Jason Beattie

During the first 6 months of 2011 there were 112 condo sales with a total of 231 condos on the market in Sherwood Park, Alberta. Currently there are only 74 active condo listings therefore this mean that there were an additional 45 condo listings that were on the market that didn’t sell during the first six months of 2011. The Average condo listed was 2 bedroom, 1 bath condo that was about 1,178 sq. ft. The average list price was $307,233 with a per square foot average list price of $256.76. The average sale price for a condo in Sherwood Park during this period was $296,365 with an per square foot average sale price of $256.76. The average sale price to list price was 97% and the average days on market was 53.

The least expensive condo that is currently listed for sale (1 Bedroom / 1 Bath / 613 square foot condo in Woodbridge Farms, Wood Bridge Manor) is listed for $147,500 and the most expensive condo (2+1 Bedroom / 3 Bath / 1,380 square foot Condo in The Ridge, Silver Oaks II) is listed for $534,333.

The least expensive condo that sold last during the first 6 months of 2011 in Sherwood Park (3 Bedroom / 3 Bath / 1,054 square foot in Woodbridge Farms, Wood Bridge Manor) was listed for $157,700 and the most expensive condo that sold during this time in Sherwood Park (1+2 Bedroom / 3 Bath / 1,379 square foot in The Ridge, Silver Oaks II) was listed for $559,900.

With 112 sold condos in the first 6 months of 2011, an average of 18.67 condos sold each month, and with 74 condo listings currently available in Sherwood Park, Alberta , we would have enough homes on the market for a absorption rate of 3.96 months. This means that if not another home comes on market (which isn’t very likely) in Sherwood Park, Alberta, there is almost a 4 month supply of condos on the market. This is a little on the high side considering the condo market typically sees a slow down as we getting deeper into the year.

If you have a condo in Sherwood Park, Alberta and would like a free market analysis to see what you home is worth, call me now and we can arrange a meeting. If you would like to know what other homes have sold for in your complex, contact me, and I will send this too you free, every time a new condo sells in your building.

I specialize in selling condos in Sherwood Park Alberta and I would enjoying meeting you to speak about the current condo market. I look forward to hearing from you.

Click HERE to view more information on Sherwood park condos.

During the first 6 months of 2011there were 112 condo sales with a total of 231 condos on the market in Sherwood Park, Alberta. Currently there are only 74 active condo listings therefore this mean that there were an additional 45 condo listings that were on the market that didn’t sell during the first six months of 2011. The Average condo listed was 2 bedroom, 1 bath condo that was about 1,178 sq. ft. The average list price was $307,233 with a per square foot average list price of $256.76. The average sale price for a condo in Sherwood Park during this period was $296,365 with an per square foot average sale price of $256.76. The average sale price to list price was 97% and the average days on market was 53.

The least expensive condo that is currently listed for sale (1 Bedroom / 1 Bath / 613 square foot condo in Woodbridge Farms, Wood Bridge Manor) is listed for $147,500 and the most expensive condo (2+1 Bedroom / 3 Bath / 1,380 square foot Condo in The Ridge, Silver Oaks II) is listed for $534,333.

The least expensive condo that sold last during the first 6 months of 2011 in Sherwood Park (3 Bedroom / 3 Bath / 1,054 square foot in Woodbridge Farms, Wood Bridge Manor) was listed for $157,700 and the most expensive condo that sold during this time in Sherwood Park (1+2 Bedroom / 3 Bath / 1,379 square foot in The Ridge, Silver Oaks II) was listed for $559,900.

With 112 sold condos in the first 6 months of 2011, an average of 18.67 condos sold each month, and with 74 condo listings currently available in Sherwood Park, Alberta , we would have enough homes on the market for a absorption rate of 3.96 months. This means that if not another home comes on market (which isn’t very likely) in Sherwood Park, Alberta, there is almost a 4 month supply of condos on the market. This is a little on the high side considering the condo market typically sees a slow down as we getting deeper into the year.

If you have a condo in Sherwood Park, Alberta and would like a free market analysis to see what you home is worth, call me now and we can arrange a meeting. If you would like to know what other homes have sold for in your complex, contact me, and I will send this too you free, every time a new condo sells in your building.

I specialize in selling condos in Sherwood Park Alberta and I would enjoying meeting you to speak about the current condo market. I look forward to hearing from you.

Click HERE to view more information on Sherwood park condos.,

Think about being a buyer of a condo, very similar to buying a business. You are not just buying a home but all the added resposibuility of the Condominium corporation. This should not feel daunting I just suggest that you do your home work and select professionals that have a great deal of experience in the process.

Most document packages that our clients receive include the operating budget for the year and the latest year end financial statement. These documents are necessary so that the condo Buyer or their representative have markers to measure the current financial picture against. The current financial statement & balance sheet ideally is dated the month end prior to the month the review is being completed, at the least 60 days prior. Think of this as the document that is comparable to your personal monthly statement from your bank. The balance today is never the same as the balance a year earlier or even a month earlier.

Can you imagine taking possession of your condo and the management company forgot to provide you with current and accurate condo documents. You could have just bought a condo that looked like it had a substantial reserve fund only to find out the next month that they actually used all of it for a project and the bank account is low.

There are a few ways that you can minimize the chances of this happening. One is to hire a specialist to review the condo documents. Find a specialist that their only focus is looking at these documents. You wouldn't ask a family doctor to do heart surgery... you wouldn't ask a Realtor to help you find a condo if they didn't have a great deal of experience so why would you ask somebody who only reviews a couple condo corportation documents a year.

Errors happen, there is also a simple way to be able to protect yourself if an error had occurred in the condo documents and that is called title insurance. There are some title insurance companies that will cover errors and ommisions in regards to the condo documents.

By taking a few simple steps to ensure you are protected, you will be able to enjoy the excitement of the move and an experience that most people expect from the process.

Just like Bats and Bears, many home Buyers have spent the month of January under a thick layer of snow. The Edmonton real estate market had been really slow, but ask yourself, what were you doing other then shovelling, digging your car out or admiring the temperature swings from 30 below to plus 10 over night.

See the Realtors' Association of Edmonton's press release below.

Everyone I meet is asking what the spring will be like. I believe that many signs are displaying improvement for our ecconomy which will extend to the real estate market. I believe that we will have a balanced market that will see modest gains in housing prices over the entire year. I am seeing housing inventory increase at a steady pace and therefore I have a little concern with the amount of inventory that could be coming to market.

If you would like specific information on what is happening in your neighbourhood either call or email me and I would be happy to update you and provide you a FREE report on your neighbourhood.

Homebuyers dig into snow banks not wallets in January

Edmonton, February 2, 2011: According to the REALTORS® Association of Edmonton the average price of housing increased slightly in January as compared to the previous month. The all-residential average price rose three quarters of a percent to $310,766; up from $308,497 in December. Single family homes rose a quarter of a percent while condo prices dropped just over one percent during the month.

Residential sales of 735 were on par with December sales (834) and sales in January 2009 (775) but off 21% from the same month last year (931). Residential listing activity rose from 1,102 units in December 2010 to 2,142 units in January. Inventory of homes on the Multiple Listing Service® System decreased from 5,721 at year end to 5,633 as of January 31.

"Traditionally the market dips in December but inventory starts to build in January to supply the spring market," explained REALTORS® Association of Edmonton President Chris Mooney. "Prices are up slightly but the cold weather seems to have kept buyers and sellers out of the market. We expect sales activity to increase along with spring temperatures and continue all through the first two quarters."

The average* price of single family dwellings in January was $356,276 with a median price of $349,900. Condo average price was $220,993 with a median of $214,000. Duplex and rowhouse prices also dropped on average from $315,163 to $297,587 a 5.6% drop. All prices reflected sales across the entire Edmonton region including surrounding communities and counties.

Mooney suggested that changes to mortgage qualification rules would not have the same effect that last year's rule changes had. "In 2010, people reacted early to the changes and completed their home purchases earlier than usual. The reduction from 35 to 30 year amortization limits will come into effect on March 18 but we do not expect it to affect a large number of purchasers," said Mooney.

The average days-on-market in January was 67 days up from 53 last year. The residential sales-to-listing ratio was a low 34% in January and total MLS® System sales were almost $253 million.

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Highlights of MLS® System activity

¹. Residential includes SFD, condos and duplex/row houses.
². Single Family Dwelling
³. The middle figure in a list of all sales prices

* Average prices indicate market trends only. They do not reflect actual changes for a particular property, which may vary from house to house and area to area. Prior period figures have been adjusted to include late reported sales and cancellations and therefore reflect a more accurate view of the period than previously reported at month end.

I just recieved this email from someone that we respect greatly. If you would like more info, please don't hesitate to call me.

Hi Everyone,

Here is an important update. Fixed rates are going up today and tomorrow by as much as 30-40 basis points accross the board.

If you or anyone you know is thinking about buying or refinancing, they need to get pre-approved right away to lock in a super low 3.49% fixed rate. It won't last for long and could change at any minute.

So call me right away so you don't miss out on this opportunity to save some serious money.

This applies to purchases and complete refinances only, locking in a varialbe rate will depend on which lender you are with and their current rates at the time.