Realty Glimpse

2018 April Newsletter

*Unless stated otherwise, the graphs below are inclusive of pre-owned houses sold in the City of Grande Prairie only. Read the “note to the reader” at the end of this article to understand why this is the focus point of this article.

The Market

Following the 2016 slump in Grande Prairie residential sales (712 pre-owned house sales), came a year of more sales (890 pre-owned house sales). The increased 2017 demand however was met with more listings, especially in May, June & July (See graph B) – causing the demand to not increase house pricing. Toward the end of 2017 however, the volume of listings started to decline. In December of 2017, the volume of monthly listings fell below the volume of the same month of the previous year. Less listings has carried on through to this year. (See Graph B). With sustained and even greater demand as well as less inventory, finding that perfect house has became more difficult. Ultimately, the depleting inventory has pressured the market and the average sales price has increased every month since November, 2017. Continue reading

2018 March Newsletter

Market Update – March

WHAT SELLS MOST?

There is a greater volume of houses sold in Grande Prairie than any other residential property type (see chart showing sales comparison for 2017 & 2018 – house sales dominate our market over any other residential type). New houses have been excluded from most of the stats included in this newsletter because there is an obvious distinction between new and pre-owned just as there is between houses and any other property type (e.g., Townhouses, Condos, and Vacant Lots, etc.). Reports can be populated just as easily that include ALL residential property types in both the City and County of Grande Prairie or with just any other specific segment, however, narrowing in on just pre-owned houses in Grande Prairie allows this newsletter to target the widest audience with the most fine-tuned information. Equally important, if I had chosen any other segment, a general feel would not be as reliable because the data set would be smaller and more susceptible to anomalies, if I would have included more property types, an increase of sales volumes for lesser expensive property types would have made the stats less reliable. Continue reading

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Residential Assessment

Caitlin Tasker & Jenna Dawe, Residential Assessors

November 16, 2017

Mark – Caitlyn, can you tell me, what do you both do for the City?

Caitlin – We’re Residential Assessors, we assess properties.

Mark – So there are Residential Assessors… that’s what you do; there are Realtors, they will give you a market evaluation on your home; and there are appraisers, who will actually do an appraisal on your home.  It is interesting, because all three are similar, but different.

 

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Rory Tarant
Former City Counsellor
City of Grande Prairie

 

 

Mark – We’re talking about taxes – what are property taxes used for?

Rory – The property taxes are used for for all the cities operations, everything from our police, to our fighter service, to our parks, recreation, you name it, all the municipal services that you see, a lot of it goes into our capital projects, the road projects, the facilities that are built, and that’s the municipal portion of our property taxes.  You will notice when you get your property tax bill that there is an education component, and that’s charged by the province, and the city collects it on their behalf and remits it to them and that goes toward paying for the education system within the province, and then you also see a small bit that’s for the Grande Spirit Foundation, and it goes towards paying for some of the senior homes and social housing in the areas. Continue reading

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Danny Rolling
Distribution/Collection Lead Hand
Aquatera

Mark – Danny, how long have you been doing this?

Danny – I’ve been at Aquatera now for about 8 years.

Mark – this is an extra inspection, above and beyond the regular property inspection what is this inspection called?

Danny – This inspection is generally is a CCTV inspection, a lot of people don’t think to get this done before they purchase a home, or whatever they’re doing, whether is property or whatever, generally this gives you a little bit of insight into the service itself and any problems that could be existing in or something that could occur in the near future.

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