St. Albert's downtown core has been ranked on top for safe and affordable living.
MoneySense, a personal finance and lifestyle magazine, named downtown St. Albert as the top place to buy real estate in both Edmonton’s outer suburbs and greater Edmonton in 2018. There were 25 communities ranked for both categories.
Inglewood in St. Albert was listed as the forth best place to buy in Edmonton’s outer suburbs and the 10th best neighbourhood in greater Edmonton.
James Mabey, realtor with Century 21 Masters, said he wasn’t surprised to see St. Albert at the top of the list.
“The amenities that our community provides, we consistently see being a draw for new residents to St. Albert,” he said. “The highlights that (MoneySense) pointed out are often some of the features of our communities that we hear from buyers.”
MoneySense put the downtown area ahead of other communities in the city, citing affordability as the main reason.
The magazine listed the average price for a place in downtown St. Albert at $294,567 in 2017.
The average price of a home in St. Albert is $386,312, almost $100,000 more than the average price of a place in the downtown area. Realtors rated the area 4.5 stars out of five.
An average home in Inglewood was listed at $348,057 in 2017, still slightly less than the city’s overall average price of a home. Realtors gave the area 3.5 stars out of five.
Mabey said typically when he sells a home in St. Albert he talks about the city’s trail system, parks, vibrancy of the community, safety and its school systems.
Ryan Boser, realtor with Sarasota Realty, said while it was easy to see why St. Albert climbed to the top, he didn’t expect the downtown area to be number one.
“I’m a little surprised by that,” he said. “I know there is a plan the city has to continue to improve the downtown core. I think certainly once that Grandin Mall area continues to develop out with all the condos there, and you get a little more traffic down there, it will continue to blossom.”
He said there’s been more traffic going into the newer areas, such as Jensen Lakes. With the movie theatre and the lake, he said new buyers are looking at the area to be their next home. Not as many people have inquired about downtown St. Albert.
How it was ranked
The magazine rated communities based on affordability, how quickly prices appreciate in a neighbourhood and how local realtors rate it.To pinpoint the top places to live, MoneySense started with value, looking at properties that were more affordable in relation to surrounding communities.
Next the financial magazine examined price points over five years. Communities with a stable increase in price indicated places that were higher in demand.
Lastly, realtors at RE/MAX Professionals were contacted to give their overall rating of the area.
Based on the numbers and feedback received on St. Albert, two of its communities landed on the list.
Chantell Plaisant-Grandy, realtor with RE/MAX Professionals, said the city is continuously growing and people are looking to move into the area.
“I totally believe that St. Albert is its own little entity,” she said. “It has all options for people of all different ages. You can live, work and play in St. Albert.”
She said it came as no surprise that St. Albert was selected as the top place to buy in the region.
St. Albert was also listed as MoneySense's Best Small City to Live in Canada in 2016 and the Best City to Live in 2014.
