Second Quarter Market Report for 2021 - Edmonton House Prices

This quarter was the best quater for anyone who already owned a property in Edmonton with the highest home owner value price increase since 2008. Statistics Canada’s New Housing Price Index (NHPI) for Edmonton also increased by 5.2% in May compared with a year earlier. The biggest price increase in our real estate market was in Sherwood Park and St. Albert.


If you are thinking about selling and moving up, now would be a very good time to consider the move, especially with the low interest rates and the increase of other municipalites across Canda.


In thes econd quarter of 2021, there were a total of 5624 properties sold in Edmonton including 1517 houses & duplexes and 4107 condominums.


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Welcome to our Griesbach Edmonton Townhouses

Griesbach is unlike any other north Edmonton community and townhouses here have a style all their own. Griesbach townhouses and row home complexes include the Griesbach Woods, Victory Lane, Juno Townhomes, Neptune Townhomes, Terraces, and Brigades of Griesbach. There is also another Griesbach townhouse complex on Sir Arthur Currie Way that does not currently have a name.


To learn more about the history and development of Griesbach Edmonton - click here or view all of our Griesbach homes for sale. For a professional in-home market evaluation on your Griebach Edmonton home, contact us or call direct and ask for Audrey Abuan, Edmonton's military relocation specials at 780-910-5179.

The Brigades Of Griesbach


The Brigades Of Griesbach on Veterans Way was once a prestigious adult 45+ complex. The Brigades Of Griesbach was built by Coventry Homes and featuring silent neighbor wall systems. These north Edmonton's most popular Griesbach home styles are the Bryce Model duplex bungalows and the Columbia Model 2 Storey Split level.


Every Brigade Of Griesbach home is unique in its own way from formal front living rooms, gleaming, hardwood flooring, inviting front porches, finished and unfinished basements, attached and detached garages plus different square footage in each of these Griesbach homes.

Juno Townhomes

Located in the Canadian award-winning community of Griesbach, Juno Townhomes are nestled amongst beautiful tree-lined streets at 2560 Pegasus Boulevard. Many of these Griesbach Edmonton homes overlook the park giving you a beautiful, relaxing view. Juno Townhomes have a noteworthy fiber cement exterior facade and are a mix of two and three-story townhouses. Some of the units have exterior parking stalls while others have garages.

Griesbach Woods

Griesbach Woods homes are located on Gault Boulevard, 98 NW and Kapyong Avenue, Colonel Stone Avenue, and Kerr Road in the Griesbach north Edmonton community. They are close to the lake, walking trails, and boutique shops. Pets are allowed in this Griesbach condo complex with the board's approval.


Griesbach Woods homes are unique inside and out. The exterior of these condos ranges from light neutral Vinyl siding with bright red exterior doors to brick frontages with dark green finishings. Homes at Griesbach Woods are gorgeous and immaculate executive 3 story townhouses with high energy efficiency windows and double detached garages built by award-winning builders.


Several Griesbach Woods homes are Georgian inspired full brick townhomes boasting active dormer windows, spacious interiors & private backyards with full fencing & concrete patios, enhanced with 9ft main floor knock down ceilings, hardwood, ceramic tile, granite kitchen countertops, under-cabinet lighting, tile backsplash, and vaulted ceiling in loft primary bedrooms.

Terraces of Griesbach


Terraces of Griesbach homes are located at 4321 & 4367 Veterans Way, McCrae Avenue, and Valour Way in Griesbach Edmonton and are almost 2000 square feet above grade. Terraces of Griesbach homes were constructed using a silent neighbor wall system which assures a superb sound barrier between units that were strategically built between 2006 and 2012 and offer 9 feet ceilings tankless hot water tanks.


These executive-style townhouses with double detached garages feature huge primary bedrooms, gourmet kitchens accented wonderfully with walnut-colored cabinetry, and a downtown view near local restaurants & coffee shops, and shopping. These north Edmonton homes are also steps away from the Griesbach community garden!

Neptune Townhomes

Neptune Townhomes are situated at 1636 Kerr Road and 1079 Gault BV. These great recently built Griesbach homes are also 3 story townhouses offering a turn-key lifestyle with low condo fees & maintenance-free living. The exterior of the Neptune Townhouse allows space for entertaining, grilling and also comes with your own single detached garage!

Victory Lane

Victory Lane condominiums are a mix of duplexes and townhouses with a traditional concept. They are located on Pegasus Boulevard in Griesbach Edmonton. The former Victory Lane show suite is handicapped accessible and has lots of upgrades including central air, granite countertops, a large kitchen with cabinets to ceiling, lovely tile backsplash, stainless steel appliances, a nice open plan, and a chair lift to get to the second floor. The backyard features a deck and wheelchair ramp from the house to the garage.


Learn more about the Griesbach community or view all Griesbach Edmonton homes for sale!



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What Happens if Your Home Closing is Delayed?

The majority of closings happen on time or within a few days if issues need to be addressed. If closing is not completed, and buyers can be left homeless. This is a terrifying thought, however, it does happen. Below are five reasons which can lead to a delayed or canceled possession date.


REASON ONE: UNREALISTIC CLOSING DATE

Don't expect to write an offer and be in your home the next day. It takes time for lawyers in Alberta to clear and transfer the title to you. The actual registration process can take a day or two or a few weeks depending on how busy the Land Title Office is and the transfer of land process takes about 3-7 days. An experienced real estate agent will know whether the contract dates are realistic or not.

REASON TWO: REAL ESTATE APPRAISAL ISSUES

When buying or selling real estate you need to understand that a large piece to a successful home sale is the bank appraisal. A bank appraisal is part of a real estate transaction anytime a buyer is obtaining a mortgage. It is normally completed prior to a buyer removing the finance condition. If the property does not appraise out, the bank will not forward the mortgage.

REASON THREE: TITLE PROBLEMS

Your Realtor should be doing their due diligence by pulling the title prior to you writing the offer. However, between the time you have satisfied and removed conditions, it has been known to have items placed on the title. These items can include a second or third mortgage, a lien from a collection agency, or a lis pendens. (A Lis pendens is the Latin term for a Notice of Pendency of Action. It means that a lawsuit is pending against the title of a property. The lis pendens is a public notice letting buyers know there is a dispute over the ownership of the property and is commonly used in divorce situations).

REASON THREE: REAL PROPERTY REPORTS

Another task that a real estate attorney will perform is a review of an instrument survey or real property report (RPR). An RPR can be defined simply as a drawing of the land a home is situated on. Real estate closings can be delayed in the event there is a discrepancy in line encroachments such as a neighbor's fence or there is an addition added to the property such as a deck or storage shed without compliance.


REASON FOUR: YOUR BANK DID A SECOND CHECK

When a buyer receives their mortgage commitment, it means the funds have been approved and the closing can occur, right? In most cases it does mean the funds have been approved, however, there are times when a lender will require additional documents at the last minute or a buyer has made a large purchase and their debt ratio qualifying has changed.

REASON FIVE: TERMS OF SALE

There are many reasons why home buyers have home inspections to ensure the property they are purchasing doesn’t have any major deficiencies that can cost a large amount of money in the future. After a home inspection is completed, the buyer can request repairs be completed at the seller's cost. If a seller agrees to make repairs, it’s important that these repairs are done prior to the buyer moving into the new home. These terms can range from the replacement of shingles to picking up dog feces.


THERE ARE STEPS YOU CAN TAKE TO MINIMIZE THIS RISK BEFORE REMOVING YOUR CONDITIONS

In the province of Alberta, the real estate contracts which Realtors use have several safeguard clauses for both the buyer and the seller. In lament terms  - If a delay is caused due to the fault of a seller, the seller is responsible for compensating the buyer. This can include all costs accrued until the property has been transferred. Some of these costs can include, interest rates, storage, hotel rooms, and meals. The real estate contracts also work in favor of the seller and if for any reason, the buyer has delayed the closing, the buyer will be liable for compensating the seller.


  • Ask for a copy of the real property report. The seller should have this in their possession within 10 days of putting the property on the market.
  • Have your financial institution send you documentation that all financing requirements have been met
  • Don't make any big purchases
  • Ensure you have the dower signed if needed. This is a standard document Edmonton RE/MAX Agents use often.
  • Complete a walk through prior to possession when required
  • Ensure all paperwork including addendums are at your lawyer's office (With Remax Elite, we have a complete conveyancing department to ensure, there are no delays and help make the real estate sale process seem seamless.

  • If you have questions about buying a home in Edmonton or the surrounding area, we are here to help. Contact us today!
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