Lower interest rates in our already "Hot"  Edmonton Real Estate Market is a match made in heaven for all you potential buyers - whether you are refinancing, a first-time buyer, moving up or moving down.  With Canada’s top 5 banks following suit to the Bank of Canada’s key rate cut for a second time since January, their prime rates are currently at 2.70%.  TD Bank lead the other 4 banks, RBC, BMO, SCOTIA & CIBC to cut their prime rate by 0.15% from 2.85%, “a shallower reduction from the central bank’s 0.25-point cut”. However, this gives you more power when shopping around for a mortgage - cheaper rates equal more saving potential.  The biggest impact will be seen on variable rate mortgage products.  

Anyone trying to sell a home this is a good…

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Due to slowed growth and economic activity mainly by the USA and China – the bank of Canada has cut it’s key lending rate by 0.25% from 0.75% to 0.5% as a result of Canada’s GDP being half of what was originally projected at 2%.  Due to consumer confidence increasing our Edmonton Real Estate is still strong and homes for sale are selling.  This is excellent news for homebuyers, with plenty of inventory still available and low interest rates now is a good time to buy whether you are a first time buyer, looking to move up, or possibly even move down.  

The energy sector is still lacking but growth is expected from Canada’s non-energy sectors, which keeps us from being hit so hard with the global economies slowed growth.  With the new projection…

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The average price for Edmonton single family homes was $444,862 which is down slightly from last month but up 2.1% from June of 2014. There were 1,243 houses sold and the average days on market was 46 days.

In the Condo market, the average price was $255,662 which is almost the same as last month and up just slightly from June of 2014. However sales were down by 8% with 572 condos sold, when compared with last June.

Here is our infographic 

If you want even more details, check out the REALTORS® Association of Edmonton website

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Whether you are planning to make it a all day event or just par-take in a single activity today there are fun things to do all over our Captial City today!  We are going to definitely enjoy the Fireworks later this evening and check out the lighting of the highlevel bridge with some friends and family.   To see the what is happening in Edmonton on Canada Day read the full article - Here’s what’s happening today for Canada Day

What are you planning to do to Celebrate this Canada Day?

We'd love to hear your comments!

Shawna & Robert 

 

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Whether you are planning to make it a all day event or just par-take in a single activity today there are fun things to do all over our Captial City today!  We are going to definitely enjoy the Fireworks later this evening and check out the lighting of the highlevel bridge with some friends and family.   To see the what is happening in Edmonton on Canada Day read the full article - Here’s what’s happening today for Canada Day

What are you planning to do to Celebrate this Canada Day?

We'd love to hear your comments!

Shawna & Robert 

 

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