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Edmonton Real Estate: Buyer’s Market!
Hello and Happy Fall All!
Ok so Edmonton is a Buyer’s Market – What does that mean exactly?
Definition: A buyer’s market is a situation in which supply exceeds demand, giving purchasers an advantage over sellers in price negotiations.
Where we are now is at a RECORD LEVEL of INVENTORY in Edmonton. Meaning there has never at any point in time been MORE Properties on the Market than there is at this time – as a result – Buyers have TONS to choose from.
What does this mean for Sellers?
Sellers now more than ever need to price their home very, very competitively or offer significant value.
How Buyers Shop: Buyer’s typically will look in their price range – usually within a range of $25 000 – $50 000 and will compare properties in that range. What I always tell sellers: “We need your house to look like a fruit loop in a bowl full of cheerios” Your house truly does need to stand out in your price range in order to attract any interest at all – let alone an offer!
Project Update:
Hamptons Heights
Built by Vicky’s Homes
STARTING @ $349900
Duplex Style Complex with TRIPLE CAR GARAGES!
Beginning of phase 1.
2 brand new showhomes opening June 30th.
Lessard Villas
Duplex Style Bungalows with Attached Garage – Perfect for Downsizing into Maintenance free living!
Starting last phase of construction .
Brand new showhome opens June 30th.
SOLD – FANTASTIC RENOVATION IN RHATIGAN RIDGE – RIVERBEND
Welcome to 808 Richards Cres in Rhatigan Ridge in Old Riverbend!! This 2400 Square Foot Home had HUGE POTENTIAL – and we fell in love with it the moment we first viewed it!
Renovation Highlights:
This Home was on the Market for 60 Days – In the desirable neighbourhood of Rhatigan Ridge before it was purchased by one of our clients for a good price. The Renovation lasted 6 months and during that time Ricky marketed the home and through networking with other realtors found a buyer for the Home – as a result the Buyer was able to select the final touches of the renovation and customize it to their tastes. If you are looking to purchase a home in the Riverbend area – contact Ricky @ RICKYHILL@REMAX.NET to discuss the number of upcoming listings and get a jump on the market!
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