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BUYING TIPS

Why is it so important to have a mortgage pre-approval in place before looking for a home? Here are 4 reason why it is beneficial to a buyer. 

1.  It lets you know how much you can or want to spend. 
Buying a home is a major investment, and most of us aren’t paying cash for the whole thing up front. When you get a mortgage pre-approval, you’re able to set your budgetary limits and make sure that any home you’re looking at is a home that you will be able to finance. Your mortgage broker can show you ahead of time what your mortgage payments will be for the different price ranges you’re interested in looking at. 

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Market Stats

The real estate market continues to be a sellers market for most of the tri-region. Acreage sales have dropped a bit in July. Over all we normally see a bit of a slow down over the summer months but August seems to be picking back up so far. 

Here is a break down of July 2021 VS July 2020!!!

S T O N Y    P L A I N
Sales ⬆️ 32%
Ave. Price ⬆️ 10%
Days on Market ⬆️ 4%

S P R U C E    G R O V E 
Sales ⬆️ 33%
Ave price ⬆️ 10%
Days on Market ⬇️ 45%

P A R K L A N D    C O U N T Y 
Sales ⬇️ 35%
Ave Price ⬆️ 10%
Days on Market ⬇️ 38%

April Market Stats

The real estate market continues to be a sellers market in the tri-region. But it is important to remember that last April was the first wave of the global pandemic and it impacted our market greatly last year. 

Here is the break down from April 2020 vs April 2021 for all residential and country residential. 

In Stony Plain, 
Sales were up 188%, average sale price was down 7.9% and the  average days on market was down 47%

In Spruce Grove,
Sales were up 311%, average sale price was up 13.5% and the average days on market was down 40% 

In Parkland County,
Sales were up 407%, average sale price was up 0.8% and the average days on market was down 56%

We have about 1.5-2.5 months of inventory in the tri-region which is a strong sellers market so if you’re are planning to sell your home this year now is the time. 

If you have any questions about the market please contact me

January 2021 Tri-Region Market Update

In Stony Plain we have the same amount of inventory compared to Jan 2020 but sales increased by 33%

In Spruce Grove we have 23% less inventory compared to last January and we had a 59% increase in sales!!

In Parkland County we have 36% less inventory compared to last year at this time and sales increased by 110%. Last year we only had 10 sales all January and this year we had 21 sales!! 

2020 TRI-REGION MARKET STATS

In Stony Plain we saw a 4.09% increase in sales in 2020 compared to 2019. The average days on market had decreased and the average sale price increased by 8.9%.

In Spruce Grove we saw a 14.8% increase in sales, the average days on market also was less and the average selling price decreased by 0.5%. 

In the County of Parkland we saw a 36.3% increase in sales in 2020 compared to 2019 (WOW). The average days on market decreased and the average sale price increased by 2.4% compared to 2019.

Tri-Region Market Update for Oct 2020

Sales were up in all 3 municipalities of the Tri-Region compared to Oct 2019. The days on market were lower, the inventory is down and average selling price has gone up!!

This is amazing news for the middle of a global pandemic. I think this is due to the low interest rates at the bank, if you’re thinking to buyer or sell now is the time!!

TRI-REGION MARKET UPDATE

July 2020 vs July 2019

STONY PLAIN
Sales are down ⬇️ -5.2%
Ave. Price is up ⬆️ 3.8%
DOM down ⬇️ from 59 to 47

SPRUCE GROVE
Sale are up ⬆️ 37.7%
Ave. Price is down ⬇️ -7.7%
DOM are down ⬇️ 75 to 60

PARKLAND COUNTY
Sales are up ⬆️ 153.1%
Ave. Price is down ⬇️ -0.2%
DOM are down ⬇️ from 86 to 73
Acreage sales sky rocketed for the month of July!! In July 2019 we had 32 sales & this July we had 86 sales!!!

Market Update

The market is definitely starting to heat back up since the outbreak of the pandemic. We are starting to see more sales compared to April/May of this year.