Here's the August 2023 St. Albert real estate market update. Sales continue to be low compared to 2022, with only 102 sales in august of 2023 compared to 118 in August 2022. That's a 15% decrease. Year to date sales are down 17% so while the St. Albert real estate market is softer than it was last year, it's stronger than it was earlier in 2023. 

The average sale price is up though, which is a nice stat to see in St. Albert. Prices are up an average of 4.4% year over year, which the year to date prices are down 2%. This means that recent months have been much stronger for property values than earlier months of the year. In August 2023 the average sale price of St. Albert real estate was $460,000. 

It is still taking longer to sell a home in St. Albert than it was a year ago, taking on average 52 days compared to 38 days a year ago. 

Click here for the report.


Alberta’s population is on track for the fastest growth the province has seen since 1914. Statistics Canada released the first quarter 2023 population statistics, reporting approximately 51,000 people moved to Alberta between January and March of 2023. A third of those coming from other Canadian provinces.

“The most expensive cities, Vancouver, Toronto, I know Vancouver’s hitting record rates for rents. So a lot of people are getting priced out of those big cities, and are looking for more affordability, so they may be migrating to cities like Calgary and Edmonton because they’re a little bit more affordable,” said Crystal Chen, a spokesperson with Zumper.

Rental prices for a one bedroom apartment in Edmonton have increased 13 per cent since last year. In Calgary, the same apartment has increased 32 per cent.

Chen says that housing costs will continue to rise as demand increases, and has tips for those moving to Alberta with the intention of finding a rental.

“Winter months are the best times, that’s typically when property managers price units at lower rates to fill vacancies before the holidays. And if you can, offer to sign a longer lease, landlords like that and you can lock in a rate for a longer time instead of bouncing around every year when rents may be going up,” said Chen.

Housing costs aren’t the only thing to consider as Alberta’s population booms. Professor of economics, Moshe Lander says that while the growth is proof of an attractive province, a concern could be the infrastructure of Alberta’s major cities.

“The not necessarily good news is that public services and infrastructure are not keeping pace, or are not prepared for that influx. So over time, and I mean in the next 5 to 10 years, this could potentially be a problem,” said Lander.

Lander says that with a rapidly increasing population, Edmonton and Calgary should plan for rapidly increasing infrastructure costs as well.

“The costs rise not linearly, they rise almost exponentially. To link up the outer regions of Edmonton to the center requires a lot more investment than hooking up, say, the adjacent downtown part of Edmonton,” said Lander.

“So there is a point where it’s going to become a problem, and I were the mayor of Winnipeg, I’d be rubbing my hands together saying, in about 10 years, if they don’t figure it out, I’m going to make a move to grab Albertans telling them to come to the east end of the prairies.”

This article originally appeared at by Bianca Millions on June 29 2023.


More Canadian homeowners have opted for shorter-term mortgages in recent months, according to a new report, setting the stage for a large and potentially dangerous wave of renewals in a couple years’ time.

While five-year mortgage terms are typical, customers at Canada’s largest banks have recently been electing to sign up for shorter durations, likely in the hope that sky-high interest rates will be lower in the coming years, giving them a chance to refinance at a lower rate sooner.

It’s a trend worth watching, according to a report from RBC published last week, because if interest rates remain stubbornly high when these mortgages come up for renewal all at once — existing five-year mortgages along with the new, shorter-term loans — it could mean another big hit for household finances.

Homeowners have been struggling with rising rates for months and Statistics Canada said Tuesday that higher mortgage interest, which rose by more than 30 per cent in July year-over-year, was the biggest single contributor to the country’s annual rate of inflation ticking up more than expected last month.

“Many Canadian banks have recently seen a trend of customers choosing to renew their mortgages for two- or three-year terms as opposed to the most common five-year term given high interest rates,” according to the RBC report by analyst Darko Mihelic (the report was reissued Monday with a correction to certain estimates related to bank dividends).

Mihelic said mortgages set to mature within two to five years increased from the end of 2019 to the beginning of 2022, which is roughly when the Bank of Canada began its interest-rate hiking cycle in a bid to combat inflation.

Since then, mortgages in the two- to five-year maturity range have decreased while those set to mature within one to three months and one to two years have increased as a proportion of total residential mortgages.

“All in, we are seeing a shift in the duration of the mortgage portfolio and more and more mortgages will be maturing in 2025 and 2026 as a result,” the report said, adding it will be “worthwhile following this development, particularly if interest rates do not start to decline next year.”

“Hopefully interest rates will have (meaningfully) decreased before this event occurs as many borrowers will face meaningful mortgage payment increases should the current rate environment persist.”

Mihelic’s comments on the mortgage trends were part of a preview of the big banks’ third-quarter financials, which they are set to report beginning Aug. 24.

The RBC analyst said he expects earnings per share at TD, BMO, CIBC, Scotiabank and National Bank to decrease on average by about six per cent year-over-year (Mihelic doesn’t cover his employer).

He noted that a major factor in the expected decline is a drop in mergers and acquisition activity, leading to lower bank revenues.

Canada’s big banks are expected to face pressure to rein in costs later this year, Mihelic said, and they are also grappling with ongoing demands by regulators to set aside more capital as a buffer against challenging macroeconomic conditions.

This article was originally published in the Toronto Star at


St. Albert Real Estate Stats - July 2023

 If you listen to the news or read the local paper, you may think the real estate market is doom and gloom. But that's not even remotely accurate. Here's some facts and data to prove the point. 

Sales are up in July by 4% compared to last year, not a big change but for a year that's seen a consistent negative slide... a positive change is a big deal. 

New listings are down a whopping 21%. That's huge; low inventory drives eventual price increases and we're seeing an inventory crunch. 

Finally the average sale price is down 1%, a nominal figure. Again, for a year that's seen consistent decreases, it's shocking to see prices almost back to par with where they were before the interest rate increases started. 

What we haven't seen yet is price spikes; but I believe they're coming soon. In fact, they're already starting but the stats are still recovering from a very soft start in 2023. By year's end, I expect that house values will be higher than they were a year ago. 


2023 has been a tough year for the Edmonton Real Estate market, but we're seeing signs of life. If you've been reading this blog through 2023 you've heard me say that Edmonton's real estate market follows the same pattern as the Calgary market; but just a few months late. 

Calgary is in a full-on boom, brought on by low inventory and a lot of people from BC and Ontario are eyeing the Alberta markets as good investment opportunities. Based on the delayed reaction in Edmonton vs. Calgary, we should now be seeing a surge in sales, a drop in available inventory, and a rise in property values.

Sales are up 19% compared to July 2022 and inventory is down 5.5% (-17.75% year to date). 

That data supports the argument that the Calgary trend is coming to the Edmonton real estate market. But we haven't seen price increases yet, infect prices are down 6.5% year to date, and are 3.58% lower than they were this time last year. But that does mean that over the past 2-3 months prices have started to rally, just not enough to overcome the drop that happened in early 2023. 

Time to sell remains high, at 70 days on average, but again that's getting tighter as we move through 2023. 

The average home sale in July 2023 in Edmonton was $385,000. 

Curious about the market trends of YOUR neighbourhood? Send us a request here and we'll send you a similar report on your local neighbourhood. 

Posted by John Carle on Tuesday, November 23, 2021 at 10:45 AM  Comment

The information below was provided to us by Mike Homes. Visit his website at


I get asked a lot about when’s the best time to prepare my home for winter. Most feel like their home is a full time job during these months because if you were following my fall maintenance checklist you would know it wasn’t that long ago that we were preparing for fall.

The end of the year can be hard on your home, you first to have to deal with falling leaves, cold drafts but now you need to prepare for Old Man winter and the harm he can do to your home. There are some simple steps you can take to winterize your home.

Change Your Furnace Filters

Proper ventilation is key during the winter months. We’re spending less time outdoors and more time indoors. HVAC systems are working overtime and while it should be common sense to replace your furnace filters people do forget – which is not good! 

Also make sure there is proper air circulation in your home, check your kitchen and bathroom exhaust fans to make sure they’re doing their job and removing moisture from the air. Have you tried the tissue test? Hold up a tissue to your bathroom exhaust fan to see if it’s pulling in the tissue.

Did You Know?

During the winter months you should be changing your furnace filters monthly. Not like the summer months when you can get away with changing them every 3 months. I like to set a reminder on the 1st of every month to replace the filters.

Foggy Windows Means Weeping Windows

If you notice your windows starting to fog and form condensation, there could be a number of reasons. It may be an excess of humidity, faulty windows or poor ventilation. You need to investigate this because weeping windows can lead to mold and can compromise the structure of the window. You can buy a hydrometer to check the humidity levels throughout your home. If the humidity levels are high in different areas of your home, you can buy a portable dehumidifier. Or call an HVAC professional to install a furnace integrated dehumidifier. Your home should have a humidity level between 40 and 60%


5 Signs your windows need replacing

I say this a lot but a simple job that homeowners often neglect is caulking around your windows and doors. If you see caulking that is cracked, it should be replaced. 

Instead of turning up the heat to resolve the issue, inspect the caulking and replace the seal and weatherstripping on doors and windows to stop cold drafts from coming in.

Chimney Inspections

There won’t be any chestnuts roasting over an open fire these holidays if you’re not inspecting your chimney properly. Be on the lookout for creosote or soot (a chemical mass of carbon formed when wood, fossil fuels, or tar is burned).  Creosote is a serious fire hazard and fire in the chimney can spread throughout your home in a matter of minutes.

When inspecting your chimney, see if there’s any damage to the chimney’s flue. A block or crack in the flue can lead to toxic fumes (such as carbon monoxide) entering your home. Even if you have a gas fireplace you should inspect it regularly because you want smoke going out and heat coming in, definitely not the other way around.

Check Your Smoke Alarms & CO Detectors

While on the topic of fire hazards, you should test every smoke alarm. During the holidays we like to use candles more frequently and tend to cook a lot more. This is why you should inspect every smoke detector in your house to make sure it is in proper condition and replacing the batteries if needed. The same goes for carbon monoxide detectors. Remind yourself to do this on the 1st of every month and you’ll be glad that you did. It’s better to be safe than sorry. And never leave any fires unattended, whether it’s in the kitchen, your fireplace, or your candles.

Did You Know?

Winter is a great time to test for radon. Many homes have higher radon levels in the winter because we tend to keep our homes closed up. Radon is the second leading cause of lung cancer. You can purchase a radon test kit yourself.

Plug In Safely

When plugging in your Christmas lights or other decorations these holidays, avoid overloading circuits! Inspect your power bars and extension cords and make sure they’re in good condition. If you see any rips or tears, don’t tape them! Throw them out and buy a new one. If you want to know more about how to protect yourself with electrical fires, I recommend you read my other blog post about electrical fires.

Pay Attention To Icicles

As I mentioned in my Halloween Safety article, ice dams should not be ignored. Ice dams form around the edge of the roof from your home that prevents melting snow from draining off your roof. This back up of melted snow can find its way into the shingles and into the attic. It can also flow into your exterior wall cavities and end up in your basement. If you suspect an ice dam forming, you’ll need to hire a professional to take a look at your eavestroughs and inside your attic because you need proper airflow and insulation in the attic soffit area to prevent ice forming.

Winterize Your Pipes

When there’s cold air, it creates the potential for freezing on your pipes. When water freezes, it expands, putting pressure on pipes that go below insulation or through cold zones. The pressure within these frozen pipes can cause the pipes to break, leading to flooding in your home. What I recommend doing is wrapping your inside pipes in insulation material and ensure that the exterior plumbing lines have been drained. If you do find a frozen pipe, there is the potential for others in the same area to freeze. I always use a non-freeze hose bib that prevents the pipes from bursting. Another reminder I like to set, is if you’re heading out of town this winter, keep your thermostat set to at least 16 degrees Celsius to keep pipes from freezing while you’re away. If you do have frozen pipes, call in a licensed plumber to fix the problem.

Clear Driveways and Walkways

It’s every homeowner’s responsibility to clear your driveway from snow and ice. The last thing you want is an injury on your driveway because of your negligence to pick up the shovel. But shovelling the snow may not be enough. Apply a deicer, and be generous! I’m not a big fan of salt – it destroys your grass and eats away at brick mortar. It can also make your pets sick. I’d rather use a generous amount of gravel as a natural alternative. Whatever you use read and follow the instructions carefully.

If you have any cracks in your walkway, they can become a tripping hazard – especially as the freeze-thaw cycle can cause those cracks to expand and heave. You can make repairs yourself using Sikadur Crack Fix.

Typically, you should see about 6-8 inches of the foundation/concrete above ground on your exterior walls, below the brick exterior. You should clear any snow away from the brick around your home. If not, you risk it flaking and spalling.

Travelling Smart

Lastly, many of us like to go away in the winter to visit family or to a sunny destination. Be smart about being away. Install programmable lights that you can control through your phone so that your lights aren’t turning on at a predictable schedule. Smart locks (like the Sense Smart Deadbolt from Schlage I have and love) are great because you get instantly notified if someone entered your home. You can also remotely let someone in while you are away. This is helpful if you have asked a friend to check in your home while you are away, or drop off the mail. It adds an extra layer of security.