Greetings to all and a warm Welcome to New Subscribers. No downturn in sight Pessimistic market watchers are peering into the future for any sign of market slowdown in Edmonton. According to the Realtors Association of Edmonton the market remains buoyant with a billion dollars worth of residential sales in May. The total year-to-date value of property sales through the Edmonton Multiple Listing Service ® at the end of May has already surpassed the 2005 year end total. Year-to-date residential unit sales are up. Average prices for all types of housing are up. Average days-on-market is still low. "Home sellers are upbeat about the steadily increasing prices and short selling cycles," said Carolyn Pratt, president of the Realtors Association. "Home buyers, on the other hand, are pleased that the inventory has increased and their range of housing choices has improved." There were 4,485 residential properties available on the MLS at the end of May as compared to 3,151 last month - a 42 per cent increase. The average price of a single family home rose three per cent (to $426,028) in May but sales dropped 2.3 per cent from the same month last year as buyers choose condos over family homes. Condominium prices rose 1.9 per cent to $266,100 on average with 993 sales in May. Duplex and rowhouse sales were 111 units for an average price of $347,257 (up 1.8 per cent). Single family sales represent 59 per cent of residential sales with condos making up to 36 per cent. In 2005 SFDs had 70 per cent of the sales and condos were just 26.8 per cent. Duplex/rowhouse sales are now four per cent up from 2.9 per cent in May 2005. "Rising prices are forcing buyers to explore their housing options. People are being prices into the condo market," said Pratt. "May figures demonstrate that the trend has not yet abated." She urged both buyers and sellers to consult a realtor before venturing into the market. "With the average price of a single family dwelling rising by over $400 a day, you need the latest market figures that only a realtor can provide." There were 4,850 residential properties listed on the MLS in May with 2,839 sales. The sales-to-listing ratio was 59 per cent. Average days on market remained the same as last month at 22 days. Edmonton House Market May 2007 May 2006 Residential listings 4,850 2,416 Residential sales 2,839 2,565 Residential building permits issued 855 908 Value of residential building permits $121,636,900 $119,242,400 AVERAGE PRICES Single family dwellings $426,028 $282,208 Condominium $266,100 $172,553 Duplex/Rowhouse $347,257 $225,624 Total value of residential sales $1,169,168,923 $758,342,509 Year to date $4,291,802,575 $2,475,081,849 AVERAGE PRICES BY CITY SECTOR Northwest $378,159 $235,506 North Central $417,101 $270,282 Northeast $352,010 $325,287 Central $293,415 $178,886 West $537,694 $318,004 Southwest $591,165 $388,605 Southeast $419,637 $281,154

(July 25, 2007) Today’s Canadian Mortgage Team Alberta Interest Rates on First Mortgages are as follows: Rates are subject to change without notice. Description Canadian Mortgage Rate 6 Month Closed 6.55% 1 Year Closed 5.60% 2 Year Closed 5.65% 3 Year Closed 5.70% 4 Year Closed 5.95% 5 Year Closed 5.84% 7 Year Closed 6.05% 10 Year Closed 6.15% 15 Year Closed 6.25% 25 Year Closed 6.43% Prime 6.25% I trust this information will come in handy and help you to stay informed. I will continue to update you on the Market and where things are going. One Small Saving on your Interest Rate will be worth Thousands! in the Long Term. Feel Free to call anytime… Regards, Dan Heon Canadian Mortgage Team Alberta. Phone:  Calgary 403-257-1801 Phone:  Edmonton 780-701-7100 Fax:   403-206-7622 Toll Free:    1-888-281-0111 Email: dan@danheon.com The best way to thank your Mortgage Broker is tell others about your Savings and Service. Home Newsletters