Latest news with #DarleneReid
Yahoo
13-07-2025
- Business
- Yahoo
Edmonton Downtown office vacancy finally breaks, but it might not last
For the first time in years, the office vacancy rate in Downtown Edmonton has dipped below 20 per cent. 'It sure is nice to see something that doesn't start with a two,' said CBRE Edmonton's managing director, Mark Anderson. With office, industrial, and residential reports released recently from commercial real estate services company CBRE and from the Realtors Association of Edmonton (RAE), respectively, key indicators for Edmonton's real estate market show some promise. As housing starts augment the city's housing stock and office vacancy comes down, the various markets sit in a comfortable position after the second quarter, but the fate of the rest of the year remains unclear as the housing market cools off in the summer and U.S. tariffs fuel uncertainty. Although average housing prices are still up year-over-year in the greater Edmonton area, the price increases over 2024 have come down compared with previous months this year. RAE board chairwoman Darlene Reid said the market is edging toward more stability. 'We're starting to shift more into a balanced market. I would say we're still on the cusp of a seller's market, but at the bottom. Like, we're a few points away from switching over to this balanced market,' said Reid. In June, sales were up 1.2 per cent over last year with residential average prices also climbing nearly six per cent. However, signs of a balanced market come from year-over-year comparisons in housing inventory, with a 15 per cent increase at the end of June over 2024. The rising inventory and the cooling activity will be good news for buyers, said Reid. 'As a buyer, you want a little more choice, and you don't want to have the pressure of having to make offers that are conditionless to compete. Now, people can take a little more time do their due diligence,' she said. Reid said a decline in market activity often happens during summer as people take vacations and have kids at home, leaving them less time to sell or look for property. The increase in inventory can be attributed to an ongoing home building frenzy in the city. Housing starts are up more than 22 per cent from last year. With 88,000 square feet of positive absorption, Edmonton's Downtown office vacancy has dipped to 19.3 per cent. The positive change was aided by a recent Canadian Mental Health Association Centre lease on 102 Avenue that helped eat up a significant amount of vacant inventory. 'We've been bouncing around at about 20 to 21 per cent vacant for a little while. So it's nice to see that we finally crest a little bit below that,' said Anderson. While one big lease helped with the quarter's absorption, Anderson also highlighted office conversions as contributing to the decrease in vacancy, which he expects to continue going forward. With many of the city's top office towers like Edmonton Tower, Stantec, and Enbridge filling up, Anderson noted that a few 'C' class buildings with high vacancy continue to be a drag on the market as a whole. 'There's a lot of buildings that are kind of in that bucket, which we would kind of deem to be functionally obsolete,' said Anderson. 'It's unfortunate that they skew our statistics as much as they do, because the reality is, if you are a company that's looking for space, you're generally not going to be even considering these as options.' As the flight to quality office space persists, Anderson said those older spaces over time will likely be sold or redeveloped. Despite the strong quarter, Anderson warned that the core is still expecting to finish the year on a negative absorption note that will likely push vacancy back into the 20 per cent range. 'This will not be a surprise,' he said. Anderson said CBRE has been tracking 'shadow vacancies' Downtown, which are spaces that are still under a lease but are actually vacant. He said as these businesses sign new leases toward the end of the year, many will be downsizing their office capacity to unload the unused space. 'Everything else is quite strong. It's just that there's a couple of these really big tenants that are going to rationalize some of the underutilized office space they've been sitting on for the last 10 years. And unfortunately for us, that means that the vacancy rate might pop up back up into the 20s (per cent).' According to Anderson, the second quarter of 2025 was the first time the Edmonton area had negative absorption in the industrial market for some time, but he said it's nothing to be concerned about. In all, net absorption for industrial space in the quarter was down nearly 282,000 square feet. 'It doesn't take a lot to see why that's that's the case. There's a lot of tariff uncertainty still when it comes to the way that Canada interacts with our biggest trade partner just south of the border,' said Anderson. 'Those are the folks that are producing the widgets that go across the border, and so they're the ones most impacted by that.' As a 'decidedly' industrial town, Anderson said uncertainty around the tariffs has an outsized effect on the city's industrial market. Still, with a vacancy rate below three per cent and an availability rate of 5.2 per cent, he said the city is maintaining an active market and is not far from balanced. Given the size of industrial lots, just a few vacant spaces — like those currently empty near Nisku and Leduc — can skew the numbers, he added. 'It's just these larger-bay industrial properties that are having a more challenging time finding tenants to occupy their space. Small and mid-sized industrial companies — they're in a very tight market right now.' The canary in the coal mine for the market, said Anderson, is the smaller-bay industrial centres, and those remain strong. One such example was the Tuesday announcement from Van Houte Coffee Services, which recently opened a brand new 26,000-square-foot office and distribution space in Edmonton that will help the company serve western Canada. zdelaney@ 'Great time to be a landlord': many renters have no plans to buy homes Edmonton City Centre Mall ordered into receivership Bookmark our website and support our journalism: Don't miss the news you need to know — add and to your bookmarks and sign up for our newsletters here. You can also support our journalism by becoming a digital subscriber. Subscribers gain unlimited access to The Edmonton Journal, Edmonton Sun, National Post and 13 other Canadian news sites. Support us by subscribing today: The Edmonton Journal | The Edmonton Sun.
CTV News
29-06-2025
- Business
- CTV News
Top 5 most expensive homes for sale in Sherwood Park in June 2025
Home is the nicest word there is according to author Laura Ingalls Wilder, but these homes on the prairie aren't what you would call little. In May, CTV News Edmonton looked at the most expensive homes for sale in Sturgeon County. All five of those listings are still up, but now it's time to advance clockwise around Edmonton to Sherwood Park. In May, there were 4,917 new residential listings in the Greater Edmonton Area, according to the Realtors Association of Edmonton, a 27.8 per cent increase from April and 16.1 per cent increase from May 2024. For Sherwood Park, there were 207 new residential listings, down 3.72 per cent from May 2024, and 91 detached homes sold, down 14.95 per cent compared to May 2024. The average residential home price in Sherwood Park was $508,000. The average price in the Greater Edmonton Area was $464,277. 'For the second month in a row, our inventory levels have been buoyed by a flood of new listings, giving buyers more choice and sellers more competition,' association board chair Darlene Reid said in the monthly statistics report. 'As a result, we saw a nominal decrease in average price over most property categories, which could signal a change in the direction of our housing market as the year progresses.' Fun fact, Sherwood Park is technically a hamlet, as it falls under the Strathcona County government, despite having a population of more than 70,000. With the data out of the way, it's time to see what kind of bang for your buck is available in Sherwood Park according to 5 - $929,900 bungalow in Summerwood Real estate A home for sale in Sherwood Park. ( Starting in the northeast is this 1,302-square-foot bungalow in the Summerwood neighbourhood. The house has a modern look with a black-and-white colour scheme throughout, including the large kitchen with several of the appliances built into the island. Real estate A home for sale in Sherwood Park. ( The basement, with a wet bar, two bedrooms and a rec room, walks out to the backyard, which isn't overly large, but is landscaped with plenty of plants and flowers. The back deck and patio also look out over a stormwater pond. Real estate A home for sale in Sherwood Park. ( The home, built in 2006, is located at 62 Summercourt Rd. and the listing has been up for 9 days. 4 - $944,990 2-storey home in Salisbury Village Real Estate A home for sale in Sherwood Park. ( Moving to the south side of the hamlet is this 2,539-square-foot home in Salisbury Village. On the main floor is a large, modern chef's kitchen with a walk-in pantry and a living room with a fireplace. Real Estate A home for sale in Sherwood Park. ( The basement is newly finished and features its own kitchen, bathroom and bedroom, with the other three bedrooms on the main and second floors. The large backyard has a deck and patio area, complete with firepit. Real Estate A home for sale in Sherwood Park. ( The home, built in 2017, is located at 126 Barbury Cl. and the listing has been up for 85 days. 3 - $945,707 bungalow in The Ridge Real estate A home for sale in Sherwood Park. ( Moving to the east is this 2,017-square-foot bungalow in The Ridge neighbourhood. The large backyard has a gazebo, firepit area and plenty of garden space. Real estate A home for sale in Sherwood Park. ( Inside is a mix of styles from the tiled living area and large kitchen, to the brick wall on the basement stairs. The basement also hosts two of the four bedrooms in the house, as well as a rec room and a four piece bathroom with a sauna. Real estate A home for sale in Sherwood Park. ( The home, built in 1993, is located at 485 Regency Dr. and the listing has been up for 53 days. 2 - $997,000 bungalow in Lakeland Ridge Real estate A home for sale in Sherwood Park. ( Next on the list is this 1,850-square-foot bungalow in Lakeland Ridge. The home features six bedrooms and a modern kitchen in the open-concept ground level. Real estate A home for sale in Sherwood Park. ( The walkout basement has heated floors and a wet bar. Outside, the two-level deck area overlooks a large yard and a pond. Real estate A home for sale in Sherwood Park. ( The home, built in 2011, is located at 125 Campbell Dr. and the listing has been up for 16 days. 1 - $1.9M 2-storey home in Estates of Sherwood Park Real estate A home for sale in Sherwood Park. ( The final home on the list is the largest in square footage, at 4,008, and lot size, at 0.48 acres. The backyard is spacious with a covered deck and a firepit, as well as a number of trees around the edge of the property. Real estate A home for sale in Sherwood Park. ( Inside, the oversized, heated triple car garage accounts for nearly 1,153 square feet in the home. The home has three fireplaces, one being in the finished basement along with a rec room, wet bar and hobby room. Real estate A home for sale in Sherwood Park. ( The home also has six bedrooms, a large kitchen with built-in appliances and a formal dining room. Built in 2001, the home is located at 285 Estate Dr. and the listing has been up for 110 days.
CTV News
31-05-2025
- Business
- CTV News
Top 5 most expensive homes for sale in Sturgeon County in May 2025
'There is nothing like staying at home for real comfort,' though it's doubtful Jane Austen was referring to basement saunas, home theatres and backyard putting greens when she said it (though the wine cellars might have met with her approval). In April, CTV News Edmonton looked at some of the most expensive homes for sale in St. Albert. Four of those listings are still up and one appears to have been relisted, but it's time for a short jaunt outside city limits to Sturgeon County. In April, there were 4,012 new residential units for sale in the Greater Edmonton Area, according to the Realtors Association of Edmonton. That number is up 908 per cent from March and a 4.8 per cent increase from April 2024. There were 2,710 residential unit sales in April, with 1,576 of those being detached homes. That marked an increase of 10.2 per cent from March and a 14.7 per cent decrease from April 2024. The average price for a detached home in April was $585,707 (1.8 per cent higher than in March), which, as usual, is far below the price point of the homes on display this month. 'We've seen inventory levels decline in the negative double digits for the better part of the last 12 months, and the dwindling supply has put pressure on home prices,' association board chair Darlene Reid said in the monthly statistics report. 'That pressure won't alleviate unless this upward trend for inventory continues well past the busy season. We can still expect prices to continue to increase in the short term through the warmer months.' Detached homes averaged 29 days on the market in April, one day less than in March. Now, it's time to look at the most expensive homes for sale in Sturgeon County on in May 2025: 5 - $2.9M bungalow in Riverstone Pointe Expensive real estate A home for sale in rural Sturgeon County. ( Starting northeast of St. Albert is this 3,122-square-foot bungalow. The home sits on a 0.96 acre lot with mature plants, a water feature and a putting green. Expensive real estate A home for sale in rural Sturgeon County. ( The inside features six bedrooms, a home theatre, gym, wet bar, games room and a gourmet kitchen. The heated garage is also nearly the size of the main floor, being 2,800 square feet, and includes an RV bay. Expensive real estate A home for sale in rural Sturgeon County. ( Built in 2007, the house has had renovations and upgrades, including a new furnace, boiler and windows. The home is located at 111 25015 Twp. Rd. 544A and the listing has been up for 56 days. 4 - $3M bungalow in Riverstone Pointe expensive real estate A home for sale in rural Sturgeon County. ( A stone's throw away, relatively speaking considering the size of the lots, from the previous entry is this 5,493-square-foot bungalow. The property is a little bigger at 1.06 acres, though it trades the putting green for a backyard basketball/sports court while keeping other features like the fire pit. expensive real estate A home for sale in rural Sturgeon County. ( If being inside is more to your liking, the gourmet kitchen, games room and home theatre may be of interest. The basement also sports a study/library-like living room area. expensive real estate A home for sale in rural Sturgeon County. ( The home is located at 37 Riverridge Rd. and the listing has been up for 211 days. 3 - $3.3M mansion in River's Gate expensive real estate A home for sale in rural Sturgeon County. ( According to Forbes, a mansion (in the U.S. at least) is a home with at least 8,000 square feet, so this 8,980-square-foot home in River's Gate should qualify. Food will be on the mind in this home with an 'opulent' chefs kitchen, a second butlers kitchen, private dining room and a wine cellar. expensive real estate A home for sale in rural Sturgeon County. ( The six-bedroom home also comes with the standard (at least as this list is concerned) home theatre and a games room. The lot is smaller than the last two homes, at 0.53 acres, and doesn't come with any sports courts, though it does back onto the Sturgeon River and sits next to the Sturgeon Valley Golf and Country Club. expensive real estate A home for sale in rural Sturgeon County. ( The home, built in 2015, is located at 205 25122 Sturgeon Rd. and the listing has been up for three days days. 2 - $3.4M bungalow in Riverstone Pointe expensive real estate A home for sale in rural Sturgeon County. ( Back in the bungalows of Riverstone Point is this 3,624-square-foot home. Inside there are four bedrooms, games, theatre and fitness rooms, plus a wine cellar. expensive real estate A home for sale in rural Sturgeon County. ( The home also boasts a library with floor-to-ceiling bookshelves and a sliding ladder. The property is 0.72 acres, with plenty of garden space in the back. expensive real estate A home for sale in rural Sturgeon County. ( Back in the front, the home boasts a drive-through portico with iron stone, copper chimneys, capolas and an iron security gate. The home, built in 2009, is located at 53 Riverridge Rd. and the listing has been up for 75 days. 1 - $3.7M bungalow in Sturgeon Crest expensive real estate A home for sale in rural Sturgeon County. ( Last, but never least (price-wise), is this 2,986-square-foot bungalow. The listing describes it as being reminiscent of the stone farmhouses of Burgundy, with wooden beams accenting the roof throughout the main floor. expensive real estate A home for sale in rural Sturgeon County. ( In addition to the standard games and workout rooms, the basement of this home boasts a sauna. Upstairs houses a gourmet kitchen and just outside it a carriage house with a separate living space. expensive real estate A home for sale in rural Sturgeon County. ( The home also has the largest plot of land on the list, with 2.03 acres. Built in 2017, it's located at 21B 25012 Sturgeon Rd. and the listing has been up for 241 days.
CTV News
30-04-2025
- Business
- CTV News
Top 5 most expensive homes for sale in St. Albert in April 2025
A home for sale in the Jensen Lakes neighbourhood in St. Albert. ( To quote Dorothy from The Wizard of Oz, 'There's no place like home,' and if she lived in a home like these ones, she may have rushed back to Kansas sooner. In March, CTV News Edmonton looked at some of the more affordable homes for sale in the city. Only two of the listings from that article are still up, but now we're back to the other side of the scale and headed just over the Anthony Henday Drive to the city of St. Albert. In March, there were 3,780 new residential listings in the Greater Edmonton Area, which includes surrounding areas like St. Albert, and 2,494 residential unit sales, according to the Realtors Association of Edmonton. Those numbers are up 44.5 per cent and 36.9 per cent, respectively. Looking at detached homes, there were 1,434 units sold, which is down 1.8 per cent from March 2024. The average price for detached homes went up 1.2 per cent in March to land at $574,872, which is 11.2 per cent higher than the same month in 2024. 'The marked increase in sales and new listings means the busy season has arrived, and with prices on the rise, it's a great time to be on the seller's side,' association board chair Darlene Reid said in the statistics report. 'For buyers, the higher level of inventory available means a better chance of finding your dream home, but with overall inventory still lower than last year, multiple-offer situations are also becoming increasingly common.' Detached homes were on the market for an average of 30 days in March, a nine-day decrease from February. With that data in mind, here are the most expensive homes for sale in St. Albert on in April: 5 - $1.12 Jensen Lakes home Home for sale A home for sale in the Jensen Lakes neighbourhood in St. Albert. ( Starting near the newer waterfront neighbourhood of Jensen Lakes is this 2,648-square-foot home. The home has a gourmet kitchen, four bedrooms and three bathrooms. Home for sale A home for sale in the Jensen Lakes neighbourhood in St. Albert. ( Built in 2023, the home is just a stone's throw away from one of the neighbourhood's titular lakes. The two-storey home has a three-car garage and a large backyard with a covered deck Home for sale A home for sale in the Jensen Lakes neighbourhood in St. Albert. ( The home is located at 1 Jane Pt. and the listing has been up for 5 days. 4 - $1.25M Lacombe Park home Home for sale A home for sale in the Lacombe Park neighbourhood in St. Albert. ( Starting over on the west side of the city is this 2,995-square-foot, two-storey home in Lacombe Park. Built in 2012, the home boasts five bedrooms, five bathrooms, a 'chef's dream kitchen' and a heated triple garage. Home for sale A home for sale in the Lacombe Park neighbourhood in St. Albert. ( The home also has heated tile floors and a fully-finished basement with a rec room, roughed-in wet bar and a gym or hobby room. The lot itself is 11,000 square feet, with a large backyard taking up a decent amount of that space. Home for sale A home for sale in the Lacombe Park neighbourhood in St. Albert. ( The home is located at 3 Larissa Ct. and the listing has been up for 20 days. 3 - $1.29M Kingswood home Home for sale A home for sale in the Kingswood neighbourhood in St. Albert. ( Moving to the other side of the city is this 3,656-square-foot home in the Kingswood neighbourhood. The two-storey home features a third level loft and has three bedrooms and four bathrooms, though the listing suggests the family room and loft could make for additional bedrooms. Home for sale A home for sale in the Kingswood neighbourhood in St. Albert. ( The three-car garage is listed as hoist height, having room for a car lift, and the lot has a deck, patio, fountain and mature trees. Down in the finished basement there is a large rec room and up top the home has a lifetime cement tile roof. Home for sale A home for sale in the Kingswood neighbourhood in St. Albert. ( The home was built in 2003 and is located at 10 Karlyle Ct. and the listing has been up for 14 days. 2 - $1.49M Erin Ridge bungalow Home for sale A home for sale in the Erin Ridge neighbourhood in St. Albert. ( Up in Erin Ridge is this newer 2,613-square-foot bungalow built in 2024. The home has two European-style kitchens with built-in appliances, as well as a breakfast nook and wet bar. Home for sale A home for sale in the Erin Ridge neighbourhood in St. Albert. ( The fully-finished basement also has a bar, rec room, a gym with equipment and a home theatre. The home has five bedrooms and bathrooms, has heated floors and a heated three-car garage. The large backyard has a deck and a fire pit. Home for sale A home for sale in the Erin Ridge neighbourhood in St. Albert. ( The home is located at 20 Easton Cl. and the listing has been up for 15 days. 1 - $1.59M Jensen Lakes home Home for sale A home for sale in the Jensen Lakes neighbourhood in St. Albert. ( Last, but not least as far as price is concerned, is this 3,346-square-foot, two-storey home. The home, and the two rooftop decks, look over the lake from the front and both have built-in BBQs. Home for sale A home for sale in the Jensen Lakes neighbourhood in St. Albert. ( Inside is an 'Okanagan-style' floor plan, with the main living spaces on the second floor, with two-storey ceilings, a 'chef's dream' kitchen, butler's pantry and wine cellar. The main floor has three bedrooms, with one as a walkout to the backyard. Home for sale A home for sale in the Jensen Lakes neighbourhood in St. Albert. ( The home is located at 11 Jubilation Dr. and the listing has been up for 201 days.
