 |
 |
|
GRANDE PRAIRIE
ALBERTA, CANADA
Grande Prairie
Real Estate
Homes for sale in Grande Prairie and area.
Casey Van der Kaa, Gail Haakstad, Kelly McLeod, Jeannie Schultz, Joan Prankie are some of the top Real Estate people in Grande Prairie. Check out their listings on this page as well as their websites for more listings.
The Grande Prairie Real Estate Market has seen some unusual circumstances in the last couple of years. (2005-2006) With so many jobs and not enough people to fill the positions, there was an influx of people moving to Grande Prairie. Homes couldn't be built fast enough as most of the homes on the market sold quickly. At the peak of the crunch, many properties were sold before the Grande Prairie Real Estate agents could put up a "For Sale" sign.
More carpenters, more roofers, more plumbers, more electricians etc were needed. Getting people to work was one problem, getting them a place to live was a much bigger problem. Some families ended up in a one room hotel for months because they couldn't find a home to live in. There were a few months when houses were selling higher than the listed price. Increases of $10,000 to $15,000 per month were seen on some new homes. Nearby hamlets and towns also seen price increases as well.
With the shortage of homes for sale in the Grande Prairie Real Estate Market, it also affected the amount of available rentals on the market. Prices of apartments and other rentals started to increase. There were many people who now could not afford the cost of rent and for the first time, Grande Prairie started to see a large number of people living in RVs year-round at nearby campgrounds.
In the summer of 2007 there were signs of the market levelling out. There was now more supply of homes on the market and for the first time in years we seen homes advertised with "reduced prices, eager to sell". The market was now separating the real sellers from the speculators.
May 2007- The Alberta Government has introduced new laws pertaining to rent increase. For many years rent increases could be done 2 times a year and had to have the 90 days notice of rent increase to the tenant. The new law states only 1 increase can be made per year. This however does not regulate the amount of the increase. If a landlord is converting an apartment building into condominiums, each tenant must be given one years notice.
GRANDE PRAIRIE REAL ESTATE
Homes for sale in Grande Prairie
Home Sales Decline in June
July 2010 - Information released by the Grande Prairie and Area Association of Realtors indicate that home sales declined in June as compared to last year by 33%. There were 12% more listings on the market in June and even with the more supply of homes, the over-all price was up by 4% over June of 2009. The average price of a home in Grande Prairie is now $270,000.
 |
May 2010- The Grande Prairie Real Estate Market is much stronger in 2010 than 2009. It looks good for the rest of the year too. You can watch an interview with Jamie Menzies, President of the Grande Prairie and Area Association of Realtors with more information. Play VIDEO> 2:10min. |
June 2010- Housing Starts across Canada (January to May) saw single detached homes increased 80% over the same time period in 2009. Multi family units, duplexes and apartments increased by 50%.
May 2010- The Bank of Canada raised its short-term rates by .25 percentage points, the first increase since July 2007. Canadian banks followed by increasing their lending rates as well. A mortgage payment would increase about $12.00 a month on a $100,000 mortgage.
April 2010- Royal Bank of Canada and the Bank of Nova Scotia have raised fixed interest rates by another 1/4 percent on April 13, so the new 5-year mortgage rate is now 6.10 percent. Also, as of April 19, those wanting to buy investment property (ex: rental property) will have to put a minimum down payment of 20 percent. Big increase from 5 percent. This change could affect the amount of new rental properties being developed, which could lower the vacancy rate and result in higher rent. The new rules also change the qualifying benchmark for homebuyers. Everyone will need to qualify for a five year fixed mortgage even though you may choose a short term or variable mortgage.
April 2010 - It has been reported in the news that the Canadian Economy has grown 6.2% in the first quarter of this year. That is better than other G-7 nations. It is anticipated that this trend will continue in the next quarter.
March 2010 - RBC Royal Bank, TD Canada Trust, and Laurentian Bank raised their closed mortgage rates on three, four and five year terms as of March 30, 2010. Five-year mortgages had the largest increase of six-tenths of a per cent, from 5.25 per cent to the new rate of 5.85 per cent. The other banks were expected to follow the increase. The rates have been low for over a year to help stimulate the economy, but with the signs of the economy improving, the banks needed to keep a handle on inflation.
March 2010- The Canadian Real Estate market showed that February (196,700 starts) had an increase in housing starts over January (185,400 starts) This is always a good sign. (Info per the Canadian Mortgage Housing Corp) The Canadian Real Estate Association has stated that National Sales Activities were lower in February but "New Listings" rose. The average price of a home in Canada in February 2010 was $335,000 which is up 18% from a year ago.
 |
Jan 2010- The latest update on the Grande Prairie Real Estate market indicates the average home price in Grande Prairie is $269,000. The Real Estate market is improving as reported by Jamie Menzies, President of the Grande Prairie and Area Association of Realtors, and Broker/Owner of Royal LePage, the Realty Group. See the complete interview in the latest Video. (2:10 min) |
FORECAST 2010:
According to the experts, the 2010 forecast for Canada includes a stronger growth in job creation. The economy is expected to grow at least 2.7% and house prices are expected to increase. Most likely interest rates will also rise.
Nov 2009 -According to CHMC, the housing market is most likely to improve in 2010 but it will depend on what happens with the natural gas market. The average house price has started to increase a bit. Grande Prairie has the highest vacancy rates in Alberta (for apartments) at 15.5%. The survey included the county, Beaverlodge, Sexsmith and Wembley.
July 2009- According to the Canada Mortgage and Housing Corporation, there has been improvement in the housing starts for June, and Grande Prairie had the highest jump in the Province, up 65% over last year. Realtors have indicated that the housing market in Canada is becoming more balanced, which the conditions don't favor either the buyer or the seller. In Grande Prairie May 2009 had a good month for home sales and the best since September of 2008.
Jan 2009- Overall there were 836 housing starts in Alberta in January (down from 2185 last year)
June 2008- A new Canada Mortgage and Housing survey (April) shows the vacancy rate is now at 8.8% in Grande Prairie compared to .09 % a year ago.
(One of the newer subdivisions on the southeast part of Grande Prairie called Countryside North.)
May 2008- In Grande Prairie from January to the End of May there have been a total of 179 total housing starts compared to 788 during the same period in 2007.
Feb 2008- House sales are down in Alberta with Calgary being down about 30 per cent over a year ago, while Edmonton had a drop of 21 per cent. Saskatchewan is actually up in house sales, with Saskatoon up by 37 per cent and Regina up to 69 per cent.
Jan 2008- There are obvious indications that the housing market is slowing down by the number of homes being built. Statistics indicated that there was a drop of 61.1 per cent in housing starts in Grande Prairie for December of 2007. (CMHC statistics of combined single and multiple family homes)
Dec 2007- Grande Prairie is not the only city in the Peace Country that has had a sudden surge in apartment rental vacancies. For St. John's most recent number for vacancy rate is 3.9 per cent. That is a big increase over the 0.8 percent of last year. Over all the Province of British Columbia had a decline of vacancies.
(pictured above are 5 homes being built at Westpointe Subdivision in Grande Prairie.)
Sept 2007- The average price of a home in Grande Prairie climbed to $301,400, an increase of 10 per cent from $274,000 last year. Over 600 residential properties are on the market at this time, a number much higher than the previous year, which means properties now take longer to sell. Buyers have more selection and have more time to consider each property. The average amount of time a house is on the market is 47 days. The bottom line is, that houses are still being sold. From January to August in 2006, there were over 1,300 homes sold compared to about 1,200 in 2007.
Dec 2007- Grande Prairie has now the highest "apartment " vacancy rates in Alberta with 4.9%. That compares to .01% a year earlier. One of the reasons why there was such an increase, is that there had been a large number of apartments under construction and recently were completed flooding the market. (Canadian Mortgage Housing corporation did a Rental Market Survey of apartments only). Checking the classifieds of the Grande Prairie Daily Herald Tribune, there seems to be more rentals available and the prices have started to fall. Those units that are still well over-priced are now sitting on the market with no tenants. Not a good situation for some investors who came in the market late when it was high and who now need a certain "high price" to pay the mortgage.
 |
 |
|
$734,900 - Lot 1A Meadow Brook Estates, Grande Prairie, Alberta
Gorgeous 2328 sq ft home is nestled into a mature treed setting on just under 5 acres with pavement right to the subdivision entrance. Massive main floor vaulted ceiling, handscraped alder hardwood flooring, beautiful alder cabinets with crown molding and over and under lighting, granite countertops, wired for home automation, timber beams and accents, gas fireplaces. Go to KellyMcLeod.com to view virtual tour. Kelly McLeod website |
$299,900 - 12210 103A St
Grande Prairie, Alberta MLS® #L058406 The Preston by Devonshire, 1513 sq ft 2 storey, basement complete to fininshing stage with a bedroom, bathroom, and a large family room with gas fireplace all with 9 ft ceilings. 3 bedroom and 2.5 bathroom home featuring a front flex room and main floor laundry. Tile flooring in entrance, kitchen, bathrooms and laundry. Contact Casey Van der Kaa 780-831-9173. Casey Van der Kaa website |
 |
 |
|
$429,900 - 9326- Wedgewood Drive. Grande Prairie, Alberta
Fully developed, spacious home in prestigous Wedgewood. Front living room, formal dining room, open kitchen with island and breakfast nook, 3 bedrooms, 3 full baths, family room with gas fireplace with walkout to backyard, garage entrance to third level and finshed fourth level. Beautifuly landscaped yard. Call Gail Haakstad 780-539-5771. Gail Haakstad website |
$489,900 - 8801 114 Avenue
Grande Prairie, Alberta MLS®: L053262 CUSTOM BUILT EXECUTIVE HOME. Outstanding bungalow with triple car garage. Open floor plan, spacious foyer with infloor heated tile opening into a great room with kitchen/dining and family room. 9' ceilings, custom maple cabinetry, crown mouldings, Mirage hardwood and gas fireplace. Call Jeannie Schultz to view this one. 780-978-0485. Jeannie Schultz website |
 |
 |
|
$679,900 RR NW 11-73-10 W6 Hythe, Alberta
MLS®: L053155 This acreage has fully developed 1600 sq.ft. raised bungalow, insulated triple attached garage. Abundance of cupboards and counterspace in the large kitchen, pantry, laundry/mudroom off the garage, a free standing wood cookstove, in-floor heat in the basement. Call Jeannie Schultz to view this home. 780-978-0485. Jeannie Schultz website |
$974,900 - RR 52 Grande Prairie, Alberta
MLS #L058254 1 yr old fully developed 2-storey home with large attached garage, plus 40' x 60' finished shop on 3 acres, only 5 km from City limits - not in a subdivision. High quality finishing throughout. MUST SEE - too many features to list! To view this awesome acreage, call Joan Prankie 780-518-9600. Joan Prankie website |
 |
 |
|
$189,900 - 12310 -102 St #203
Grande Prairie, Alberta Inverness Estates, 1073 sq ft Glencoe plan on the second floor.two bedroom, two bathroom with ensuite and walk-in closet. The kitchen, dining and living area are open concept with lots of light. Stainless steel appliances compliment the lovely maple cabinets. Heated underground parking stall comes with this condo. Call Gail Haakstad to view this one. 780-539-5771. Gail Haakstad website |
$359,900 - 12417 106 A Street
Grande Prairie, Alberta Open main floor with rustic laminate flooring and wood burning stove, spacious kitchen has tons of counter space, maple cabinets and stainless steel appliances. The dining area has sliding door leading out to a massive south facing deck which overlooks a giant fenced yard and rear easement. The main floor has two bedrooms and a bathroom and your enviable master bedroom is over the garage. Go to KellyMcLeod.com to view virtual tour. Kelly McLeod website |
 |
 |
|
$305,000 - 8910 122 Ave, Grande Prairie, AB
MLS® #L058324 1216 sq ft bunglow located in The Shores at Crystal Lake Estates, gated luxury community with proximity to parks, the lake and walking trails. 2 bedrooms upstairs with full ensuite off master and a walk-in closet. Open kitchen, dining and living room with vaulted ceilings, gas fireplace and patio doors to the backyard deck over looking the park. Contact Casey Van der Kaa 780-831-9173. Casey Van der Kaa website |
RARE FIND! - 8 km to Grande Prairie! $949,000.
MLS # L054084 Exquisite 2 yr old "Dream Home" with established Bed & Breakfast Business. Continue this business or simply enjoy this luxurious home featuring 5 huge bedrooms each with their own full deluxe ensuite. "Nanny suite" in full walk-out basement. Call Joan Prankie to view this home. 780-518-9600. Joan Prankie website |
ROYAL LEPAGE WEBSITE
Royal LePage is the exclusive Real Estate Company supporting DiscoverThePeaceCountry.com.
ABOUT THIS SITE, COMMENTS, FAQ.S / EXTERNAL LINKS
Legal: All pictures, images and information on discoverthepeacecountry.com are protected by copyright which means it is unlawful to reproduce any picture, image or information in whole or part without written permission. For those who wish to use a picture/image from this website on another website can do so by signing a licensing-use agreement contract for a minimum cost of $10,000 per picture. Using pictures for any amount of time without the licensing agreement will result in legal action taken to recover the costs of $10,000 per picture.
© Copyright 2003-2010. Contact: kenconnors@excite.com