Edmonton Market Update January 2021

Happy New Year!

Give yourselves, and each other, a pat on the back for entering 2021 ready to take on new opportunities! Despite some challenges with showing properties, Canadian real estate activity remained very strong through 2020. Now that we’re moving toward a new era of optimism, 2021 looks like it could be a fun and productive year for real estate. 

Whether you plan to stay put and work from your current home or look for a new one with more square footage (so you can add an even more serious workspace), read on! You’ll love our 10 Tips for an Awesome Home Office. Some of the advice -- lots of light, good storage and some style and personality -- is just as relevant for a personal gym or workout zone. 

If you’re planning to sell or buy soon, check out the 2021 predictions for real estate activity, with percentage price increase expectations for your market. Let’s talk!

I can ensure your property gets strong exposure online and off… and I know what’s out there right now in terms of places that might be a perfect fit for you as you move toward new chapters in your lives. 

Let’s make it happen!

Total Year-to-date Residential Sales up to close out 2020

Total residential unit sales in the Greater Edmonton Area (GEA)* real estate market for December 2020 increased 31.47% compared to December 2019 and decreased 20.65% from November 2020. The number of new residential listings is down year over year, decreasing 0.15% from December 2019. New residential listings are down month over month, decreasing 29.59% from November 2020. Overall inventory in the GEA fell 17.29% from December of last year...READ MORE.

The work-from-home (WFH) trend is here to stay. Here’s how to make it as cool as can be!

Design your space to fit your work style. 
Side hustle or skyrocketing commercial enterprise? You’ll need to decide whether to 1) add an office nook to your kitchen; 2) convert your guest room to a profit centre or 3) buy an Airstream Globetrotter (bus-like RV) and park your new home-office-on-wheels in the driveway for easier shipping and receiving! 

Fill it with as much light as possible. 
Light boosts productivity. Natural light from windows and skylights scores highest and, if you’ve got that going, add living plants for more oxygen, too. Otherwise, fill-er up with fixtures and stock up on lightbulbs!

Save your back. 
Splurge on an ergonomic, high-performance captain’s chair. You’re going to spend hours in it, so take full control of your own comfort and health.

Give yourself serious surface space. 
A cluttered, old desk or table – with no room for everything you’re working on – leads to a messy business. You’re serious about your business, right?

Try a stand-up desk. 
Going vertical could heighten your productivity! These come in two varieties: High-end furniture pieces and makeshift inventions. You decide. You’re the boss here, after all. If you want to use a bar-cart, that could work.

Connect with high-speed Internet. 
Your customers & community expect it. This is now the era of empowering Zoom meetings and seamless e-commerce. Think fast!

Set up sensible storage, so you can really organize your stuff. 
Use drawers, a filing cabinet, even an entire wall of storage compartments to ensure everything has its place and you can quickly find whatever you need.

Give your space style & personality. 
Dress it up for Zoom video calls! Feel good – and help others feel good – about you, your company and your brand. Don’t forget to add inspirational artwork!

Avoid merging work & leisure in one zone, if possible. 
At worst, it’s a recipe for disaster (think spills and equipment getting wrecked). At best, it’s still an intrusion on either 1) work productivity or 2) leisure-time fun.

Get some of the latest, greatest home office furniture & devices. 
Check out the new wall-beds (aka Murphy beds) with desks. This is a great idea for guest room – office conversions. And then some.

What can we expect to see happening with Edmonton real estate in 2021? That depends who you ask. 

While we wait for the annual expert reviews and predictions (usually in early February; watch for our coverage), we’ve mostly been hearing from economists and the realty firms that the 2021 activity and pricing across the country should be similar to 2020 or “up” slightly. That means a price increase of somewhere between 4% and 6% nationally according to some. Here in Edmonton, it should translate to about 2%, putting the YEG average price somewhere in the high-300’s. 

Factors currently shaping the real estate market here include COVID-19, low interest rates, oversupply of apartment-style condos (downward pull-on overall pricing) and continued strong demand for single family homes with more space for offices and gyms, large, fenced yards for dogs, kids and food gardens. 

Thinking of listing? Right now, could be a great time to do so! Looking for a new place with more space (for the swanky home office and gym)? I know where you can find it.

If you want to surround yourself with the natural beauty of Edmonton’s river valley, take a look at Riverdale. This neighbourhood is often described as being one of the city’s most attractive. 

Enclosed by the North Saskatchewan River to the east and south, and by the high cliffs of the valley on the west and north, it is a well-established community on a large, flat area about a mile away from the downtown core. Originally settled more than 100 years ago, it was the site of heavy industry, with coal mining, brick manufacturing and a lumber mill. Today, many character homes remain, along with a small church and brick school in a setting full of mature trees. 

Parks near Riverdale include Allan Stein, Dawson, and Louise McKinney Riverfront Park. The nicely-landscaped Riverside Golf Club is here, too. Like other close-to-the-core communities, Riverdale real estate ranges from entry level condos and half-duplexes (still very stylish and comfortable) to luxurious single-family homes on multi-acre lots, many with great views.


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