March 10, 2010- Welcome to March and hopefully the end of the winter months!  I would like to take a moment and talk to you about the highlights of the Edmonton and area real estate market in February and compare it to what we have seen last year.  As a large portion of our market is either single family homes or condominiums, my stats and figures are going to be based on these two segments.

Market Activity...

Starting with homes coming on the market.. February 2010 saw a total of 2478 new listing hit the market.  This is down by 3.4% compared to the 2564 in 2009.  This is still however up 13.8% from January 2010. The length of time that homes listed in February 2009 was seen spending on the market was 61 Days.

Selling trends... January 2010 had 926 homes and condo that sold.  In February we saw a jump of 38.6% to 1283 units.  February 2009 was a much softer month for sales with 1082 units successfully selling – or 15.7% less.  The speed at which homes are selling has definitely improved as well.  IN 2009 only 15.6% of units were selling in 15 days or less on the market.  In 2010 we saw huge jump to 24.9% of listings were selling in the same time frame.  The lower inventory levels have also increased the number of properties selling over list price by 96.7% - that’s almost double!

Along with units coming to market and units sold there are other stats that we look at to gauge the market.

                                    Jan 2010       Feb 2010       Feb 2009                   2009 vs 2010

Day on Market          52                    45                    62                                - 27.4%

Avg List $                   $327,655       $331,280       $328,969                   +0.7%

Avg Sale $                 $318,507       $321,888       $314,394                   +2.4%

List/Sale $ ratio         97.2%             97.2%             95.6%                         +1.7%

With inventory levels at where they are, a huge drop in average days on market and a slightly higher average sale price compared to 2009, I see a healthy real estate market for the coming months.  An increase in average list price to sale price ratio indicates that homes are either being priced better and that buyer confidence in future house values is improving.

RE/MAX Associates still number one!

RE/MAX Associates continue to excel and were the number one choice of Consumers in the area.  RE/MAX Associates account for 42.8% of the transactions recorded by the MLS system in 2009 - an increase from 2008.  This is a major accomplishment as all other major franchises in the area combined for only 39.4% of the market.  This includes Realty Executives, Royal Lepage, Century 21, Coldwell Banker, and Sutton.

Shami Sandhu

Broker/Owner

780-439-7000

For Immediate Release

 

RE/MAX River City Plays Role in Helping RE/MAX Network Raise $100 Million for Children’s Miracle Network

 

 

Edmonton March 10, 2010— RE/MAX Associates at RE/MAX River City have been supporters of Children's Miracle Network since 1992 and have made regular donations to the children’s charity. These funds have helped RE/MAX, a leading real estate franchisor, arrive at an amazing milestone: $100 million dollars raised over the past 18 years for Children’s Miracle Network, which raises funds for more than 170 pediatric hospitals. In doing so, RE/MAX became one of the top three Children's Miracle Network donors of all time.

 

The funds raised by RE/MAX River City go to the Stollery Children's Hospital to help treat children needing expert medical care. “Supporting our local Children's Miracle Network hospital is part of the RE/MAX ethic. Our agents are immensely proud to support the Stollery Children's Hospital,” said Shami Sandhu.”We all feel it is important to give back to this community in which we earn our living and raise our families.”

 

The donations from hundreds of RE/MAX offices and thousands of RE/MAX Associates amount to millions of dollars each year for children’s hospitals. RE/MAX primarily raises funds through the Miracle Home^® program where Associates make a contribution to Children’s Miracle Network with each closed transaction. RE/MAX offices and agents also sponsor golf tournaments, host art auctions and organize a variety of other fundraising activities throughout the year.

 

“When you take into account that the real estate industry was hit harder than any other by the economic recession, it’s overwhelming that RE/MAX Associates raised $7 million for Children’s Miracle Network in 2009 alone, bringing their total to a landmark $100 million,” said Scott Burt, president and CEO, Children’s Miracle Network.

 

”Knowing that children’s hospitals have been impacted deeply by the downturn in philanthropic giving, RE/MAX Associates worked harder than ever to support Children’s Miracle Network and the children in our communities,” said Vinnie Tracey, president, RE/MAX International, Inc.

 

RE/MAX has been a corporate fundraising sponsor since 1992 and has raised $100 million for children’s hospital over the past 18 years.These much needed funds given to Children’s Miracle Network hospitals may be used for specialized medical care, research and education.

 

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About Children's Miracle Network

Children’s Miracle Network is an international non-profit organization that raises funds for more than 170 children’s hospitals. Countless individuals, 90 organizations and 400 media partners unite with Children’s Miracle Network hospitals to help sick and injured kids in local communities. Donations to Children’s Miracle Network create miracles by funding medical care, research and education that saves and improves the lives of 17 million children each year. To learn more go to ChildrensMiracleNetwork.org.

 

About RE/MAX
RE/MAX was founded in 1973 by Dave and Gail Liniger.  From a single office in Denver, Colorado, it has grown into a global network of nearly 100,000 Sales Associates in more than 70 countries, an international presence greater than any of its competitors.
 
RE/MAX has been honored as the leading real estate franchise for 9 of the last 11 years in the oldest and most respected ranking, “The Franchise 500 Survey,” published by Entrepreneur Magazine.
 
Today, all the home listings in thousands of cities and towns can be found at www.remax.com <http://www.remax.com> , which is the most visited real estate franchise web site.
(ComScore, Jan.-Oct. 2009; Compete.com, Feb. 2008-Oct.2009; Hitwise, Jan.- Oct. 2009)

RE/MAX International is proud of its Premier Community Citizenship, which has raised over $100 million for deserving organizations like Susan G. Komen for the Cure®, Children’s Miracle Network and The Sentinels of Freedom Foundation.   
 
For information on RE/MAX International visit:  http://www.remax.com

www.JoinRiverCity.ca

 

Press Contacts:         

 

Shami Sandhu

Broker/Owner

780-439-7000

Shamis@remax.net