Posts tagged with "Community"

Edmonton’s real estate market is holding strong as it comes into fall, however a rising market also means  larger price tags on residential and commercial properties. Current and prospective homebuyers can take comfort in their investments however, as statistics are showing the Edmonton market to be one of the most affordable in Alberta.

A recent article posted by Global Edmonton targeting the competitive nature of the Calgary and Edmonton real estate markets uses sales figures to show Edmonton in a clear win situation when comparing affordable housing prices. Additionally the Calgary Herald has made mention of record high prices in the large southern Alberta city.

Residences in Edmonton are Readily Available to Home Buyers. Image Credit: Global Edmonton

Calgary has seen a 10.48 % increase since the same time last year, nearly double the national average. When comparing 11 major centres across the country, the sales figures increase was about 5.33% on average, according to the MLS Home Price Index. Additionally price growth percentage in Calgary has increased 25% over the past 3 years, while nationally that number is hovering around 12.5%.

Economist Leslie Preston (TD Bank) explains the situation down south:

“Existing home prices . . . are on track to outstrip income growth for a second straight year in 2014, which adds to concerns about an already-overpriced market. Affordability, even at low interest rates, has become an obstacle in many markets.”

Global News reports that coming in to winter the average home price in Calgary will be approximately $99,000 higher than that of Edmonton, and about $103,000 in the new year. According to Edmonton’s Chief Economist John Rose:

“When you look at housing affordability issues, Edmonton is actually – among Canada’s major metropolitan areas – one of the most affordable in terms of housing. You have to bear in mind that incomes in Edmonton are about 20 per cent above the national average.”

The affordability and availability of housing in Edmonton can account for the latest population influx in the area, and the strong economic upturn, especially in the real estate industry. Click Here to search for properties for sale in the Edmonton area.

There’s a chill in the air in Edmonton, and it may be safe to say summer is over. On that (slightly sour) note let’s take a look at residential real estate sales over the summer months in Edmonton.

Fresh from all-time highs in spring, prices dipped a little over the summer months beginning in mid to late June, providing some relief to potential home buyers. Single-Family dwellings saw a slight decrease in average price, with July costs around $426,716. That shows just a  2% drop from June sales, with total residential sales showing an average price drop of around 2.6%.

Total Sales Statistics-Residential.

Interestingly, the changes in Condominum prices were quite negligible differences, seemingly unaffected by market influences.

Condominium Sales Statistics

Though prices are showing a temporary lull, there is still an overall trend of increased sales figures. REALTORS® Association President Greg Steele weighs in on the changes:

“Like the shortening summer days and the appearance of fall fashions, real estate prices begin to soften at this time of year. Despite the seasonal slide, prices in the Edmonton area are still up when compared to the same month last year. The local market continues to be very active and REALTORS® report having a busy month.”  

 

Single-Family Dwelling Statistics.

Steele has quite accurately described the seeming dip in the trend, whereas housing prices have the appearance of dropping, they are  statistically still showing an increase from the same time last year. Overall residential prices were up 3.3% from 2013, with the single-family dwelling up almost 4%. The most marked year-over-year upsurge appeared in condo prices, which are gaining increasing popularity in the city as a more viable residence option, showing an increase of about 4.6% from last summer.

Along with a sale price increases, total overall transactions are skyrocketing as buyers become more eager to invest in Edmonton’s booming real estate market. July saw the sale of 2,013 residences (639 of them condominium units); a 9.7 % increase from the 1,835 residences sold in July of 2013.

Steele also addressed this influx of transactions:

“The demand for real estate remains strong and in line with other market fundamentals. Fortunately, year-to-date listings are also up compared to last year and there is adequate supply with over 5,600 residential properties in inventory.”

Homes in June on average were selling in about 41 days, and in about 46 days for July.

Click here to create a custom property search for Edmonton and the surrounding area or visit our Market Stats page for more details and the most up-to-date numbers! 

It’s that time of year again.

With heads hung low, our young’uns are dragging their feet back for yet another year of schooling. For those of us with not-so-young’uns this might mean experiencing their first year of collage; some in a new city, or just a new part of the city trying to live life on their own. This is why the surrounding residential areas of the University of Alberta have become so desirable.

Aerial view of campus and surrounding neighbourhood. Image credit: University of Alberta

There are many tiers of residence options from condominiums to large family homes. Residences can be bought with the short-term goal of housing a son or daughter for the duration of their studies, and then flipping the investment for profit. It can be lived in by the family into the foreseeable future. Or any of these lucrative properties can be held on to, and rented out year after year for the throng of passing students always looking for temporary housing. The turnover of renters, and neighbourhood desirably  makes it equally easy to rent, sell, or live in the area.

This student turnover explains the high mobility of residents in the neighbourhood of Stratchcona. According to municipal census statistics, about 30% of residents had lived at the same address for 5 years or more, with 7 out of ten having moved within 3 years or less.

Row Housing near campus. Image Credit: University of Alberta

The area of residences near the University is considered to by part of the larger Edmonton neighbourhood, Strathcona. This historic area is quite old by Edmonton standards, around 15% of residences were built before 1946 and just over half were built in the 60’s and 70’s. This explains the eclectic architectural vibe of the neighbourhood and provides a wide array of housing options for interested potential residents. Around 44% of area homes are low rise apartment buildings, ideal for thrifty first years on campus. Approximately 24% of the area is comprised of single family dwellings, beautiful homes for the family or a comfortable, spacious retirement.

Saskatchewan Drive walking trail. Image Credit: University of Alberta

The University area’s desirability also has to do with it’s ample amenities. Designed as a neighbourhood for students with limited to access to their own transportation, almost every necessity is in walking distance, including grocery, restaurants, laundry, Edmonton’s popular Whyte Avenue district, multiple theatres, and of course all the buildings on campus. As well,  the University’s transit centre is a main hub for bus and LRT services to all access all parts of the city.

Click here to view properties in the University area. 

Just over 30 kilometres north of Edmonton lies the town of Morinville, Alberta. The 11 square kilometres that comprise the town are inhabited by almost 8600 residents. The 36 minute drive time to the city makes Morinville a desirable location due to this proximity, yet distance from larger centres. In the near vicinity are Namao, Bon Accord, Gibbons, and Legal.

Current Day Jean Baptiste Parish. Image Credit WinterforceMedia

By the late 1800’s French settlements had begun to arise in the area led by Father Morin, the town’s namesake.  Following this influx, a large group of German pioneers arrived, contributing heavily to the town’s unique French and German heritage. Many family lineages still exist today with prominent names such as Riopel, Labonté, St. Laurent, Maisonneuve, Bokenfohr, Krauskopf, Rustemier, and Meyers.  The settlement became official in 1894 upon the opening of its first post office, and shortly after in 1907 the St. Jean Baptiste parish was built.

Main Street Morinville in 1910. Image Credit: Morinville Museum

Always an economic frontrunner, Morinville opened one of the first Royal Bank locations (1910) and a credit union (1940) as well as the original location of Champion Pet Foods (now a world-wide exporter). Presently Morinville is home to many chain and locally run businesses, as well as 18 restaurants, salons and spas, veterinarian clinics, art and music supplies, auto shops, and every other amenity a resident could have need for.

Aerial View of a Morinville Street. Image Credit: Morinville News

The cultural diversity of Morinville’s residents creates interesting and exciting community events. With a highly bilingual population (French/English) even the Catholic church hosts an exclusively French mass on Sundays. There are festivals and events year round expressing a variety of cultural facets including a Jean Baptiste festival, the “In Our Community” Fair, Oktoberfest, and many more.

Here is a promo video for this years Saint Jean Baptiste Festival:

Due to the rural nature of Morinville, the area lends itself particularly well to recreational and outdoor activities. Along with extensive walking and running trails, the city has set up many clubs designed to specifically motivate and encourage recreation in a supportive and social environment. Additionally there is a trout pond, splash park, skateboard park, hockey arena, a curling rink, as well as new outdoor fitness areas.

CLICK HERE to view properties for sale in Morinville. 

The small community of Devon, Alberta, still considered a ‘town’ with a population of just over 6500, covers almost 12 square Kilometres of land southwest of Edmonton.  At about a 40 minute drive (26 KM) away, Devon provides an idyllic escape from city life.

Bridge at Devon, Alberta. Image Credit: Sean McCormick via flikr.com

Surrounded by agricultural communities, and residential sprawl from Edmonton, Devon is a hub of  not only shopping and amenities but is surrounded by world class golf courses and spectacular nature preserves.

By Alberta standards the town is relatively new, having almost sprung up overnight in the late winter of 1947. The Imperial Oil drilling company struck oil on the present day town site, and Devon developed to accommodate for the many site workers and staff necessary to maintain the drill. To this day the oil industry remains an important contributor to Devon’s economy.

Imperial Leduc #1 Oil Drill. Image Credit: Devon.ca

The Devonian Botanic Garden, facilitated by the University of Alberta, is a notable feature, and namesake, of the area around Devon known for its lush landscapes. The ‘Garden’ is in actuality over 190 acres of botany collections, indoor show houses, as well as an extensive trail system. Across the highway from the gardens lies the Clifford E. Lee Nature Sanctuary; nearly 350 acres of marshland, parkland, open meadows, and more. The varied terrain attracts a multitude of animal species, including over 100 varieties of birds.

The greenery around Devon is not only reserved for flora and fauna however, the Devon Golf and Country Club, as well as Blackhawk Golf Club are both found along the scenic Devon River. The Golf and Country club was also built in the interest of the early oil workers, to create a leisure time activity. As the sport escalated in popularity, it grew from a 9 to an 18 hole course.

View of the Devonian Botanic Garden. Image Credit: University of Alberta

Devon is appealing for those searching for a starter family home, or even more established buyers. The area is serviced by a general hospital, 3 public schools, 2 Christian academy, a Catholic School, and the Devon Dispatch newspaper.

CLICK HERE to view properties available in Devon.

The communities of Sweet Grass, Ermineskin, and Bearspaw comprise a large part of Edmonton’s south. These areas are almost exclusively residential and include large expanses of green space. They all share convenient access to the major shopping areas of Southgate Centre, South Edmonton Common, as well as proximity to the new LRT extension.

Sweet Grass borders 34 Avenue to the north, and it’s southern border partially includes Saddleback road and runs along a utility corridor, while it’s east and west boundaries run from 111 Street to 119 Street.  The area was annexed to the City of Edmonton in 1964, and residential development occurred throughout the 1970’s and into the early 1980’s. The area is a blend of single-family-dwellings, row houses, and low rise apartments and the residences are a combination of owner occupied and rental properties.

Sweet Grass Park. Image Credit: Yegishome.ca

Like many other communities in Edmonton’s south-west, Sweet Grass is named to honour the rich aboriginal history of the area. Chief Sweet Grass was a Cree political leader and early environmentalist who was actively outspoken about protecting bison herds common to the region.

The neighborhood’s focus is the central elementary school, bordered by parkland and recreational areas.

CLICK HERE to view properties for sale in Sweet Grass

Ermineskin falls to the south-east of Sweet Grass, it’s northern border a utility corridor just south of Saddleback road while it’s south borders 23 Avenue. It runs from 111 Street in the west to Calgary trail in the East.

Major residential construction of Ermineskin occurred in the 1970’s into the 1980’s, however some residences can be dated back to just earlier than 1960 and also later than 1990. The area is comprised mainly of rental apartments, following by apartment style condominiums. The remainder of the area is comprised of single-family dwellings, row houses, and duplexes.

Ermineskin Craft Fair. Image Credit: Ermineskin Community League

A prominent neighborhood feature is the former Heritage Mall development site, located on the western boundary of the neighborhood which began a major overhaul in the 2000’s. The location now know as “Century Park” encompasses commercial, office, and residential sites. The location also includes a central recreation area and the newest LRT station, Century Park.

This development and addition of green space has revitalized the area’s very active community league. The Ermineskin Community League hosts year-round events, fundraiser, and ongoing programs such as Zumba classes, pancake breakfasts,  rummage sales, quilting, hockey, scrap booking, and more.

CLICK HERE to view properties for sale in Ermineskin

Bearspaw lies a few communities south of Ermineskin, bordered by Blackmud Creek in the west to Calgary Trail, and from Anthony Henday Drive in the south it runs north until 18 Avenue. Bounded by these major thoroughfares, the community has convenient access to major commercial shopping in the south, as well as access the Edmonton International Airport and the University of Alberta.

Combined with it’s northern neighbor of Keheewin, the two areas comprise the Yellowbird East Community League. This community league organizes children’s athletics, as well as adult recreation, community events, and fundraisers for the two neighborhoods.

Bearspaw Lake. Image credit: Yegishome.ca

The area is conducive to outdoor recreation activity due to it’s proximity to Big Bear Park, a large hill with Blackmud Creek Ravine access to hiking, as well as a major greenbelt running along Bearspaw lake which the neighborhood centers around. Additionally, the William Lutsky Family YMCA is also located in the area, for indoor fitness and leisure access.

Bearspaw became a part of the city officially in 1974, however most development didn’t occur until the 1980’s when many of it’s single-family dwellings were constructed, though semi-detached and row houses can also be found. The area is predominantly owner-occupied, with only about a 9% rental rate.

CLICK HERE to view homes for sale in Bearspaw.

All three of these stunning communities overlook the North Saskatchewan River Valley, providing easy access to walking and biking trails. Additionally, limited vehicular access lends to an ambiance of peaceful seclusion.

Though still considered a mature Edmonton neighborhood, the community of Patricia Heights is comparatively young, having not officially joined the city until 1964. Bordered on the north by Whitemud Drive, and on the east by 156 Street, the rest of Patricia Height’s boundaries are formed naturally by the curvature of the Patricia Ravine.

Patricia Heights Walking Trail Access

Named in honour of Queen Victoria’s granddaughter, the prominent area flourished in the late 1960’s, with it’s residential building projects entirely completed just a decade later. A mix of owner occupied and rental properties, approximately half the area is comprised of single-detached homes while the other half is made up of low and medium rise apartment buildings.

Families are attracted to the quiet, tight-knit community, with only two interchanges on 156 Street and on 159 Street to access Patricia Heights.

Adjoining the Eastern border of Patrica Heights, lies Rio Terrace, spanning from 156 Street to 149 Street, and Whitemud Drive down to the river valley. It shares many walking trails and green space features with Patricia Heights, as well as the same two access roads.

Construction on Rio Terrace started just a decade earlier in the 1950’s, and the entirety of neighborhood dwellings are single-family homes, approximately 20 percent of them rental properties. In 2010 the community underwent a major municipal revitalization. Renewals included roadway reclamation, streetlight upgrades, and sidewalk, curb, and gutter reconstruction.

The most notable feature of Rio Terrace is it’s active community league and strong volunteer program. The Rio Terrace Moravian Church is heavily involved, hosting a performance series of musical artists. A strong soccer program attracts young families, while the “Rio Gardens! Community Garden” program facilitates a sustainable food initiative; an incredibly important community value.

Rio Gardens sustainable food initiative.

Rounding out these river valley communities is the affluent area of Oleskiw. Bordered on the west side by 170 street, Oleskiw is pocketed in the river valley on all other sides.

Though development on the area began in the 1970’s, it wasn’t officially declared complete until 2000, making the properties an eclectic mix of many decades of architectural tastes. With 90 percent of properties single-family dwellings, a few row houses round out the area, which is an entirely owner occupied neighborhood.

Highlights of this private, yet trendy area include the Edmonton Country Club and Golf Course, Sorrentinos, Starbucks, and the Marketplace at Callingwood, which includes the city’s largest Sunday farmer’s market.

Homes in Oleskiw. Image Credit: yegishome.ca

A notable geographic feature is the Oleskiw Treestand, a deciduous habitat for urban wildlife. Home to many birds and mammals, the treestand is included on many nature walks, and has been a protected area since 1978.

View available properties in: Patricia Heights, Rio Terrace, and Oleskiw.

Diversity, ecology, proximity, family: these are the values cited by the extensive Grovenor community website . An unexpectedly old neighborhood, considering its relative distance from the city’s core, the original dwellings bordering the ravine were built around 1907. The community borders 149 Street to 142 Street on the east and west, and 107 Avenue south to the Mackinnon Ravine.

In the area’s extensive history it has changed names (formerly Westgrove) and spurred on by the railways passing through was almost completely industrial up until the 1940’s. Then a transformation began, completed in 1980, to an entirely residential community save a few bordering shops on it’s main thoroughfares.

Grovenor School

A tight knit community known for it’s elaborate Halloween houses, success in the sport of shinny, and it’s focus on family values, the community emphasizes the desirability of the area for raising children, noting it’s elementary school, historic church, and community league programs.

Bordering Grovenor to the east is the historic community of Glenora, which naturally falls just south of the community of North Glenora. Glenora extends from 142 Street to Groat Road and the River Vallery, and north until 107 Avenue. North Glenora resides on 107 Avenue to 111 Avenue and 142 Street to Groat Road.

It may not be surprising to learn that the area of Glenora was part of an 1860’s river lot owned by Malcolm Groat, namesake to much of the area’s landmarks and of course Groat Road, which at the time demarcated the outer city limits.

Glenora Bed & Breakfast. Image Credit: Darren Kirby

This sprawling riverside area is notable for the Royal Alberta Musuem and it’s surrounding parkland, as well as Alberta Government House and the local hidden gem, Glenora Bed and Breakfast. Glenora is also home to 4 schools; 2 public, 1 Catholic, and 1 private. The area is considered relatively affluent, according to recent census statistics, with 4 out of every 5 homes being owner occupied.

North Glenora is geographically one of the smaller residential areas in the city, occupying less than 87 hectares, and also made up part of the original parcel of land owned by Malcolm Groat. The residential boom of North Glenora occurred in the years following World War II when just over 86% of it’s residences were constructed. Before this time, much of the area was undeveloped land, trees, and dirt trails, save for a few residences.

Noted for it’s beautifully maintained, tree-lined streets, the area is especially picturesque in the autumn months. It’s residences surround the sprawling North Glenora Park, where recreation is facilitated year-round, with amenities that include a skating rink, spray park, soccer field, basketball court, and renovated community league hall.