40,253 residents in the second quarter of 2022, boosted by accelerating interprovincial migration gains and continued strength in immigration.

6. Edmonton is a great place to raise a family. 

With its low crime rates and abundance of green space, Edmonton is regularly ranked as one of the best places to live in Canada. As well, Edmonton is home to some of the best post-secondary institutions in Canada. Amongst many specialized post-secondary institutions, three highly rated schools, MacEwan University, NAIT, and the University of Alberta, obtain admissions from around the world.  

7. There are plenty of cultural activities and events happening throughout the year. 

Edmonton is home to a thriving arts and culture scene. The city is home to numerous museums, art galleries, and performance venues. There are also many festivals and events held throughout the year, including the Edmonton Folk Music Festival and the Fringe Theatre Festival.

8. The people in Edmonton are friendly and welcoming. 

Most people who move to Edmonton are impressed by the friendliness of Edmontonians.

9.It’s easy to get around the city – there are lots of transportation options available.

There are plenty of ways to get around the city. You can take the bus, the train, or a taxi. Or, if you want to explore on your own, you can always rent a bicycle or walk. Whatever means of transportation you choose, you'll be able to get where you need to go easily.

10. Edmonton offers endless possibilities for outdoor recreation – from skiing or snowboarding in the winter months, to hiking or biking during the summertime!

From hiking and camping in the beautiful river valley, to cycling and picnicking in one of the many parks, there is something for everyone to enjoy. With numerous trails and recreational areas to explore, Edmonton is the perfect place to get outside and enjoy the fresh air!

If you’re on the fence about whether or not to move, we hope that this list has helped tip you in favor of Edmonton. With its affordable housing, great job market, and wonderful community spirit, there are plenty of reasons to call Edmonton home. Are you convinced? If so, get in touch with us – we can help make your move a smooth one.

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Edmonton Real Estate Market Report: Quarter Three, 2022


2022 has been a wild ride with extreme changes, not unlike the weather in Edmonton.  Unprecedented amount of factors including the pandemic, rising interest rates, gas prices, inflation, and the war in Ukraine all contributed to an everchanging and quick adjustments in the Real Estate market.

The first quarter offered sellers an incredible opportunity as interest rates remained low, buyers were highly active, and inventory was sparse.  With lineups out front doors, multiple offers, and quick sales - buyers were at an incredible disadvantage and some were left with nothing to buy. While sellers who acted fast and listed their homes early in the year, enjoyed the quick sales and opportunity to move.

The second quarter of the year brought many more sellers to the market as they were catching wind of how much and how fast properties were trading for at the start of the year and buyers began to get a reprive from the agressive market; however homes in the SW of Edmonton continued to prevail as the hottest and most in demand homes.

This past quarter has been much slower than the previous two, ending with lots of available inventory that does not quite match the current needs of buyers.  A shocking 70% of all Single Family Homes that sold during Q3 in Edmonton were under $500,000; while currently only 60% of available invertory is priced at that level.

Fewer homes sold in Q3 of 2022 than they did in Q3 of 2021:

What is more interesting, is the value of the homes that sold in Q3 of 2022.  Over 70% of all Single Family homes sold, in Edmonton, were under $500,000:

The current available inventory of homes for sale in Edmonton does not match the previous wants of buyers, with a higher level of inventory in the luxury market then is actually selling.

If you are a seller in this market, there are a few tips to stay competitive to get your house sold before winter takes hold:

For Sellers:

  • PRICE: Currently, buyers tend to be pickier about the price they’re willing to pay due to rising interest rates and a lower affordability threshhold. Really hone in on the listing price you’re comfortable with — if you want to sell quickly, consider listing it on the lower side.
  • CURB APPEAL: Never underestimate the power of a well-manicured lawn and pretty flower boxes to grab the attention of potential buyers. Make sure the front of your house is looking its best — you never get a second chance to make a first impression. Buyers often drive around their preferred neighbourhoods window shopping, so give them show-stopping curb appeal they can’t ignore.
  • KNOW YOUR WEAKNESSES: While hiring a house inspector is usually done by buyers making an offer, get ahead of the game and hire one as a seller. Having that report available for potential purchasers takes one task off their plate and that might swing the scales.
  • SHOW THE BEST: Nothing puts off potential buyers like a home they can’t even see thanks to stacks of papers, overflowing cupboards and messy countertops. Go through each room and pack up 50 per cent of the “stuff” — then store, donate or trash it. When people walk into their potential dream home, they want to see large, airy rooms not shelves packed with personal knickknacks.
  • APPEAL TO THE MASSES: Millennials make up the largest cohort of buyers in Canada right now so consider adding features that appeal to this generation. Consider upgrading lighting, hardware or even appliances - $2000 upfront could mean the difference of a sale.
  • STAND OUT:  it’s all about making your property stand out in a sea of comparable properties. Offering something more creative than just your regular financial incentives, such as prepaying taxes or a year’s worth of landscaping services or paying homeowners’ association dues are just two examples of outside-the-box incentives.

 

If you are a buyer in this market - you may be able to secure that high value home at a much lower price; however read below for tips on maximizing the value in this current market:

For Buyers:

  1. Get Pre-Approved: There is nothing more defeating then looking at a home you come to learn, you can not afford.  It also gives you the opportunity to shop around for the best deal and the best interest rates. 
  2. Work with an Agent: Even before you start looking, even before you attend an open house.  A professional can and will give you more options and ensure you stay on the competitive track when negotiating for your dream home.
  3. Have a Buget and a Plan:  Of course, you won’t be able to afford everything on your wish list. So, make two lists: everything you want in a home and everything you can’t live without.   
  4. Do Not Get Dstracted by the Pretty Things.  Houses are an investment, they cost money.  Shocker right?  When you have the pick of available homes you should put higher value in the mechanical and structural integrity of the home.  Roof! Furnace! Windows! Plumbing! Electrical! Foundation!  These are the BIG TICKET items that should be the highest priority - not the wallpaper in the bathroom.
  5. Consider Future Revenue: With so much uncertainty about the economic future, you might want to consider purchasing a home that could or does have a secondary suite (ie. basement suite).  While you never have to rent it, having the option in the future could offset some expences if jobs, economy, or life took an unexpected turn.
  6. Location is Everything.  A home can be renovated, the location cant.
  7. Put Together an ICONIC Home Buying Dream Team: including an experienced  real estate agent, professional home inspector and mortgage lender; if you’re buying investment property, add a tax expert and a real estate attorney. All of these professionals should willingly and kindly share their knowledge and expertise. If not, find someone else.

Everyone needs a plan, and we can help.

 If you are a buyer or a seller looking to make a move in Edmonton - contact us for more information on how to be the most competitive and ensure you are getting the highest level of value.


 
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Moving to Edmonton comes with its own unique set of challenges: How do you find a place to live?  What neighbourhood should you choose? This series aims to help you not only help you find your perfect home, but help you find your ideal neighbourhood!


So you are moving to Edmonton?! Whether you’re relocating for a job, to go to school, to pursue a passion, or simply for a new adventure, you’re far from alone, according to Avenue Living:

"Living in Edmonton provides great value for money with lower monthly rent than Calgary, another major city in Alberta. While, oil and gas is the key industry, there are other great working opportunities in education, police services, health & medical, and government"

In this series we will identify the best areas, according to us, that you should consider when you are moving to Edmonton - first up: Riverdale!

Riverdale - Edmonton's Garden Community

History

 The area which would later be called Riverdale was the first industrial suburb of Fort Edmonton and is one of the oldest neighbourhoods in the city. Even today, in 2022, it is one of three neighbourhoods nestled among the River Valley in Edmonton.

Once it was home to the Cree, a First Nations people. The search for gold in the 1860s saw early European visitors, and they were followed in the next 30 years by settlers who established wheat fields, steamboat landings, ferries, lumber and grist mills, coal mines and a brickyard. Workers first lived on site, but soon spread beyond the bunkhouses. Everyone called this area Fraser Flats, after the owner of the lumber mill.
Clay, water and abundant trees for fuel made this river flat a perfect place to make brick. The needs of a growing town and the enterprising spirit of James Brown Little combined in 1893 to found a century-long dynasty of brick makers. Said to be “the most consistently high-quality brick of its time,” the Little product helped build early 20th century Edmonton. J.B. and his descendants established many long-standing social traditions of the district and sponsored hockey and baseball teams for years. Today the brickyard has been developed into residential house, but J.B.’s brick house still stands and is home to Little Brick, a trendy café enjoyed by Riverdalians and river-valley visitors alike.
In 1905 the area was subdivided and a land boom quickly saw the present residential shape take form. Determined and hard-working neighbours knit together a highly-textured social fabric that continues to this day: some families are sixth-generation.  - Riverdale Community League

What does Riverdale offer?


Besides the immense River Valley network where the average central Edmontontian can be found cycling, running, hiking, or boating - Riverdale offers so much more, and these are our top destinations:

  1. Dawson Park
  2. Dog Patch Restaurant
  3. Little Brick Cafe
  4. Tawatinâ Footbridge
  5. Edmontons Funicular


If you are considering a move to Riverdale or have questions, contact me - we can grab a coffee or go for a walk and check out all the best spots!

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With a unique blend of services, shops, and restaurants, The Edmonton Brewery District is perfectly conducive to hassle-free urban living. Here are a few reasons why you will want to call it home:


The Brewery District is Home to a Diverse Population of Edmontonians

Students, seniors, and young professionals alike have made their homes in the centre of the city. Families, empty nesters, and young adults out on their own for the first time effortlessly create an attractive vibe in The Brewery District that makes it feel welcoming, accessible, and inclusive. With amenities to support residents of all ages and stages of life, there is something for everyone.

Shop ‘til You Drop

The surrounding amenities provide everything you need just a few steps out of your front door. Loblaw’s City Market is your one-stop-shop for all
your favourite products. Offering fresh produce, ready-made food for on-the-go, and household essentials, you can shop for quality items at affordable prices. They also offer curbside pickup for those continuing to be COVID-conscious. With over 40,000sqft of space, GoodLife Fitness attracts fitness lovers from all over the central core who are looking for an affordable, full amenity workout space. Your journey to optimizing your health and wellness will be well supported with GoodLife’s group classes, personal trainers, and accessible exercise equipment.

Another popular anchor store in The Brewery District is MEC, which serves the adventure enthusiasts of the neighbourhood. Supplying all the essentials for outdoor activities, you’ll find yourself planning your next adventure as you browse the aisles.

Access to Educational Institutions

One of the benefits of The Brewery District is its ideal location for those wanting to be in close proximity to fantastic educational
institutions. MacEwan University is just down the road from The Brewery District – accessible on foot during the warmer months and serviced by frequent public transport for the colder seasons. Students, faculty, and staff will love the ease of living close to the University as they create that “University Town” feel in the middle of the city. Without the stress of a commute, The Brewery District is the perfect place to put down roots if you’re affiliated with the University.

For those with kids in grade school, Edmonton Academy is in the neighbourhood to offer specialized teaching for students who have learning challenges. Additionally, Oliver School also offers K-9 programs within the Edmonton Public School system.

Nearby Outdoor Spaces

Even though The Brewery District is located just alongside the downtown core, there is no shortage of outdoor spaces. Paul Kane Park offers a
great picnic spot with a water feature, tall trees for shade, paths, and benches for you to relax on your Sunday morning stroll. It is a serene spot loved by the community, and you might just be lucky enough to spot a small wedding or photography session taking place.

If you’re looking for a place to cool off during the summer heat, Oliver Outdoor Pool and a park are just across the road. Kept at a comfortable 29°C, Oliver Pool is a fun, family-friendly atmosphere that is easily accessible for urban residents. There are change rooms on site, a water slide, a sundeck, and a concession stand for when you’re feeling peckish. Keep in mind, their 2021 summer season is running at reduced capacity, so book a spot in advance!

Just a few blocks from The Brewery District sits the new Manchester Square re-development boasting its unique architecture and European-like grace. An outdoor fountain, promenade, and 19 locally owned businesses call this getaway spot home. This is the perfect spot to escape for an afternoon on foot with a coffee in hand and a reusable bag full of goodies.

Of course, most importantly is 121 West – the one place you will want to call home to be nearby all the places you’ll love to explore in The Brewery District. 

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Copyright 2022 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.