Win an Ultimate Road Hockey Prize Package + signed Connor McDavid gear!

Mon, 10 Feb 2025 06:21:00 GMT

GAME ON! 🏒🥅 You could win an ultimate road hockey prize package + signed Connor McDavid gear in the RE/MAX Play Like a Pro Contest! Let me know if you need any modifications or formatting changes!

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RAE Housing Forecast Summary

Tue, 28 Jan 2025 17:07:00 GMT

The housing market is always evolving, and staying ahead of the trends is key whether you’re buying, selling, or simply keeping an eye on your investment. The 2025 RAE Housing Forecast has revealed some insightful trends that could reshape our local market. In this video, I’ll break down the top three takeaways from the forecast and highlight two major mortgage changes that are poised to make a big impact.

Hockey and Real Estate Biggest Name

Wed, 22 Jan 2025 13:51:00 GMT

Edmonton trusts McDavid to lead us to victory and McDavid trusted RE/MAX River City to find his family home ❤️🏒

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Canada’s Condo Market in 2024: Rising Inventory, Market Shifts, and What’s Next

Fri, 01 Nov 2024 11:13:00 GMT

The Canadian condominium market has been experiencing significant changes in 2024, with an increase in inventory, fluctuating prices, and shifting buyer dynamics. Between January and August 2024, RE/MAX analyzed condo activity in seven major markets across the country, including Greater Vancouver, Fraser Valley, Calgary, Edmonton, Greater Toronto, Ottawa, and Halifax.

Sellers Return as Condo Inventory Levels Surge

A key trend emerging from the report is the double-digit increase in condo inventory in most major cities, as sellers anticipate stronger demand heading into Q4 2024 and early 2025. The highest inventory growth was seen in:

• Fraser Valley (+58.7%)

• Greater Toronto (+52.8%)

• Calgary (+52.4%)

• Ottawa (+44.5%)

• Edmonton (+17.7%)

• Halifax (+8.1%)

• Vancouver (+7.3%)

Despite this rise in inventory, condo values have remained relatively stable, with price increases recorded in Calgary (+15%), Edmonton (+4%), Ottawa (+2.3%), Vancouver (+1.9%), Fraser Valley (+1.9%), and Halifax (+1.2%). Meanwhile, Toronto was the only major city where average condo prices dipped (-2%) compared to the previous year.

Edmonton Leads Canada in Condo Sales Growth

One of the biggest takeaways from the report is Edmonton’s impressive surge in condo sales. The city recorded a 37% increase in condo sales compared to 2023, marking its strongest performance in the past five years.

Why is Edmonton’s Condo Market Booming?

1. Affordability – Edmonton remains one of the most affordable real estate markets in Canada, attracting first-time buyers, investors, and out-of-province buyers from Ontario and B.C.

2. Migration Trends – A growing number of Canadians are moving to Alberta due to its lower cost of living, employment opportunities, and business-friendly environment.

3. Investor Interest – Unlike many other Canadian cities where investor activity has slowed, Edmonton has bucked the trend. Investors are taking advantage of the city’s low development costs and strong rental demand, revitalizing older condo stock and renting units out at competitive rates.

4. Steady Price Growth – With condo values increasing by 4% year-over-year, Edmonton continues to show resilience, making it an attractive market for both end-users and investors.

How Other Canadian Markets Compare

While Edmonton saw the largest percentage increase in condo sales, Calgary also posted modest gains, with sales rising 2.6% compared to 2023. However, other major cities saw condo sales activity slow, reflecting cautious buyer sentiment and economic conditions.

Toronto, in particular, remains in a more sluggish market phase, with investor activity slowing due to high mortgage carrying costs. According to RE/MAX, as many as 30% of investors in Toronto have experienced negative cash flow on rental properties, making them hesitant to expand their portfolios until interest rates decline further.

Interest Rate Cuts: The Calm Before the Storm?

Despite buyers returning to the market, many remain hesitant due to high borrowing costs. The first two Bank of Canada interest rate cuts in 2024 had only a limited impact on buyer confidence, as the overall interest rate environment remains high. However, further rate reductions expected in 2025 could act as a major catalyst, bringing:

• More first-time buyers into the market

• Stronger investor confidence as mortgage carrying costs ease

• Increased demand for affordable condo units

According to RE/MAX Canada President Christopher Alexander, this moment represents a unique opportunity for first-time buyers, as investor activity has slowed in markets like Toronto and Vancouver, reducing competition for entry-level condo units.

The Future of Canada’s Condo Market: Key Takeaways

1. Inventory is Rising, But So Is Demand – While new condo listings have surged, interest from buyers remains strong, especially in Alberta.

2. Edmonton and Calgary Are Seller’s Markets – These cities continue to see high demand and price growth, while Toronto, Vancouver, and other major markets remain more balanced.

3. Interest Rates Will Be a Game Changer – The expected rate cuts in 2025 will likely fuel stronger condo sales, particularly in entry-level price ranges.

4. Investors Are Watching Closely – While investor activity has slowed in some cities, Edmonton is bucking the trend, attracting out-of-province buyers looking for more affordable investment opportunities.

5. Immigration and Urbanization Will Keep Demand High – As Canada’s population grows, condos will remain a key part of urban housing solutions, especially in high-density cities.

Final Thoughts

The Canadian condo market is undergoing a transition, with rising inventory, shifting buyer dynamics, and expectations of future interest rate cuts shaping its trajectory. Edmonton stands out as a leader in sales growth, while cities like Toronto and Vancouver are waiting for market conditions to improve.

Whether you’re a buyer, investor, or seller, the condo market presents both opportunities and challenges in 2024. Keeping an eye on interest rates, inventory trends, and regional price movements will be crucial in making informed real estate decisions in the months ahead.

RE/MAX agents vs other agents

Fri, 18 Aug 2023 13:21:00 GMT

Through RE/MAX’s training & programs, our agents are confident and knowledgeable about the industry, varying situations, and the process of deals.

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Real Estate Videos

Win an Ultimate Road Hockey Prize Package + signed Connor McDavid gear!

RAE Housing Forecast Summary

Hockey and Real Estate Biggest Name

Canada’s Condo Market in 2024: Rising Inventory, Market Shifts, and What’s Next

Sellers Return as Condo Inventory Levels Surge

Edmonton Leads Canada in Condo Sales Growth

Why is Edmonton’s Condo Market Booming?

How Other Canadian Markets Compare

Interest Rate Cuts: The Calm Before the Storm?

The Future of Canada’s Condo Market: Key Takeaways

Final Thoughts

RE/MAX agents vs other agents