Source: https://blog.remax.ca/2019-remax-housing-market-outlook/#1481171191537-f67101ac-d5e8

Slowing economic conditions in Alberta have contributed to a decrease in average residential sale prices in Edmonton, from $393,003 in 2017 to $379,539 in 2018. While economic recovery is expected to take some time, the luxury market is thriving, with prospective investors in cannabis and migrant speculators driving this new segment. Meanwhile in Calgary, the market is expected to stay relatively flat in 2019 due to its reliance on the oil and gas industry, and further real estate hindrances like the mortgage stress test.

Conversely, Winnipeg has shown a moderate increase of average residential sale price, rising from $315,720 in 2017 to $323,001 in 2018. Looking ahead to 2019, prices are expected to continue on this upward trajectory, with an expected increase of four per cent. Although the senior population is downsizing, immigration to Winnipeg from urban centres such as Toronto and Vancouver (15,000 people move to Manitoba every year) is expected to drive sales going into 2019. In Saskatchewan, both Regina and Saskatoon have experienced a buyers’ market which is set to prevail into 2019.
 

Source: https://mailchi.mp/7d6af5d9be0c/the-owl-albertas-housing-resale-market-slowed-in-2018?e=6f1f3fb3a5

The value of homes sold in Alberta fell 9.6 per cent in 2018, according to year-end statistics provided by the Alberta Real Estate Association. Total sales through the MLS® systems of real estate boards fell from $22.8 billion in 2017 to $20.6 billion in 2018.

The number of homes sold was also down. There were 53,190 homes sold in 2018 compared to 57,325 in 2017. Another indication of last year’s more lethargic resale market is the ratio of sales per new listing. It fell from 0.49 in 2017 to 0.45 in 2018.

In terms of price, the average fell close to 2.6 per cent, going from $397,871 per home sold in 2017 to $387,460 in 2018.

Several factors help explain the slowdown, including ongoing anxiety about the provincial economy, higher mortgage rates (the Bank of Canada raised interest rates three times in 2018) and stricter federal rules regarding mortgage financing.

All of this results in 2018 being characterized as a “buyer’s market.” Going forward, this should appeal to people considering a move to Alberta and help counter the dampening effects of higher interest rates and other more onerous stress tests.
 

Source: https://albertare.configio.com/post/new-condo-regs-july-1-2019

Service Alberta has announced new condominium property regulations taking effect July 1, 2019. Here are the highlights:

Fee caps on the prices condo corporations can charge owners, buyers, and mortgage companies for obtaining the condo documents needed to complete a purchase or sale.

– $100 max. for an estoppel certificate.
– $10 max. for each document in section 20.57(1) of the Regulations – which includes the documents needed in AREA’s condo listing and purchase contracts.
– If a document is attached to or forms part of another document, a fee can only be charged for 1 document.
– If a 3-day (rush order) is requested, the corporation may charge up to $30 per document, provided that the document is provided within 3 days (excluding holidays).
– Owners may make copies of their documents and provide copies to others.

Clarifying what documents must be provided to owners, and when, for free.

– The minutes from all board meetings held since the last AGM (before or when the AGM notice is sent).
– The approved minutes, or draft minutes, of the AGM (within 30 days of AGM).
– A copy of the notice filed at land titles reflecting the current composition of the board (within 30 days of AGM).
– The results of a vote (within 30 days after the date on which votes must be received).
– A copy of the annual budget (at least 30 days before the start of the fiscal year).
– If revisions are made, a copy of the revised budget (as soon as possible).

Additional changes – most taking effect July 1, 2019 and the remainder on January 1, 2020:

– New rules around meetings, such as requiring more notice to attend general meetings and getting topics on the agenda.
– Better voting rules so owners can participate more effectively in meetings.
– Fairer processes for issuing bylaw fines.
– Increased protections for condo owners’ investments.
– Strengthening how reserve funds are managed (July 1, 2019/January 1, 2020).
– New requirements for insurance and rental deposits (January 1, 2010).
 

Source: https://member.ereb.com/WEB/Documents/pdf/2018-RAE-Commercial-YearEnd-Review.pdf