On the Pulse of the Edmonton Real Estate Market

ICONIC YEG

Welcome to the ICONIC YEG Real Estate Blog, where our mission is to demystify the Edmonton real estate market for buyers, sellers, and enthusiasts alike. We aim to provide a gateway to a wealth of insider knowledge, essential market trends, and unbeatable strategies tailored specifically for the Edmonton community.

We hope to not only to inform but also to empower you with the industry's best-kept secrets and proven tactics, helping you make informed decisions in this dynamic market. Whether you're eyeing your first home purchase, planning to sell a property, or simply staying on top of the latest real estate trends, ICONIC YEG is your ultimate guide to navigating Edmonton's real estate landscape.

RSS

Edmonton Real Estate: 2022 Review

Happy New Year!

As the new year approaches, Michael and I are filled with immense gratitude for all our dear clients, friends and families who have supported us through a monumental journey of creating and starting ICONIC YEG

In our first year of operation, our new Edmonton-based Real Estate company has enabled over 100 people to find or sell their homes in 2022 alone! We've also consistently ranked among RE/MAX's top 15 agents each month - quite an accomplishment that could not have been possible without your support.

What happened in the Edmonton Real Estate market in 2022?  Are you ready for 2023?

There were almost 19,000 sold properties in the greater Edmonton area in 2022. 

With the highest volume of properties being sold before May, the Spring started in January and we anticipate the same for 2023! Are you ready?

Of all the homes sold in 2022, over 70% of them were priced under $500,000.00.  This is an important metric for sellers when preparing for sale as you need to know where the highest volume of buyers are and how to reach them.  Edmonton is an affordable options for anyone planning on buyers or relocating this year, for more information on this, please read more here

As we look ahead and get ready for 2023, there is positive news for buyers looking to maximize their value and options in homeownership.

With over 1000 Single Family homes currently on the market priced BELOW $300,000.  Now is the time to purchase and start investing in yourself and your future.  

If you're looking to move soon whether it be selling your property or renting out space; now is definitely the time to start planning ahead since the spring market has already arrived.



Caitlin Heine

Owner, ICONIC YEG




Have you enjoyed working with us in the past?  Support our new business by writing a review here


Read

WHY RENT? When you can buy an Edmonton home for under $300,000

Are you in the market for an affordable, high value Edmonton home priced under $300,000?

If so, you've come to the right place! Click HERE to search for a variety of great homes available in Edmonton that all come with price tags well below $300,000. And sure - they may not have all the bells and whistles compared to higher-priced properties in other areas - but don't let that fool you. From modern townhomes close to downtown amenities to established bungalows off the beaten path – there are plenty of fantastic options out there waiting for their new owners. You can find plenty of quality living at a fraction of what some other cities offer – which means more cash stays safely tucked away in your pocket where it belongs!

1.  More Affordable

One of the primary reasons to buy a home that is well under your mortgage approval limit is that it will be more affordable. When you are looking at homes, it is important to consider not only the price of the home, but also the cost of ownership. The cost of ownership includes things like property taxes, insurance, and maintenance. If you buy a home that is well under your mortgage approval limit, you will have more money left over each month to cover these costs.


2.  More Equity

Another reason to buy a home that is well under your mortgage approval limit is that you will build equity faster. Equity is the portion of your home’s value that you own outright. Every time you make a mortgage payment, a portion of that payment goes towards paying down your principal balance, which increases your equity. If you buy a home that is well under your mortgage approval limit, you will have a smaller principal balance and will build equity faster.


3.  More Flexibility

When you buy a home that is well under your mortgage approval limit, you will also have more flexibility in terms of how much money you can borrow in the future. If you ever need to take out a loan for major repairs or renovations, having a lower mortgage balance will give you more borrowing power. Additionally, if you decide to sell your home in the future, you will have more negotiating power if you owe less on your mortgage than the home is worth.


4.  Lower Interest Rates

If you buy a home that is well under your mortgage approval limit, you may also be able to qualify for lower interest rates. Lenders often offer lower interest rates to borrowers who are seen as low-risk, and one way to demonstrate low risk is by having a smaller mortgage balance relative to the value of your home. This can save you thousands of dollars over the life of your loan and make your monthly payments more affordable.


5.  Peace of Mind

Finally, buying a home that is well under your mortgage approval limit can give you peace of mind knowing that you are not overextending yourself financially. When you are house hunting, it can be easy to get caught up in the excitement and spend more than you had originally planned. By sticking to homes that are well within your budget, you can avoid financial stress down the road and enjoy your new home without worry


Although it may be tempting to spend your entire budget on a home, there are many benefits to investing in a property that is under budget. Low cost options offer numerous advantages such as being easier to sell in the future and providing more opportunity for customization. If you're looking for an affordable option that doesn't sacrifice quality, contact Iconic YEG today to view these homes.





Read

 Live a Life of Luxury in East Junction’s THE BEACON

The newest and most luxurious apartment building in Edmonton is here. THE BEACON at East Junction offers penthouse amenities, concrete construction, luxury finishes, and stunning views of Downtown Edmonton and the North Saskatchewan River Valley. It's everything you could want in an apartment—and more! 

The first tower in this sought-after development is THE BEACON, located at the apex of Edmonton’s East Junction. This premier complex provides residents with top-notch amenities such as a state-of-the-art fitness center, high-end appliances and fixtures, onsite storage spaces for bikes and strollers, underground parking and more! And that's just scratching the surface! In addition to these fantastic amenities, there are also several options for dining and entertaining in the immediate area. From pubs to fine dining restaurants to cafes—East Junction has it all!

For those looking for unparalleled views from their apartment window or balcony (or both!), look no further than THE BEACON. With its panoramic views of Downtown Edmonton and the North Saskatchewan River Valley, you can take in the beauty of Alberta’s capital city every day. Whether you’re hosting friends for drinks on your balcony or enjoying your morning cup of coffee while admiring the view from your living room window—you won’t be disappointed. Plus, with concrete construction throughout all units and soundproof walls between each floor—you can rest assured that noise won't be an issue either!

With so many great features available right outside your doorstep (literally) why not make THE BEACON your new home in 2023? In-person tours are starting in Januray and move ins anticipated for March 2023!

Read
Categories:   14810 | 2024 Edmonton Real Estate | 2024 Home Buyer | age in place | Alberta Avenue | apartment | arthouse | assumable mortgage | boom and bust | boss | brewerydistrict | builder | business | Buyer Guide | buyertips | Buying | Caitlin Heine | Calgary | Coming Soon | Crestwood | culture | custom homes | decor | developers | developments | East Junction | East Village | edmontn | edmonton | Edmonton Communities | Edmonton Community | Edmonton Real Estate | el-mirador | embraceequity | for sale | forest heights | furniture | Historical Homes | history | Holyrood, Edmonton Real Estate | Home Staging | homes | Homes for Sale | ICONIC | Iconic Results | lakefront | landscaping | leasing | lifestyle | Living Here | marketupdate | moving | movingtoedmonton | multipleoffers | Neighbourhood | Parkdale | Pet Friendly | projects | property owners | purpose built rental | relocating | REMAX | renovations | rent | rental | rental culture | riverdale | Rural Parkland County, Rural Parkland County Real Estate | sales managment | sebabeach | sellertips | selling | selling tips | services | Sherwood Park, Sherwood Park Real Estate | Spruce Grove, Spruce Grove Real Estate | St. Albert, St. Albert Real Estate | Stony Plain, Stony Plain Real Estate | strategy | Team | the galleria | Top 10 | ukraine | Westmount | Winter Market | woman | womansday | Yeg | Zone 02, Edmonton Real Estate | Zone 05, Edmonton Real Estate | Zone 06, Edmonton Real Estate | Zone 07, Edmonton Real Estate | Zone 08, Edmonton Real Estate | Zone 10, Edmonton Real Estate | Zone 12, Edmonton Real Estate | Zone 13, Edmonton Real Estate | Zone 14, Edmonton Real Estate | Zone 15, Edmonton Real Estate | Zone 16, Edmonton Real Estate | Zone 18, Edmonton Real Estate | Zone 19, Edmonton Real Estate | Zone 28, Edmonton Real Estate | Zone 29, Edmonton Real Estate | Zone 30, Edmonton Real Estate | Zone 56, Edmonton Real Estate
Copyright 2024 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.