On the Pulse of the Edmonton Real Estate Market


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.


Buyer Guide: Mastering the 2024 Edmonton Real Estate Market

In the riveting match that is Edmonton's real estate market, coming out on top requires more than mere luck; it demands strategy, finesse, and the wisdom of a seasoned guide. As we peer into the bustling arena of 2024, the trailblazing tactics of ICONIC YEG and the adept guidance of real estate maestro, Caitlin Heine, offer buyers the necessary edge to secure their dream homes.

The Art of Strategy in Real Estate Acquisition

When every moment matters, and each decision can be a deal-maker or breaker, navigating the competitive landscape of Edmonton's real estate market equates to a strategic conquest. Caitlin Heine and her team at ICONIC YEG transform the daunting task of homebuying into an orchestrated symphony, where each note strikes a balance between informed decisions and timely execution.

"In a seller's market like Edmonton's, the real value lies not in making the highest offer but in crafting the most compelling one." - Caitlin Heine

A tactical approach melds with personalized attention at ICONIC YEG, forming an unparalleled alliance that savvy Edmonton buyers swear by.

Industry Voices: Client Testimonials

Clients voice their unanimous praise for the distinctive ICONIC YEG service:

"As a first time home buyer, Caitlin was a dream to work with. Always available to answer questions, her knowledge and guidance made buying a home less intimidating and more of a reality." - MK

"Caitlin is the best realtor I have worked with, hands down. Her dedication helped us close a sale on a tough property, proving her mettle in a tricky market." - Jason

These testimonials echo the sentiment that in the realm of high stakes real estate, having an ace like Caitlin in your corner is non-negotiable.

Crafting the Winning Bid in Edmonton's Real Estate Market

Amidst swelling anticipation for housing options and the rise of seller dominance, the ICONIC YEG playbook offers strategic plans that buyers can adopt:

  1. Set the Foundation with a Firm Pre-approval:

A strong pre-approval catapults you from bystander to contender, signifying serious intent and readiness to act.

  1. Craft a Clean Offer:

Caitlin advocates crafting consise contingencies to create an offer that's as crisp as it is compelling, making it difficult for a seller to pass up.

  1. Skip Personal Property Requests:

Keeping the deal professional and straightforward by focusing solely on the property increases the potency of your bid.

  1. Offer Fairly and Competitively:

A strategic nudge over asking price may seal the deal, proving a small price for a significant investment.

  1. Lay Down a Solid Earnest Money Deposit:

An earnest deposit acts as a reinforcement of commitment, bolstering the seller's confidence in your proposal.

Overcoming Challenges: Staying Resilient

The message is clear: persistence pays off. Even in the face of initial setbacks, Caitlin advises clients to maintain their course, reminding them that the perfect opportunity may still lie ahead.

The ICONIC YEG Difference: Legacy of Success

In Edmonton's 2024 real estate scene, the battle for the perfect home is wondrous and fierce. Buyers need to stay alert and ready to act with confidence. With ICONIC YEG, success is not just a possibility; it's within reach.

Are you prepared for the ICONIC YEG experience? It's your move.



Multiple Offers?! What do I do?

After months, maybe years of searching you have finally found your dream home.  Problem is, so did 5 other people and you are going to be competing with them in multiple offers to purchase this home.

Multiple offers are becoming more and more common in today's hot real estate market, but there are still some steps you can take to make your offer stand out. Here are a few tips to help you make your offer the successful one:

1. Make sure you are pre-approved or pre-qualified for a mortgage before submitting an offer - Being pre-approved or pre-qualified can demonstrate to the seller that you are serious and have the ability to purchase their home.

2. Submit a competitive offer with limited conditions - Consider submitting an offer that is a bit higher than the others limited contingencies or time frame to complete. This will demonstrate to the seller that you are serious.

3. Make sure your offer has a short closing period - A shorter closing period can show the seller that you are ready and willing to move quickly if your offer is accepted.

4. Include a personal letter - A personal letter to the seller can show them that you are passionate about buying their home and may appeal to their personal nature.

5. Be willing to negotiate - Being open and willing to negotiate can show the seller that you are a reasonable buyer and will be fair in any counter offers. Making sure you understand the market value of their home and what you are willing to pay for it. 

6. Consider including an escalation clause - An escalation clause can be used to ensure that your offer is the highest offered, or at least close to it. This will help guarantee you get the house if your original offer wasn't accepted among others. 

7. Be prepared to move fast - Acting quickly and decisively when making an offer can show the seller that you are serious about their home. This can help increase your chances of getting the house and closing the deal quickly.

8. Research potential problems - It is important to research any potential problems with a property before making an offer, such as home repairs, zoning issues and more. This will help you make an informed decision on the fair market value for the property and decide if making an offer is worth it.

9. Be flexible - Taking the time to understand what is important to the seller can be beneficial when negotiating a deal. Be willing to negotiate terms such as closing costs or other​​ ​​​ financial incentives that can make the sale more attractive to the seller.

10. Get a professional - Hiring a real estate professional can help you navigate the home buying process, as well as provide guidance and advice on making an offer that is in your best interest. 

Need help navigating the Edmonton Real Estate Market? Call us, let's chat about your options.  


Q3 Edmonton Real Estate Market Update

Edmonton Real Estate Market Report: Quarter Three, 2022

2022 has been a wild ride with extreme changes, not unlike the weather in Edmonton.  Unprecedented amount of factors including the pandemic, rising interest rates, gas prices, inflation, and the war in Ukraine all contributed to an everchanging and quick adjustments in the Real Estate market.

The first quarter offered sellers an incredible opportunity as interest rates remained low, buyers were highly active, and inventory was sparse.  With lineups out front doors, multiple offers, and quick sales - buyers were at an incredible disadvantage and some were left with nothing to buy. While sellers who acted fast and listed their homes early in the year, enjoyed the quick sales and opportunity to move.

The second quarter of the year brought many more sellers to the market as they were catching wind of how much and how fast properties were trading for at the start of the year and buyers began to get a reprive from the agressive market; however homes in the SW of Edmonton continued to prevail as the hottest and most in demand homes.

This past quarter has been much slower than the previous two, ending with lots of available inventory that does not quite match the current needs of buyers.  A shocking 70% of all Single Family Homes that sold during Q3 in Edmonton were under $500,000; while currently only 60% of available invertory is priced at that level.

Fewer homes sold in Q3 of 2022 than they did in Q3 of 2021:

What is more interesting, is the value of the homes that sold in Q3 of 2022.  Over 70% of all Single Family homes sold, in Edmonton, were under $500,000:

The current available inventory of homes for sale in Edmonton does not match the previous wants of buyers, with a higher level of inventory in the luxury market then is actually selling.

If you are a seller in this market, there are a few tips to stay competitive to get your house sold before winter takes hold:

For Sellers:

  • PRICE: Currently, buyers tend to be pickier about the price they’re willing to pay due to rising interest rates and a lower affordability threshhold. Really hone in on the listing price you’re comfortable with — if you want to sell quickly, consider listing it on the lower side.
  • CURB APPEAL: Never underestimate the power of a well-manicured lawn and pretty flower boxes to grab the attention of potential buyers. Make sure the front of your house is looking its best — you never get a second chance to make a first impression. Buyers often drive around their preferred neighbourhoods window shopping, so give them show-stopping curb appeal they can’t ignore.
  • KNOW YOUR WEAKNESSES: While hiring a house inspector is usually done by buyers making an offer, get ahead of the game and hire one as a seller. Having that report available for potential purchasers takes one task off their plate and that might swing the scales.
  • SHOW THE BEST: Nothing puts off potential buyers like a home they can’t even see thanks to stacks of papers, overflowing cupboards and messy countertops. Go through each room and pack up 50 per cent of the “stuff” — then store, donate or trash it. When people walk into their potential dream home, they want to see large, airy rooms not shelves packed with personal knickknacks.
  • APPEAL TO THE MASSES: Millennials make up the largest cohort of buyers in Canada right now so consider adding features that appeal to this generation. Consider upgrading lighting, hardware or even appliances - $2000 upfront could mean the difference of a sale.
  • STAND OUT:  it’s all about making your property stand out in a sea of comparable properties. Offering something more creative than just your regular financial incentives, such as prepaying taxes or a year’s worth of landscaping services or paying homeowners’ association dues are just two examples of outside-the-box incentives.


If you are a buyer in this market - you may be able to secure that high value home at a much lower price; however read below for tips on maximizing the value in this current market:

For Buyers:

  1. Get Pre-Approved: There is nothing more defeating then looking at a home you come to learn, you can not afford.  It also gives you the opportunity to shop around for the best deal and the best interest rates. 
  2. Work with an Agent: Even before you start looking, even before you attend an open house.  A professional can and will give you more options and ensure you stay on the competitive track when negotiating for your dream home.
  3. Have a Buget and a Plan:  Of course, you won’t be able to afford everything on your wish list. So, make two lists: everything you want in a home and everything you can’t live without.   
  4. Do Not Get Dstracted by the Pretty Things.  Houses are an investment, they cost money.  Shocker right?  When you have the pick of available homes you should put higher value in the mechanical and structural integrity of the home.  Roof! Furnace! Windows! Plumbing! Electrical! Foundation!  These are the BIG TICKET items that should be the highest priority - not the wallpaper in the bathroom.
  5. Consider Future Revenue: With so much uncertainty about the economic future, you might want to consider purchasing a home that could or does have a secondary suite (ie. basement suite).  While you never have to rent it, having the option in the future could offset some expences if jobs, economy, or life took an unexpected turn.
  6. Location is Everything.  A home can be renovated, the location cant.
  7. Put Together an ICONIC Home Buying Dream Team: including an experienced  real estate agent, professional home inspector and mortgage lender; if you’re buying investment property, add a tax expert and a real estate attorney. All of these professionals should willingly and kindly share their knowledge and expertise. If not, find someone else.

Everyone needs a plan, and we can help.

 If you are a buyer or a seller looking to make a move in Edmonton - contact us for more information on how to be the most competitive and ensure you are getting the highest level of value.

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