Prevailing trends in Edmonton, Alberta real estate market

You may be thinking of investing in real estate in Alberta. In such case, Edmonton, the capital of Alberta province may well be the location of your new home. So, you will need to keep yourself updated about the recent trends in the Edmonton real estate market.

Here are some points of interest highlighting the current happenings in Edmonton real estate market-

- The Edmonton real estate market is really hot now. The average prices of homes are up by 39% since a year ago. Moreover, the homes are being sold with multiple offers and at prices over the list prices.

- The apartment vacancy rate has been falling over the past year, the decline, having been the biggest year over year fall of Canada’s 28 major markets.

- With the entry of more and more persons (for taking up the emerging jobs etc.) into the city and supply of housing for sale dwindling not only have the home prices been skyrocketing but even rental rates have been increasing considerably while vacancy rates have plumped.

Some real estate market observations

However, from an investor’s viewpoint the rents have not been rising as much as the housing prices. So, investors buying property for renting are not too comfortable. They are either making huge down payments in the year or are having to run with a negative cash flow on the property.

It has been observed that condominium rentals are more popular then the home rentals. Vacancy rates for rental condominium rentals lied below 1%. An increasing number of newcomers had caused increase in demand for rental units. Although all unit types had low vacancy rates i.e. below 1.5% the largest decline was reported in the 2 bedroom units.

Edmonton- a city holding immense prospects of opportunities in real estate

In Edmonton the real estate market is set in balance for undertaking a strong and long successful run. This city has consistently been offering some of the most affordable housing opportunities among cities of similar size in Alberta and it is projected that it will continue to do so for quite some time. The city has, of late, been offering something for everyone. Whether you are looking for a urban lifestyle home atmosphere or you are seeking to adopt a suburban style of home living (with a small town feeling) you will get something worthy here. You can even satisfy your craving for a dwelling in the rural atmosphere in acreages situated at an hour’s drive distance from the city.

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Jason Uvios writes about on Prevailing trends in Edmonton, Alberta real estate market to visit :- alberta real estate find homes, alberta nursing homes and homes for sale calgary alberta

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