When most people think of Edmonton, they envision its vibrant arts scene, stunning river valley, and a dynamic economy. However, another aspect of this city is making waves—its burgeoning luxury real estate market. The Iconic YEG Real Estate Team is at the forefront, showcasing some of Edmonton's most prestigious properties, which offer a unique blend of opulence, innovation, and sophistication. Here’s a glimpse into what makes Edmonton’s luxury real estate market so unique.

The Rise of Luxury Living in Edmonton

Edmonton has long been known for its comfortable living and high quality of life, but in recent years, the city has also become a hotspot for luxury real estate. The market has evolved, with developers and architects pushing the boundaries of design and comfort, catering to an elite clientele who seek more than just a home—they seek an experience.

Architectural Masterpieces

One of the defining features of Edmonton's luxury real estate market is its architectural diversity. From sleek, modern glass towers in downtown to sprawling estates nestled in the city’s most exclusive neighborhoods, these homes are more than just buildings—they are works of art.

Take, for example, the estates in Windermere, known for their custom designs, sprawling acreage, and breathtaking views of the North Saskatchewan River. These homes often feature state-of-the-art amenities like private cinemas, wine cellars, indoor pools, and even private gyms. The attention to detail is unparalleled, with every aspect of the home being meticulously crafted to reflect the owner’s personality and lifestyle.

View Luxury Homes in Windermere

Location, Location, Location

In real estate, location is everything, and Edmonton’s luxury properties are no exception. The city’s high-end homes are strategically situated in areas that offer privacy, scenic views, and proximity to essential amenities. Neighborhoods like Crestwood, Glenora, and Westbrook Estates are known for their mature trees, winding roads, and large lots that provide a sense of seclusion while still being close to the city's core.

View All Luxury Single Family Homes

Luxury condos in the downtown area also offer a unique lifestyle. With panoramic views of the city skyline and river valley, these high-rise residences offer the perfect balance of urban living and serene retreat. Residents can enjoy the best of both worlds—an active lifestyle with easy access to Edmonton’s top restaurants, shops, and cultural venues, and a peaceful oasis to return to at the end of the day.

VIEW ALL LUXURY CONDOS IN EDMONTON

The Clifton: Edmonton's Newest Luxury Landmark

One of the most anticipated additions to Edmonton’s luxury real estate market is The Clifton, a stunning new development by Autograph Group. Nestled in the heart of the city, The Clifton redefines urban living with its blend of timeless elegance and modern sophistication. This exclusive development offers a limited number of residences, each designed with meticulous attention to detail, featuring floor-to-ceiling windows, gourmet kitchens, and spa-inspired bathrooms. Residents will enjoy unparalleled amenities, including a state-of-the-art fitness center, a rooftop terrace with panoramic views, and a private lounge for entertaining. The Clifton is more than just a place to live—it's a lifestyle, offering the perfect balance of luxury, comfort, and convenience in one of Edmonton’s most sought-after locations.

This addition reinforces Edmonton's reputation as a city where luxury living thrives, making it a must-see for discerning buyers looking for their next dream home.

SCHEDULE A VIEWING AT THE CLIFTON

The Iconic YEG Difference

At the Iconic YEG Real Estate Team, we understand that buying a luxury property is not just about finding a place to live—it’s about finding a space that resonates with your identity and supports your lifestyle. Our team is dedicated to offering a personalized experience, helping clients navigate the market to find the home that best suits their needs.

Whether you’re looking for a historic estate with character or a modern marvel with the latest technology, we have the expertise and connections to make your dream a reality. We pride ourselves on our ability to understand the nuances of the luxury market, providing our clients with the most up-to-date information and the highest level of service.

Edmonton’s luxury real estate market is as diverse and dynamic as the city itself. With a blend of architectural innovation, prime locations, and unparalleled amenities, these properties offer an exceptional lifestyle that goes beyond mere comfort. If you’re considering entering this elite market, the Iconic YEG Real Estate Team is here to guide you every step of the way, ensuring that your journey to finding the perfect home is as luxurious as the properties themselves.

Discover the epitome of luxury living in Edmonton with the Iconic YEG Real Estate Team. Your dream home awaits.

When it comes to owning a home in Edmonton, understanding property taxes is crucial. However, the process can seem complex and daunting for many homeowners. In this blog, we'll break down how property taxes in Edmonton are calculated and provide insights into what you can expect for 2024 and 2025.

How Are Property Taxes Calculated?

Property taxes in Edmonton are calculated based on two main factors: the assessed value of your property and the tax rate set by the City of Edmonton.

1. Assessed Value of Your Property:

   • Every year, the City of Edmonton assesses the value of properties across the city. This assessment is based on the market value of your property as of July 1st of the previous year. The assessment takes into account various factors, including the size of your home, the lot size, location, and recent sales of similar properties in your area.

   • For example, the assessed value used for your 2024 property taxes would be based on the market conditions and property characteristics as of July 1, 2023.

2. The Tax Rate:

   • The tax rate is set by the City of Edmonton and is expressed in "mills" or "millage rate." One mill represents $1 of tax for every $1,000 of the assessed property value. The city determines the tax rate based on the budgetary needs for public services, including schools, emergency services, and infrastructure maintenance.

   • Each year, the City Council approves the tax rate based on the financial requirements of the municipality. This rate can fluctuate based on economic conditions, inflation, and the city's budgetary needs.

What Can Homeowners Expect in 2024 and 2025?

As we move into 2024 and 2025, several factors may impact your property taxes:

1. Rising Home Values:

   • Edmonton's real estate market has seen fluctuations in recent years, with some areas experiencing rising home values. If your property’s assessed value increases, you may see a corresponding rise in your property taxes, even if the tax rate remains unchanged.

2. City Budget Adjustments:

   • The City of Edmonton may adjust tax rates based on its budget needs. With ongoing investments in infrastructure, public transit, and other community projects, there could be slight increases in the tax rate to accommodate these expenses. It’s important to stay informed about City Council decisions, as these will directly impact your tax bill.

3. School Taxes:

   • A portion of your property taxes goes towards funding public education. In 2024 and 2025, school taxes may fluctuate depending on provincial funding allocations and local school board requirements. The amount allocated to school taxes is determined by the province and can vary each year.

4. Tax Relief Programs:

   • For homeowners facing financial difficulties, Edmonton offers tax relief programs, such as the Seniors Property Tax Deferral Program and the Tax Installment Payment Plan (TIPP). These programs can provide relief by deferring payments or allowing you to pay in monthly installments rather than a lump sum.

Planning for the Future

Understanding how property taxes are calculated and what factors influence them can help you plan your finances better. Here are a few tips to keep in mind:

• Review Your Assessment: Every January, the City of Edmonton sends out property assessment notices. Review yours carefully. If you believe your property has been over-assessed, you can file a complaint through the City's assessment review board.

• Budget Accordingly: Since property taxes are a recurring expense, it’s wise to budget for potential increases each year. Setting aside funds regularly can help ease the financial burden when the bill arrives.

• Stay Informed: Keep an eye on City Council meetings and decisions that may impact property taxes. Being proactive will ensure you're not caught off guard by sudden increases.

Final Thoughts

While property taxes can seem complex, understanding the basics of how they are calculated and what factors influence them can help you better manage this important aspect of homeownership. As we approach 2024 and 2025, staying informed and planning ahead will allow you to navigate any changes in property taxes with confidence.

If you have any questions or need further guidance, the Iconic YEG Real Estate Team is here to help. Contact us today to discuss your property tax concerns or any other real estate needs.

Caitlin Jane Heine

Owner | Agent

587-336-3176

caitlin@iconicyeg.com

www.iconicyeg.com

When considering a new home, especially for families, the quality of nearby schools is often a top priority. As a realtor, I know firsthand how vital it is to find a neighborhood that not only feels like home but also offers access to top-tier educational opportunities. Edmonton is fortunate to have a wealth of excellent schools, making it a fantastic city for families. Here’s a closer look at some of the best schools in Edmonton and how their presence can impact your real estate decisions.

Why Schools Matter in Real Estate

In real estate, the phrase "location, location, location" is more than just a cliché—it’s a guiding principle. One of the critical factors in choosing the right location is the quality of schools in the area. A home near a top-rated school isn’t just about convenience for daily school runs; it’s also a sound investment. Homes in these areas tend to retain their value better and attract more interest from buyers. This is especially true in Edmonton, where families prioritize education and are often willing to pay a premium for homes in desirable school catchment areas.

Top Schools in Edmonton

Edmonton is home to many excellent public, Catholic, and private schools, each offering unique programs and advantages. Here are some of the standout options:

1. Old Scona Academic High School: Located in the heart of Old Strathcona, Old Scona Academic High School consistently ranks as one of the top schools in Alberta. It offers the International Baccalaureate (IB) program, known for its rigorous curriculum that prepares students for university and beyond. Living near Old Scona provides students with easy access to this elite academic institution and places you in a vibrant, historic community.

2. Westbrook School: Situated in the southwest neighborhood of Aspen Gardens, Westbrook School is known for its strong academic program and supportive community. The school offers the Cogito program, which emphasizes high academic standards, strong work habits, and a structured learning environment. Homes in Aspen Gardens and the surrounding areas are highly sought after, thanks in part to the presence of Westbrook School.

3. Harry Ainlay High School: Located in the southside neighborhood of Royal Gardens, Harry Ainlay High School is another top contender, offering both the IB program and a wide array of extracurricular activities. Its large, diverse student body makes it a vibrant community hub. The nearby neighborhoods of Royal Gardens, Greenfield, and Blue Quill are ideal for families looking to balance access to top education with affordable living options.

4. Grandview Heights School: Grandview Heights School offers a unique K-9 program in a central location close to the University of Alberta. Known for its strong academic focus and inclusive community, it’s a popular choice for families looking to provide their children with a solid educational foundation. The surrounding Grandview Heights neighborhood is a peaceful, family-oriented community that’s close to many amenities.

The Real Estate Connection

Proximity to these top schools significantly impacts real estate values. Homes in these neighborhoods often see higher appreciation rates and attract more buyers when it’s time to sell. For families, purchasing a home near a top-rated school is not just about current convenience—it’s about future investment.

However, it’s essential to consider other factors as well, such as the overall community vibe, accessibility to work and amenities, and long-term growth potential of the area. As the owner of Iconic YEG Real Estate and someone deeply rooted in the Edmonton community, I’m here to guide you through these decisions, ensuring that you find a home that meets all your family’s needs.

Conclusion

Whether you’re buying your first home or looking to move to a different part of the city, understanding the impact of school quality on real estate is crucial. Edmonton’s best schools offer more than just excellent education; they also contribute to the strong sense of community and long-term value that families are looking for.

FULL EDMONTON SCHOOL GUIDE

If you’re considering a move and want to explore neighborhoods with top-rated schools, feel free to reach out. At Iconic YEG Real Estate, we’re passionate about helping you find a home that’s perfect for your family’s present and future.

Call me direct at 587-336-3176

Navigating Edmonton’s real estate market can be daunting, especially with its dynamic landscape and competitive nature. Whether you’re a first-time buyer or looking to upgrade, securing the best deal requires a mix of preparation, strategy, and local knowledge. Here’s how you can increase your chances of landing your dream home without breaking the bank.

1. Understand the Market Trends

Before diving into the home-buying process, take the time to understand the current market trends in Edmonton. The market can fluctuate due to various factors like economic conditions, interest rates, and seasonal changes. Partnering with a knowledgeable real estate team like ICONIC YEG can give you insights into these trends and help you time your purchase strategically.

2. Get Pre-Approved for a Mortgage

One of the first steps in securing the best deal is getting pre-approved for a mortgage. This not only gives you a clear idea of your budget but also makes you a more attractive buyer in the eyes of sellers. In a competitive market, sellers often prioritize buyers who are financially ready to close the deal quickly.

3. Work with a Local Real Estate Expert

Having a local real estate agent who knows Edmonton’s neighborhoods inside out is crucial. The ICONIC YEG Real Estate Team has the expertise to guide you through the complexities of the market, helping you identify which areas offer the best value for your money. Our agents can also provide insider information on upcoming listings, giving you a competitive edge.

4. Be Ready to Act Fast

In a competitive market, hesitation can mean missing out on a great opportunity. Once you find a home that meets your criteria, be prepared to make an offer quickly. This doesn’t mean rushing into a decision, but having all your financial and legal documents in order so you can move forward when the right property comes along.

5. Negotiate Smartly

Negotiation is an art, and in a hot market, it’s important to strike the right balance between making a strong offer and securing a fair price. At ICONIC YEG, we understand the nuances of negotiation and will work tirelessly to ensure you get the best deal possible. This could involve negotiating not just on the price, but also on terms like closing dates, repairs, and included appliances.

6. Consider Off-Market Properties

Sometimes, the best deals are found off the beaten path. Off-market properties, also known as “pocket listings,” are homes that aren’t listed on the MLS but are for sale. These properties often face less competition, allowing you to negotiate a better deal. Working with an experienced team like ICONIC YEG can help you access these exclusive opportunities.

7. Don’t Skip the Home Inspection

While it might be tempting to waive the home inspection to make your offer more appealing, this could cost you in the long run. A thorough home inspection can reveal hidden issues that might affect the property’s value. Identifying these issues upfront allows you to negotiate repairs or a lower price, ensuring you’re not overpaying for a home that needs significant work.

8. Stay Calm and Be Patient

Finally, it’s important to stay calm and patient throughout the process. It’s easy to get caught up in bidding wars or feel pressured to make a quick decision. Remember that the best deals come to those who are patient and make informed choices. Trust the process, and rely on your real estate team to guide you through every step.

Conclusion

Securing the best deal in Edmonton’s competitive real estate market is about more than just finding the lowest price. It’s about making a smart, informed decision that aligns with your long-term goals. By following these tips and working with the ICONIC YEG Real Estate Team, you’ll be well-equipped to navigate the market and find a home that’s both a great investment and a perfect fit for your lifestyle.

Ready to start your home-buying journey? Reach out to Caitlin Heine, Owner of Iconic YEG Real Estate Team, today. With Caitlin’s deep expertise and personalized approach, you’ll have a trusted partner by your side to ensure you get the best possible deal on your next home. Contact Caitlin and the ICONIC YEG team to turn your real estate goals into reality.

Housing affordability remains a key concern in the Canadian real estate market. With mortgage rates around 6% and the challenge of saving for a 20% down payment, first-time homebuyers are facing significant hurdles. However, the dream of homeownership is still within reach, especially if you know where to look—and the Iconic YEG Real Estate Team is here to help guide you through the process.

While cities like Toronto and Vancouver often dominate the headlines, Canada is home to several affordable real estate markets where you can find great value. Here’s a look at some of the most budget-friendly areas across the country, and why Edmonton, with the help of the Iconic YEG Real Estate Team, could be your best bet for finding an affordable home.

Discovering Affordable Homes Across Canada

From the picturesque coasts of Newfoundland and Labrador to the scenic beauty of Cape Breton, Nova Scotia, there are many regions in Canada where home prices remain accessible. For instance, the Home Price Index in Newfoundland and Labrador was $291,100 in May 2024, offering excellent value for homebuyers. Similarly, Cape Breton’s average home price of $265,207 in the same period is one of the most affordable in Nova Scotia.

In Ontario, Sault Ste. Marie presents a more budget-friendly option compared to larger cities like Toronto, with benchmark prices hovering around $300,000. Meanwhile, in Manitoba, Brandon’s median sales price for single detached homes was $325,000, representing one of the most affordable options in the Prairies.

Why Edmonton Is the Perfect Place for First-Time Buyers

Among these affordable markets, Edmonton stands out as a prime destination for first-time buyers and investors alike. Despite Alberta’s growing population and increased demand for housing, Edmonton remains one of the most affordable large urban centers in Canada. The benchmark price in the Greater Edmonton Area was below $400,000 at the end of the first quarter of 2024, making it an attractive option for those looking to enter the housing market without breaking the bank.

Invest in Edmonton’s Real Estate Market with Iconic YEG

Edmonton’s real estate market offers incredible opportunities, especially for investors. The city’s apartment-style condos are particularly ripe for investment. With an average price of about $202,000, these condos are not only affordable for first-time buyers but also provide significant returns for investors. A recent study by Zoocasa highlighted Edmonton as one of the top cities for condominium profitability, with the potential for a substantial difference between mortgage payments and rental income.

If you’re considering making a move in the Edmonton real estate market, the Iconic YEG Real Estate Team is here to assist. Led by Caitlin Heine, a RE/MAX Titan Club recipient, the team is dedicated to helping you find the perfect home or investment property. With their in-depth knowledge of the local market and commitment to providing personalized service, they can guide you through every step of the buying process.

Contact Iconic YEG Real Estate Team Today

Whether you’re looking to purchase your first home or seeking a lucrative investment opportunity, Edmonton’s real estate market has something to offer. The Iconic YEG Real Estate Team is ready to help you navigate this dynamic market and find a property that meets your needs and budget.

Don’t miss out on the chance to make your homeownership dreams a reality. Contact Caitlin Heine at caitlin@iconicyeg.com today to learn more about how the Iconic YEG Real Estate Team can assist you in finding the perfect property in Edmonton. Let us help you plant new roots without breaking the bank!

Preparing your home for the market can be an exciting yet daunting task. One of the most crucial steps in the selling process is getting your home ready for its photoshoot. This is the moment when your property will be showcased in its best light, literally and figuratively, to attract potential buyers. The day of the photoshoot can be one of the most stressful times during the home-selling process, as everything needs to be picture-perfect by the time the photographer arrives.

As real estate professionals, we understand the pressure our clients feel on photoshoot day. It's not uncommon for sellers to be frantically finishing the last steps as the photographer arrives, adding to an already stressful situation. However, with a little planning and some helpful tips, you can reduce the chaos and ensure that your home is ready to shine in front of the camera.

Why Preparation is Key

Your home's marketing is a critical factor in how buyers perceive your property and, ultimately, the price you'll receive. Professional photography and videography have become indispensable tools in real estate marketing, and for good reason. A skilled real estate photographer can make your home look incredible, highlighting its best features and creating an inviting atmosphere that appeals to buyers.

However, to get the most out of your photographer's expertise, it's essential that your home is fully prepared before they arrive. Here’s how to do it:

Real Estate Photography Pre-Shoot Checklist

1. Clear & Clean Kitchen Counters & Sink

The kitchen is often the heart of the home, so it's important to make it look as spacious and clean as possible. Remove all small appliances, utensils, and decorations from the countertops. A few decorative items are fine, but less is more. Make sure all surfaces, including the sink and appliances, are spotless.

2. Clear & Clean Bathroom Sinks, Tubs, and Showers

Bathrooms should be free of personal items like shampoo bottles, soaps, and razors. Store these items in a bin under the sink or in a closet. The goal is to make the bathroom look as open and clean as possible, with only neatly folded towels on display.

3. Replace Burned Out Light Bulbs

Check all the lights in your home, including lamps and exterior lights, to ensure they are working. Well-lit spaces photograph better, so consider adding extra lighting to darker areas.

4. Turn On All Lights Throughout the Entire House

Lighting is a crucial element in photography. Turn on all the lights in the house, including lamps and exterior lights, to brighten up the space and create a warm, welcoming atmosphere.

5. Open All Window Treatments

Natural light can enhance the beauty of your home. Open all curtains and blinds to let in as much light as possible. Clean windows will allow that light to flow in without distraction.

6. Remove Unnecessary Furniture & Decorations

Clutter can make rooms look smaller. Remove bulky furniture and excess decorations to open up the space. A professional stager can offer guidance on which items to keep and which to store away.

7. Remove Floor Mats and Runners

Floor mats and runners can make spaces look smaller and can distort the room's proportions in photos. Remove these items to create a cleaner, more expansive look.

8. Turn Off Ceiling Fans, TVs, and Computer Screens

Moving objects like ceiling fans can create strange effects in photos. Turn off all fans, TVs, and computer screens to prevent motion blur and distractions.

9. Clear Appliance Surfaces of Magnets and Clutter

Remove magnets, notes, and personal items from the refrigerator and other appliances. This helps to keep the focus on your home’s features, not your personal life.

10. Make All of the Beds

A well-made bed can make a room look inviting and well-kept. Use matching bedding that fits the mattress properly, and add decorative pillows to enhance the look.

11. Remove All Personal Photos and Items

Buyers need to envision themselves in your home, so remove personal photos and belongings from view. This step helps potential buyers focus on the home itself rather than on your personal life.

12. Put All Shoes & Jackets in Closets

Shoes and jackets left out can make your home seem cluttered and lacking in storage space. Store these items out of sight to create a cleaner, more organized appearance.

13. Clear All Night Stands and Dressers

Nightstands and dressers can quickly become cluttered with personal items. Clear them off, leaving only a lamp and a small decorative item to create a clean, serene space.

14. Tidy Up the Yard & Landscaping

First impressions are everything, and the exterior of your home is the first thing buyers will see. Ensure that your yard is well-maintained, with trimmed bushes and clean walkways.

15. Sweep up the Porch/Patio/Deck

Outdoor spaces should be clean and inviting. Sweep up any debris, remove unnecessary items, and stage the area with flowers or decorative pieces to create a welcoming environment.

16. Clear All Cars from Road & Driveway

Cars in the driveway can detract from your home's curb appeal. Move all vehicles, including neighbors' cars if possible, to create a clean, unobstructed view of your home.

17. Hide All Garbage Cans & Lawn Equipment

Garbage cans, garden hoses, and lawn equipment can be distracting in photos. Store these items in the garage or another out-of-sight location.

18. Remove Outdoor Cooker Covers

If you have a barbecue grill, remove the cover to showcase it as an amenity. If the grill is old and unsightly, consider removing it entirely.

19. Open Up Patio Umbrellas

If weather permits, open up patio umbrellas to create a staged, inviting outdoor space. Add fresh pillows and flowers to enhance the area’s appeal.

Final Thoughts

Preparing your home for a real estate photoshoot may seem like a lot of work, but the effort is well worth it. A well-prepared home not only looks better in photos but also attracts more buyers and can lead to a quicker, more profitable sale. By following this checklist, you can ensure that your home is ready to be showcased in the best possible light, allowing your real estate photographer to focus on capturing the beauty of your property without any distractions.

Remember, the goal is to present a home that buyers can see themselves living in—a clean, bright, and welcoming space that invites them to imagine their future there. With these tips, you’ll be well on your way to a successful and stress-free photoshoot.

Edmonton's real estate market sizzled this July, echoing the city's heatwave, with a notable increase in activity and sales. The Greater Edmonton Area (GEA) recorded 2,941 residential unit sales in July 2024, marking a 3.5% rise from June 2024 and a substantial 27.1% jump from July 2023. New residential listings also saw an uptick, reaching 3,729—up 2.9% from the previous month and 13.2% higher than last year. Despite the increase in listings, overall inventory in the GEA decreased by 1.4% from June 2024 and is down 15.1% compared to July 2023.

Sales by Property Type

• Detached Homes: 1,708 units sold, up 2.8% month-over-month and 23.5% year-over-year.

• Semi-Detached Homes: Sales decreased by 6.6% from June 2024 but increased by 13.0% compared to July 2023.

• Row/Townhouses: Sales rose by 4.7% from June 2024 and an impressive 52.0% from July 2023.

• Apartment Condominiums: Sales increased by 11.7% from June 2024 and 32.3% year-over-year.

Pricing Trends

The overall residential average price reached $440,466, representing a slight 0.4% increase from June 2024 and a 7.7% rise from July 2023.

• Detached Homes: Average price was $552,031, a 2.3% increase from the previous month and 9.8% higher year-over-year.

• Semi-Detached Homes: Averaged $406,906, down 3.6% from June 2024 but up 7.4% from July 2023.

• Row/Townhouses: Prices increased by 0.7% from June 2024 and 10.6% from the previous year, with an average of $292,072.

• Apartment Condominiums: Averaged $204,315, down 3.4% from last month but up 4.9% from July 2023.

The MLS® Home Price Index (HPI) composite benchmark price in the GEA stood at $406,600, down 0.4% from June 2024 but up 7.1% from July 2023.

Days on Market

• Detached Homes: Averaged 32 days, an increase of three days from June 2024.

• Semi-Detached Homes: Averaged 27 days, down by one day month-over-month.

• Row/Townhouses: Averaged 31 days, an increase of six days from June 2024.

• Apartment Condominiums: Averaged 43 days, up by one day from last month.

Overall, residential listings averaged 33 days on the market, up three days from June 2024 but down 12 days from July 2023.

Expert Insights

"July’s heatwave didn’t stop home buyers from making the most of the market this month,” says REALTORS® Association of Edmonton 2024 Board Chair Melanie Boles. “The number of sales saw an unexpected bump considering things normally start to taper off after May and June have passed, while the added competition doesn’t seem to have impacted home prices just yet. The lower inventory available is something to keep an eye on, as we’ve seen the effects too little supply has had on prices in other markets.”

Commercial Real Estate Activity

Edmonton’s real estate market continues to attract national attention due to its relative affordability compared to other major Canadian cities. This allure extends beyond the residential sector, with significant activity in commercial real estate. Local investors have been particularly active, stepping in where national investors hesitate. An Avison Young second quarter report noted that institutional investors accounted for just 5% of second quarter sales volume while local private investors swept in with 82% of the sales volume. Over the past 18 months, Edmonton has demonstrated a high degree of local activity. Notable recent purchases include:

• Whitemud Business Park

• Broadmoor Boulevard (Broadmoor Place A and B and VII and VIII)

• Clark Builders Place

• 5241 Calgary Trail

• 10451 170 Street

• Compass Place

• Plaza 124

• Parkwest Business Centre

• Phipps McKinnon Building

• Empire Building

• Sun Life Place

Local investors have seized opportunities created by institutional investors holding back. “I think it’s a real testament to those that are in the trenches here. They see an opportunity more so than those that aren’t in the local community,” said local expert Wosnack. Eleven of the twelve buildings recently purchased were from non-local investors, increasing the concentration of locally owned assets.

Key Factors Driving Local Investment

Wosnack attributed the interest from local investors to several key points:

1. Attractive Pricing: “We have more attractive pricing than we’ve seen in 20 years,” said Wosnack. Lower prices have made it an affordable time for local private investors, who face less competition than in previous years.

2. Stable Construction Costs: “We have had a flattening out of the cost to construct and furnish office space,” Wosnack noted. This stability is crucial for investors planning to renovate spaces to attract new tenants with amenities like gyms, collaborative spaces, or cafes.

3. Favorable Financing: “We also now have more attractive financing. We have predictability in the financial system. Interest rates have not only not gone up, they’ve actually now declined,” Wosnack added. The Bank of Canada cut its key interest rate to 4.5% in July, encouraging investment.

The Future of Edmonton’s Real Estate Market

The strong local investment activity is a positive sign for Edmonton’s commercial real estate market. Local investors are stepping in and taking advantage of favorable conditions, potentially heralding a new generation of investors. “It’s now opening doors for new investors to come forward and take advantage of these variables. And we’re going to have a new generation of investors that will be important parts of the real estate story,” Wosnack said.

Conclusion

Edmonton's real estate market remains robust and dynamic, with both residential and commercial sectors showing strong performance. As the market heats up, it presents numerous opportunities for buyers and investors alike. Stay tuned to the Iconic YEG Real Estate Blog for more updates and insights into Edmonton’s ever-evolving real estate landscape.

For more personalized real estate advice and to explore opportunities in Edmonton’s vibrant market, reach out to Caitlin Heine and the ICONIC YEG Real Estate Team.

We are thrilled to introduce the newest member of the ICONIC YEG Team, Allisha Mckenzie, a dynamic and passionate Real Estate Agent who brings a wealth of experience and enthusiasm to our award-winning group.

Allisha joins us from a distinguished 25-year career in the hospitality industry, where she led teams in some of Edmonton’s premier restaurants. Her dedication to delivering unparalleled customer service, coupled with her meticulous attention to detail, has earned her a stellar reputation. Allisha’s ability to anticipate and exceed client needs has been the cornerstone of her success, making her a perfect fit for the ICONIC YEG Team.

Allisha is now channeling her extensive skills and experience into the real estate market. Her background in hospitality has finely tuned her ability to create extraordinary experiences, ensuring that every client feels valued and supported throughout their real estate journey.

What sets Allisha apart is her empathetic nature and strong interpersonal skills. She connects effortlessly with clients from all walks of life, understanding their unique needs and delivering results that surpass expectations. Whether you’re a first-time homebuyer, looking to sell, or searching for your dream property, Allisha is committed to providing a seamless, enjoyable, and successful real estate experience.

Beyond her professional prowess, Allisha is a devoted mother of two who loves staying active through yoga, cardio, and adventurous activities. She enjoys exploring on her motorcycle with her husband, is a passionate animal lover, and continuously seeks knowledge through reading and learning. As a licensed life coach, she brings an additional layer of insight and support to her clients, ensuring they feel confident and empowered throughout their real estate journey.

Allisha’s addition to our team reinforces our commitment to providing exceptional service and exceeding client expectations. We are confident that her unique blend of skills, experience, and enthusiasm will be a tremendous asset to our clients and our community.

Please join us in welcoming Allisha Mckenzie to the ICONIC YEG Team. We are excited to see the positive impact she will undoubtedly bring, and we invite you to experience her exceptional service firsthand. Discover the difference with Allisha and the ICONIC YEG Team today!

Stay tuned for more updates and get to know Allisha better as she embarks on this exciting journey with us. Welcome aboard, Allisha!

Are you in the market for an incredible rental experience in Edmonton? Look no further than Sona Park Apartments in North Glenora! With stunning views, top-notch amenities, and a prime location, Sona Park offers the perfect solution for those waiting to make a purchase. Plus, don't miss our exclusive VIP Pre-Leasing Event this Saturday from 10 AM to 4 PM – be sure to register today!

Why Choose Sona Park Apartments?

Prime Location

Located in the charming neighborhood of North Glenora, Sona Park Apartments boast an unbeatable location. Residents enjoy easy access to beautiful parks, local shops, and top-rated schools, all while being just a short drive away from Edmonton’s vibrant downtown. Whether you're a young professional, a growing family, or a retiree looking for convenience and comfort, Sona Park is the ideal place to call home.

Stunning Views

One of the standout features of Sona Park is its breathtaking views of North Glenora Park. Imagine waking up each morning to the sight of lush greenery and open skies, providing a sense of tranquility and peace. These picturesque views make Sona Park a truly unique living experience in Edmonton.

Modern and Comfortable Living Spaces

Each apartment at Sona Park is meticulously designed to offer both style and comfort. Our spacious floor plans feature high-end finishes, modern appliances, and plenty of natural light. Whether you're hosting friends for a dinner party or enjoying a quiet evening in, our apartments provide the perfect backdrop for every occasion.

Community and Connection

Living at Sona Park means becoming part of a vibrant and welcoming community. Our residents enjoy regular events and activities that foster a sense of connection and belonging. From holiday parties to fitness classes, there’s always something happening at Sona Park.

Join Us for the VIP Pre-Leasing Event

Don’t miss out on the opportunity to secure your spot at Sona Park Apartments before anyone else! Join us for our exclusive VIP Pre-Leasing Event this Saturday from 10 AM to 4 PM. This event is the perfect chance to tour our stunning apartments, explore our amenities, and meet our friendly staff. Plus, attendees will enjoy special pre-leasing incentives and offers.

How to Register

To register for the VIP Pre-Leasing Event, simply visit our website at Sona Park and fill out the registration form. Spaces are limited, so be sure to secure your spot today!

Experience the Best of Edmonton Living

Sona Park Apartments in North Glenora offer an unparalleled rental experience in Edmonton. With a prime location, stunning views, top-notch amenities, and a welcoming community, Sona Park is the perfect choice for those looking to rent while waiting to make a purchase. Don’t wait – discover your new home at Sona Park today and join us for our VIP Pre-Leasing Event this Saturday!

For more information and to register, visit Sona Park Apartments. We can’t wait to welcome you to your new home!