Edmonton Real Estate Market vs. CAlgary

[2.2vtec]

As all of you know the calgary real estate market is booming and its not uncommon for people to bid more then the asking price on a home because for every one home there are at least 3 people wanting it. Do you guys see the edmonton market doing the same in the next few years? How is the edmonton market? I have done some research and it seems edmonton is starting to expand so would this be a good time to jump in?

[elmo909]

The edmonton market is hot, but not as hot as Calgary's. With that said, I don't see the real estate bubble bursting in Alberta any time soon, so I figure it's a good market to get into.

[mac_82]

I am currently looking at purchasing real estate in Edmonton in the next 3-4 months. From what I have seen so far, it looks like Edmonton, as far as prices go, is a couple years behind Calgary, but it is starting to boom, I am not sure if it will be as 'booming' as Calgary is now, but the boom is happening definitely.

[Vypros]

i hate edmonton....if i bought a house there it would probably take me 2 hours to find it.

[elmo909]

if I lived in calgary it would probably be a 2 hour drive to get there.

[2.2vtec]

I guess my question is, Is edmonton just a few years back and it will be just booming as calgary?

[mac_82]

The boom that is going on here is the equivalent to Calgary 1.5-2 years ago. You can still get into an entry level place for decent money.

[Vypros]

Originally posted by mac_82
The boom that is going on here is the equivalent to Calgary 1.5-2 years ago. You can still get into an entry level place for decent money. if you can find it....

[Weapon_R]

Originally posted by mac_82
The boom that is going on here is the equivalent to Calgary 1.5-2 years ago. You can still get into an entry level place for decent money.

The market in Edmonton is no where near like Calgary. You can get a decent home in Edmonton for 200k, but you can't come close here in Calgary.

Large 800sq ft condos in Edmonton are under 70k, the ones in Downtown are cheap, and they sit for months and months on MLS before they sell.

It may get better, but Edmonton's market is no where near Calgary's.

[khtm]

Why the hell would anyone want to live in Edmonton?

[2.2vtec]

I dont want to live in edmonton but investment in edmonton. If someone had entered the real estate market in calgary 2-3 years ago they would be better off then if they started now. I'm trying to find another market to entry to I could be better off.

[mac_82]

Originally posted by Weapon_R
Large 800sq ft condos in Edmonton are under 70k, the ones in Downtown are cheap, and they sit for months and months on MLS before they sell.


It all depends on the area. If you want to live in the ghetto you can buy a condo for under 70k. Its not like all condos here are under 100k, I have looked into it.

For a nicer neighborhood you are looking at 150k + for a decent sized condo (1000sq ft+). Which, compared to Calgary, is pretty cheap.