Reported by Teresa Mardon, REALTOR, C.E.T., TOP 5% Edmonton Real Estate Board Yearly since 2001, Royal Lepage Director's Platinum Award!
Updated January 8, 2012.
Current Market Rating: 2
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2
3
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5
Buyer's
Seller's
Current Price Trend: 3
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3
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5
Falling
Rising
All statistics reported here are courtesy of the Edmonton Real Estate Board, (see my website at www.TeresaMardon.com).
As we embark upon another New Year, our news analysts reflect on the year just past, searching for meaning, trends and significance in our usually chaotic world. And it certainly has been an eventful year. Europe seems unable to solve its debt problems, the Middle East appears on the cusp of a brave new world as the "Arab Spring" unfolds, and our American friends continue to inch toward economic recovery while gearing up for elections next November. It all makes our Edmonton real estate market look like a sea of tranquility and consistency in comparison. We continue a trend established in late 2007, bobbing along unable to decide conclusively between a Balanced Market, (spring and summer months), and a Buyers Market, (fall and winter months), and with average prices confined to a narrow band around $325K. As I've said before, a trend line applied to our average prices over this time period would be completely flat. Sales volume fluctuations are totally seasonal. We have made little progress in dealing with our large inventory overhang. In a more ordinary environment the market would force a solution, most likely through price reductions. Historically low interest rates have been around so long the market has been artificially skewed and we have almost come to believe the current state of affairs is normal. It's not, and once rates start to rise, as they eventually surely will, we should expect real estate prices to adjust in response. Bank of Canada has made a few false starts in this direction, but has always been held back by the US Federal Reserve's refusal to lead the way. Fortunately for Canadian borrowers this isn't a step we can take independently from the US as it would send our currency soaring and cripple our export market - an extremely unpalatable outcome politically. The gathering strength of Alberta's economy as demonstrated by our rate of job creation, (Edmonton is second among Canada's metro areas, and fifth in unemployment rate), insulates us somewhat from economic reality, but we continue to languish at 14 out of 27 in MLS unit sales and 20 out of 27 in MLS prices. We are thirteenth in housing starts and fifteenth in building permits, putting us squarely in the middle of the national pack. We find ourselves slipping a bit deeper into a Buyers' Market in December. Average days on market is 65, (over 60 signifies a Buyers' Market). This is a good time and a good time of year to be a Buyer - if you're a Seller, proper pricing is critical. Not being priced on market is a recipe for frustration.
Location Characteristics: Morinville is a town in central Alberta, Canada. It is located 34 km (21 mi) north of Edmonton on Highway 2.
Morinville was settled by Father Morin, an Oblate missionary, who brought many French settlers in the late 1800s, followed by several German pioneers—hence its many French and German families such as Hittinger, Riopel, Boissonnault, Tailleur, Houle, Labonte, St. Laurent, Maisonneuve, Bokenfohr, Krauskopf, Rustemier, and Meyers.
The monument located in the St. Jean Baptiste Park lists the many names of pioneers and settlers to Morinville. Once situated on the street at 100 Avenue and 100 Street, the monument was moved to its present location in 2000, as it was a safety hazard and very difficult to enjoy with all the traffic at the intersection.
The Roman Catholic church of the St. Jean Baptiste Parish was built in 1907. The church, along with its adjacent but now inoperative convent Morinville Convent, was declared a historical site in 1975. In 2005, the grounds of the church were landscaped with a clock tower, new grass, trees and shrubs, in celebration of Alberta's 100th anniversary as a province.
In 2006, Morinville had a population of 6,775 living in 2,401 dwellings, a 3.6% increase from 2001. The town has a land area of 11.34 km2 (4.4 sq mi) and a population density of 597.4 inhabitants per square kilometer.
Seven percent of Morinville residents still speak French, most of whom are elderly. All public business is conducted in English. And French is declining, as witnessed by the formerly French mass at the Catholic Church on Sundays turning bilingual.
About Teresa Mardon:
Teresa Mardon, is a licensed agent in the province of Alberta. She has received numerous awards, in her real estate career. She has continuously been in the TOP 5% for the Edmonton Real Estate board since 2001, she continues to stay on track for this honour. She has also received the Royal Lepage Directors Platinum Award and Royal Lepage Award of Excellence
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
