The Edmonton Real Estate Blog

Please visit our new location for new posts.

Thursday, May 11, 2006

Edmonton Condo Prices Increasing Fast

This report by Remax shows demand for condos is increasing faster in Edmonton and Calgary than anywhere else in Canada while prices are considerably lower than Toronto or Vancouver...

Condominium sales post double-digit gains in Q1 2006 in most major Canadian centres, says RE/MAX

"For some first-time buyers, condominiums represent the only means of

MISSISSAUGA, ON, May 11 /CNW/ - Unprecedented demand for condominium
apartments and town homes has sparked double-digit gains in unit sales in most
major Canadian centres during the first quarter of 2006, according to a report
released today by RE/MAX.

The RE/MAX Condominium Report found that both sales and prices were
climbing in the eight markets examined, including Halifax, Ottawa, Toronto,
Calgary, Edmonton, Kelowna, Victoria, and Vancouver. The highest percentage
increases were found in Alberta, with sales in both Calgary and Edmonton ahead
of 2005 first quarter figures by approximately 40 per cent. The number of
condominiums sold in Victoria, Kelowna, and Toronto were up in excess of
10 per cent, while more moderate gains of five, four and three per cent were
reported in Vancouver, Ottawa, and Halifax respectively.

"Rapid price appreciation has had a definite impact on condominium sales
across the country," says Michael Polzler, Executive Vice President and
Regional Director, RE/MAX Ontario-Atlantic Canada. "As the cost of more
conventional housing rises, condominiums represent the only means of home
ownership for some first-time buyers."

Western markets, in particular, are reporting strong upward pressure on
overall residential average price (includes all single-family dwellings,
including condominiums). To illustrate, housing values in Calgary rose a
substantial 26 per cent to just over $308,000 year-to-date while average price
in Vancouver jumped 22 per cent over the 2005 level to more than $482,000.

Although Toronto experienced a more modest increase of approximately six per
cent over Q1 2005, hot pocket areas are seeing even greater appreciation.

"Affordability has become a serious issue across the country," says Elton
Ash, Regional Executive Vice President, RE/MAX of Western Canada. "Despite
relatively low interest rates and the availability of longer amortization
periods, many first-time buyers are finding they have to stretch their budgets
to realize the dream of home ownership. Condominiums are the easy answer for
most because they offer the best of both worlds -- affordability and

Entry-level purchasers and move-up buyers, typically aging baby boomers,
are most active in the condominium market. The most popular price point is
$150,000 - $250,000, although in markets like Vancouver and Toronto, the
strongest segments are closer to $300,000 - $400,000. Luxury sales are brisk
from coast to coast, with almost all markets surveyed reporting an upswing in
sales over $500,000. In Toronto, sales of condominiums priced in excess of
$500,000 have risen 68 per cent to 170 units year-to-date, compared to
101 units during the same period in 2005.

"For many years, young professionals under the age of 40 dominated
Toronto's condominium market," says Polzler. "The pendulum is now starting to
shift, with baby boomers between 50 to 60 years of age emerging as a force in
the marketplace. The condominium lifestyle is the major attraction for most
mature buyers."

In Vancouver, more and more upscale developments are coming on-stream,
especially in the Coal Harbour and the Beach Crescent neighbourhoods.

"With Canada's economic engine firing on all cylinders, and no dark
clouds on the horizon, it's relatively safe to say that 2006 will be a banner
year for condominium sales across the board," says Ash. "This is particularly
true in the West, where condominiums are becoming an increasingly attractive
alternative to single-detached housing."


- Inventory levels were an issue in many markets examined, resulting in
upward pressure on condominium values.
- Multiple offers were commonplace in three markets during the first
quarter of 2006 - Vancouver, Calgary, and Toronto.
- Condominiums accounted for close to 50 per cent of total residential
sales in the Greater Area Vancouver between January - March 31, 2006.


  • At 3/07/2007 12:06:00 PM, Blogger alprazolam online said…

    We are the best of the best in condos with a beautiful to the sea and we have the best service.
    Great investment opportunity at Costa Rica Pacific Coast, Preconstruction condos in costa rica ,
    Condo sales in costa rica, Retirement property in costa rica. Visit us for more info at:

  • At 4/10/2007 03:47:00 PM, Anonymous Anonymous said…

    Good first that nothing is possible to say that to this pagina this very complete, is very interesting, and has everything what occupied to know, I entertained much visitanto and sailing in her. I invite to them that they see a little my Web site

    Costa Rica Real Estate
    Properties in Costa Rica Real Estate Company is located in San Jose, the capital city of this beautiful country. We are a group of professionals whose main goal is to provide you with clear insight into the meaning of investment and purchasing real estate in Costa Rica.
    We are a proven resource for Real Estate in Costa Rica. Our expertise covers a wide real estate collection in ideal locations for living, retiring or investing in Costa Rica. Our real estate inventory features a special assortment of: Costa Rica beach properties, upscale residential homes for sale, condos, investment real estate, farms, mountain properties and vacation rentals.
    We understand that relocating or purchasing a vacation property is not an easy job. Moving to Costa Rica and doing business abroad requires a lot of research and reliance upon the company you may be using. We provide you with trustworthy Costa Rica real estate assistance on every step of this process.
    Properties in Costa Rica main goal lies in leading you to a successful real estate transaction. We can help you get the Costa Rica real estate property or investment of your dreams.
    Our real estate listing in the Central Valley combine desirable locations in West and East San Jose such as Escazu, Santa Ana, Rohrmoser, Sabana, Sabanilla, Montes de Oca and Moravia among others.
    You will also find attractive real estate properties in the Central Valley provinces of Heredia and Alajuela, where locations such as la Garita and la Guacima are very appealing because of their wonderful weather, nearby facilities, very nice neighborhoods, farms and homes.
    Additionally, we provide you with real estate services in both, the Pacific and Caribbean beaches and coastal regions of Costa Rica. Find your vacation home in the beach and smart investment oportunities close to the ocean. We offer quality real estate for sale in Guanacaste, Puntarenas, Manuel Antonio, Dominical and other special locations outside the Central Valley.
    Costa Rica is a wonderful, peaceful and stable country, experience life at it's best!
    We invite you to take a tour of our web side:

  • At 4/12/2007 11:51:00 AM, Anonymous Anonymous said…

    Hello I want to congratulate to them by its site of the Web of the exelente looks like entertained and very good very to me it elaborated. I invite them to that they explore a little on my site of the Web.
    Costa Rica Real State
    In our real estate listing, we offer a great variety of land properties of all kind all over Costa Rica, from nice city houses, including condos, lots, country houses and farms, to splendorous luxury properties with extraordinary ocean views or located in front of the most beautiful beaches of Costa Rica.
    But we don’t just find those properties for you. We also give you all the legal advising regarding Costa Rica land properties regulations; our knowledge and expertise allow us to offer you a confident and dependable advice. Likely, we will advise you on how to make the best possible real estate investment anywhere in Costa Rica.

    Our real estate listing includes great opportunities on Costa Rica Central Valley’s provinces such as San Jose, our Capital, with remarkable cities as Escazu at the west, or Curridabat at the east, experiencing a great development on both commercial and residential properties, making their real estate pricing highly attractive to investors; on other hand, Alajuela city gathers places with a very special warm weather such as Grecia, La Garita and Atenas, or beautiful farms for agricultural, cattle or nature preservation purposes as those located on San Carlos or Sarapiqui. We also offer land properties in Guanacaste, which is the province, along with Puntarenas, with the most beautiful tropical beaches on the Pacific Coast such as Tamarindo, Playa Grande, El Coco, Playa Hermosa, Nosara, Samara, Herradura, Jaco, Manuel Antonio, Dominical and Golfito, where the real estate business occupies the first place as the local economic activity.
    We can’t leave outside our real estate listing, land properties of great beauty on the Costa Rica Carribean Coast like Tortuguero, Limon, Cahuita, Puerto Viejo and Gandoca Manzanillo.

    We invite you to take a tour on our website, and if should more information is required.
    Great investment opportunity at Costa Rica Pacific Coast, Real estate investment in costa rica ,
    Retirement property in costa rica, costa rica hot market. Visit us for more info at:

  • At 4/20/2007 10:16:00 AM, Anonymous thama077 said…

    Hello it seems to me a very pretty page and very entertainmet, has a good service for all those people that visits many congratulations by a good site
    I invite all that interested person to know a little on my Web site
    Purchasing a condominium before the construction begins is a way for developers to get the working capitol they need for their projects and for investors to save money on the finished product. Many times investors are able to resell the condominium for a profit before the work is complete, and in some cases condos have sold multiple times with multiple profits before there anyone actually took delivery of the real estate.

    This practice is very common in Costa Rica as it provides economic incentives by means of low priced, preconstruction deals to the client, which is mutually benefitial to the developer. The precaution that we take and recommend to our clients, is to be sure that the developer who is building the project, has a proven track record either abroad, or more importantly, here in Costa Rica. Ask your agent to give you some background on the developer, and the team involved in the project including the architect, builder, and developer
    For but information it visits my Web site the following direction


Post a Comment

Links to this post:

Create a Link

<< Home