The renewed slowdown in global economic activity is putting further downward pressure on already-weak residential property markets across much of the developed world, according to the latest Global Real Estate Trends report released Tuesday by Scotia Economics.

And while Canada’s hot housing market also has begun to cool, it remains a “notable outperformer,” says Adrienne Warren, senior economist and real estate specialist with Scotia Economics.

Of the nine major developed markets tracked by Scotia Economics, with available second quarter data, only Canada, France and Switzerland registered positive year-over-year real price growth.

The report said Canada’s housing market stands out in its resilience and longevity. Average inflation-adjusted existing home prices were up five per cent year-over-year in the April-June period, on par with the first-quarter’s pace of appreciation. Data for July and August point to continued firm but stable sales through the late summer, alongside a levelling out in prices, it said.

“Ultra-low interest rates will continue to support affordability in the face of record high prices,” said Warren. “Nonetheless, heightened economic uncertainty combined with recent signs of a loss of momentum in Canada’s jobs market could keep some potential buyers on the sidelines for the time being. On balance, we anticipate a modest slowdown in the volume of sales transactions heading into year-end, alongside relatively flat prices.”

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Zone 10 -  Crestwood, Parkview, Valleyview, Laurier Heights

Zone 11 -  Glenora

Zone 20 -  Aldergrove, Belmead, Callingwood, Dechene, Donsdale, Gariepy, Hawthorne Hill, Jamieson Place, Le Perle,

Lymburn, Ormsby Place, River Valley Ctry, Sherwood, Summerlea, Terra Losa, Thorncliffe, Vistula, Westridge

Zone 22 -  Emwood, Glenwood, Jasper Park, Lynwood, Meadowlark Park, Oleskiw, Patricia Heights, Quesnell Heights, Rio Terrace

Zone 58 -  Breckenridge, Greens, Glastenbury, The Hamptons, Normandeau Gardens, Potter Green, Lewis Estates, Triple A Acres

 Current Active Listings in West Edmonton

 

 

 

Sold Listings in West Edmonton in August 2011

DOM = Days on the Market

LP = List Price

SP = Sold Price

Zone 01 -  Athlone, Calder, Kensington, Lauderdale, Rosslyn, Wellington

Zone 04 -  Dovercourt, Hagman Est Ind, Prince Charles, Sherbrooks

Zone 07 -  Inglewood, North Glenora, Westmount, Woodcroft

Zone 21 -  Britannia,/Youngstown, Canora, Grovenor, High Park/Edm, Jasper Place, Mayfield, McQueen

Zone 27 -  Barnow, Batyrn, Beaumaris, Caenarvon, Canossa, Carlisle, Carlton, Chambery, Cumberland, Dunluse,

Elisnore, Hudson, Lorelei, Oxford, Palisades, Pembina, Rapperswill, Rural North West

Zone 59 -  Rural West Big Lake, Westview Village, Mobile Park, Winterburn Ind East

Zone 40 - 

 Current Active Listings in Northwest Edmonton

 

 

 

Sold Listings in Northwest Edmonton in August 2011

DOM = Days on the Market

LP = List Price

SP = Sold Price

Zone 02 -  Evansdale, Northmount, Glengarry, Klikenny, Kildare, Delwood, Mcleod, York,

Cassleman, Miller, Balwin, Belvedere, Killarney, Elmwood Park, Dalton

Zone 03 -  North Swale, Matt Berry, Hollick Kenyon, Brintnell

Zone 06 -  Newton, Montrose

Zone 09 -  Highlands, Edmonton Northlands, Virginia Park, Cromdale

Zone 23 -  Berman, Abbotsfield, Beacon Heights, Beverly Heights, Rundle Heights

Zone 28 -  Ozerna, Mayliewan, Belle Rive, Eaux Claite, Schonsee, Klarvatten, Lago Lindo, Crystallina Nera, Joviz

Zone 35 -  Kirkness, Fraser, Hairsine, Clareview Campus, Bannerman, Sifton Park, Belmont, Kernohan, Homesteader,Overlanders, Canon Ridge

Zone 43 -  Clover Bar Area, East Edmonton

Zone 50 - 

Zone 51 - 

 Current Active Listings in Northeast Edmonton

 

 

 

Sold Listings in Northeast Edmonton in August 2011

DOM = Days on the Market

LP = List Price

SP = Sold Price

Zone 17 -  Argyll, Avonmore, Hazeldean, King Edward Park, Ritchie.

Zone 18 -  Bonniedoon, Cloverdale, Holyrood, Idlewylde, Kenilworth, Ottwell, Strathearn.

Zone 19 -  Capilano, Forest Heights, Fulton Place, Gold Bar, Terrace Heights, Millwoods.

Zone 29 -  Bisset, Crawford Plains, Daly Grove, Ekota, Greenview, Hillview, Jackson Heights, Kameyosek, Kiniski Gardens, Lee Ridge, Mensia, Mayonohk, Michaels Park, Millwoods Park, Minchau, Pollard Meadows, Richfield, Sakaw, Satoo, Tawa, Tipaskan, Tweddle Place, Weinlos

Zone 30 -  Larkspur, The Meadows, Silver Berry, Wildrose

Zone 41

Zone 42

Zone 53

Zone 54

Edmonton South East Homes For Sale

Edmonton South East Condos For Sale

 Current Active Listings in South East Edmonton

 

 

 

Sold Listings in South East Edmonton in August 2011

DOM = Days on the Market

LP = List Price

SP = Sold Price

Zone 24

 

 Current Active Homes For Sale in St. Albert

 

 

Sold Homes – St. Albert in August 2011

DOM = Days on the Market

LP = List Price

SP = Sold Price

Zone 82

Beaumont Homes for Sale

Beaumont Condos for Sale

 Current Active Homes For Sale in Beaumont

 

 

Sold Homes – Beaumont in August 2011

DOM = Days on the Market

LP = List Price

SP = Sold Price

Zone 81

Leduc Homes for Sale

Leduc Condos for Sale

 Current Active Homes For Sale in Leduc

 

 

Sold Homes – Leduc in August 2011

DOM = Days on the Market

LP = List Price

SP = Sold Price

Zone 5 -  Alberta Avenue, Delton, Eastwood, Elmwood Park, Park Dale

Zone 08 -  Central McDougall, Edmonton Municipal, Prince Rupert, Queen Mary Park, Spruce Avenue, Westwood, Yellowhead Corridor

Zone 12 -  Downtown Edmonton, Oliver, Rossdale

Zone 13 -  Boyle Street, McCauley, Riverdale

Central Edmonton Homes For Sale

Central Edmonton Condos For Sale

 Current Active Listings in Central Edmonton

 

 

 

Sold Listings in Central Edmonton in August 2011

DOM = Days on the Market

LP = List Price

SP = Sold Price

Zone 25

Sherwood Park Homes For Sale

Sherwood Park Condos For Sale

 Current Active Homes For Sale in Sherwood Park

 

 

Sold Homes – Sherwood Park in August 2011

DOM = Days on the Market

LP = List Price

SP = Sold Price

Zone 17 -  Argyll, Avonmore, Hazeldean, King Edward Park, Ritchie.

Zone 18 -  Bonniedoon, Cloverdale, Holyrood, Idlewylde, Kenilworth, Ottwell, Strathearn.

Zone 19 -  Capilano, Forest Heights, Fulton Place, Gold Bar, Terrace Heights, Millwoods.

Zone 29 -  Bisset, Crawford Plains, Daly Grove, Ekota, Greenview, Hillview, Jackson Heights, Kameyosek, Kiniski Gardens, Lee Ridge, Mensia, Mayonohk, Michaels Park, Millwoods Park, Minchau, Pollard Meadows, Richfield, Sakaw, Satoo, Tawa, Tipaskan, Tweddle Place, Weinlos

Zone 30 -  Larkspur, The Meadows, Silver Berry, Wildrose

Zone 41

Zone 42

Zone 53

Zone 54

Edmonton South East Homes For Sale

Edmonton South East Condos For Sale

 Current Active Listings in South East Edmonton

 

 

 

Sold Listings in South East Edmonton in August 2011

DOM = Days on the Market

LP = List Price

SP = Sold Price

Homebuilding in the Edmonton region took an upswing in August, according to the Canada Mortgage and Housing Corp.

The federal agency said Friday there were 805 housing starts in the Edmonton census metropolitan area, up 16.7 per cent from 690 in the previous month.

The increase was attributed to more activity in the multi-family market.

There were 311 multi-family homes started in August, up 82 per cent from 171 units started the same month a year ago.

While single-family home construction is well behind last year’s pace, builders in August poured foundations for 494 single-detached homes, down just five per cent from 519 started in August 2010.

“The wet weather in June and July likely pushed some starts into August,” said CMHC senior market analyst Richard Goatcher.

“With dryer conditions last month, builders were able to excavate and put foundations in the ground, closing the gap between this year’s and 2010’s production levels.”

For the year to date, there were 3,199 single-detached starts across the region — down 26 per cent from the same period last year.

By contrast, multi-family starts in 2011 are just shy of last year’s pace — 2,691 in the first eight months compared to 2,700 in the same period of 2010.

For the year-to-date, all housing starts in the region totalled 5,890, down from 7,018 during the first eight months of 2010.

Housing starts across Alberta’s seven largest centres totalled 2,396 homes in August, up 32 per cent year-over-year.

ATB Financial senior economist Todd Hirsch said the province’s residential construction industry shows signs of picking up speed after a slow year so far.

“Since the recession, activity in the provincial construction sector has been slow to rebound,” Hirsch said in his daily economic commentary.

He said an oversupply of condominiums and other multi-family homes had subdued residential construction across the province.

“Although reading too much into one or two months of data can be deceiving, the surge in both starts and permits over the summer is probably a sign that some of the strength observed in other sectors of the economy (e.g. the energy sector) is starting to have feed-through effects on other sectors like residential construction.”

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The average* price of a single family home has remained remarkably stable for the past four years according to figures released by the REALTORS® Association of Edmonton.

The average selling price in August has varied from a high of $372,000 in 2008 to the low of $367,700 in 2009. Last month SFDs sold on average for $370,438. Prices have varied within a range of just over one percent.

“Consumers are wary in the face of uncertainty in the global economic markets and they receive constant reminders from federal officials about the dangers of carrying too much debt. Other real estate markets have seen recent boom and bust cycles that are not evident in our local market,” said REALTORS® Association of Edmonton President Chris Mooney.

“Residential property is holding its value and the economic prospects for the Alberta and Edmonton markets show real growth potential in the next few years.”

Condo prices have slipped seven percent since 2008 because of an oversupply and lack of demand resulting from tighter mortgage qualification rules. In August 2008, the average price for a local condo was $248,000. This past August it was just $231,735. Overall, the all residential price has varied from $329,600 in 2008 to $324,217 this year (August figures).

In August 2011, there were 969 single family homes reported sold through the Multiple Listing Service® with 428 reported condo transactions with a total of 1,507 reported sales of all types of residential property. There were 1,564 total residential sales in July 2011 reflecting the typical pattern of slower sales as we head into fall.

“A stable market place and slightly lower prices combined with a slower sales cycle means that there are homes available in all price ranges,” said Mooney. “The residential median price ($315,000) remained almost the same as the previous month while the average prices dropped. This indicates that there is a softening of prices at the upper end of the market. Under these conditions, sellers with property priced below the average price for their property type and location will attract more attention and get a quicker sale.”

The sales to listing ratio notched up four percent to 51% as a result of steady listing activity and the typical sales cycle stretched to an average of 57 days-on-market indicating slower sales in August.

Zone 14 -  Brander Gardens, Brookside, Brookeside, Buylea Heights, Carter Cresc, Falconer Heights, Haddow, Henderson Estates, Hodgson, Legar, Ogilvie Ridge.

Zone 15 -  Allendale, Belgravia, Empire Park, Garneau, Grandview Heights, Landsdown, Lendrum Place, Malmo Plains, McKernan, Park Allen, Pleasant View, Queen Alexandra, Strathcona, Windsor Park.

Zone 16 -  Aspen Gardens, Royal Gardens, Rideau Park, Duggan, Greenfield, Westbrook Estate, Sweet Grass, Blue Quill Estates, Steinhauer, Ermineskin, Skyrattler, Keheewin, Twin Brooks, and Bearspaw.

Zone 55 -  Blackburne, MacEwan, and Richford

Zone 56 -  Windermere Estates

Zone 57 -  Woodbend Estates

Edmonton South West Homes for Sale

Edmonton South West Condos for Sale

 Current Active Listings in South West Edmonton

Sold Listings in South West Edmonton in August 2011

DOM = Days on the Market

LP = List Price

SP = Sold Price