Hot Market Index:
50.5 °G (2012)
Desirability:
93.6/100 (2012)
Grandview Heights At A Glance
Homes in Grandview Heights
• Average Asking Price (2012): $984,000
• Asking Price Range (2012): $435,000 to $1.85 million
• Average Home Size (Approx): 2300ft²
• Size Range (Approx): 1230ft² to 4510ft²
Grandview Heights Real Estate Market
• Hot Market Index (2012): 50.5 °G
• Absorption (2012): 59.1%
• Buyer Willingness (2012): 90.6%
• Desirability Score (2012): 93.63/100 (Fairly Desirable)
• Dilapidation Score (2006)*: 5.8% (Spectacular)
Grandview Heights & the Average Edmonton Hot Market Index (2012)
Amenities
• Accessibility Score: 173 homes per point of access (Poor).
• Parking: Excellent.
• Transit: 10 bus stops.
• Parks: 1 park within neighbourhood boundaries with direct access to the river valley trails for biking and walking.
Location & Description
Located north of the University of Alberta Farm and west of 122nd Street, Grandview Heights is one of the most exclusive neighbourhoods in Edmonton. They don’t come much fancier than this one, folks. These houses are simply huge – and many of them are backing onto the river valley to boot. Put it this way – the average asking price in this neighbourhood is almost a cool million. There are homes here that are over 4500 square-feet. This is a neighbourhood of big homes and big bank accounts.
As with most expensive areas, the market is not very hot in Grandview. When someone has an expensive home, they can often afford to keep it on the market for a long time and when people are looking into buying an expensive home, they like to take their time. That means things don’t happen quickly in this neighbourhood. People are willing to pay the price here, though. Over 90% of asking price seems reasonable to most buyers. Not many homes sell each year because people are happy to live in Grandview, but when someone does decide to buy he/she will pay the price.
A bar graph showing when homes were constructed in Grandview Heights*
Grandview Heights was developed in the 1960s, and because of that, it’s no wonder the houses are still around. The 1960s were in my opinion the best ever made to date. Now the property values are certainly part of the reason nothing has been built since about that time, but I think the construction quality has a lot to do with it. These houses are well maintained and solid. There was no need to knock any of them down – an no one appears to have wanted to… so far.
A pie chart showing home types in the Grandview Heights neighbourhood*
Just houses here and a small apartment building according to Census records. Looks like Grandin Arms is the only apartment building in the entire neighbourhood. Another result of the high property values. This is not likely to change either. Single family homes (almost) all the way.
A pie chart showing how many homes are rented versus how many owned in Grandview Heights*
With house prices being what they are in Grandview, it’s not hard to believe that almost no homes are rented out. Just over 5% of all units are investor owned. It just isn’t feasible to spend that kind of cash on a rental. I don’t see this ever changing in Grandview. People buy homes to live in one of the most exclusive and beautiful neighbourhoods in Edmonton. You don’t spend that kind of money so someone else can enjoy it!
Condos in Grandview Heights
There are no condominiums in Grandview. Big surprise there!
Schools
Elementary:
Grandview Heights School – 6225 127 St | 780-434-1502
Junior High:
~ None in this neighbourhood
High Schools:
~ None in this neighbourhood
Other Schools:
~ None in this neighbourhood
Parks & Recreation
• Grandview Park – 6223 124 Street NW
• Whitemud Park – 13204 Fox Drive NW (Direct access to)
Access & Parking
Access to Grandview Heights is not great. There aren’t too many homes, but there are only 2 exits and they both use 119th Street. If there is anything amiss with that road, there would be problems for sure. As it stands, the access score is 173 homes for each point of access. That isn’t as bad as some denser areas, but it’s not great for getting out in a hurry, that’s for sure.
Parking in Grandview is amazing. Frontage on all the homes is massive and the streets are wide – plus almost everyone has a garage which keeps most cars parked off the road. There would be no problem parking here at all.
Transit
Grandview has quite a few bus stops for such a small community – one for every 35 homes. That’s plenty.
* Source: 2006 Census of Canada, Statistics Canada
by +Alan F Macdonald REALTOR® | Copyright © – gimme-shelter.com
[60016]
