56.0 °G (2011)
94/100 (2011)
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McKernan At A Glance
Homes in McKernan
• Average Asking Price (2011): $436,000
• Asking Price Range (2011): $240,000 to $730,000
• Average Home Size (Approx): 1240ft²
• Size Range (Approx): 670ft² to 3050ft²
McKernan Real Estate Market
• Hot Market Index (2011): 56.0 °G
• Absorption (2011): 54.1%
• Buyer Willingness (2011): 96.0%
• Desirability Score (2011): 94.3/100 (Very desirable)
• Dilapidation Score (2006)*: 16.8% (Poor)
McKernan & the Average Edmonton Hot Market Index (2012)
Amenities
• Accessibility Score: 29 homes per point of access.
• Parking: Good in most areas.
• Transit: 15 bus stops and an LRT station.
• Parks: 3 parks within neighbourhood boundaries
Location & Description
McKernan is an interesting neighbourhood. It seems to not only enjoy close proximity to the University, but also be a great value for buyers and investors. McKernan’s Hot Market Index is much higher than the surround area, indicating that it is popular with buyers. With the average asking price well over $400,000, no one would call McKernan cheap, but there is certainly value there. Located between Belgravia and Queen Alexandra, the boundaries of McKernan are University Avenue to the north, 109t Street to the east, 72nd Avenue to the South and 114th Street to the south-west with a strange little jog that takes a bite out of what you might think should be Belgravia.
McKernan is located in Edmonton real estate zone 15 along with Allendale, Parkallen, Garneau, Windsor Park and the University of Alberta.
A bar graph showing when homes were constructed in McKernan*
McKernan has been part of the City of Edmonton since 1912, but not many houses are still around from back then. The majority of the construction was done after World War II and except for a little blip in the 1970s, not much has been done since that time. I anticipate many of the older homes being replaced by much larger infill homes in the future – certainly if housing prices go up in other areas and McKernan stays as reasonable price-wise as it has in the past.
A pie chart showing home types in the McKernan neighbourhood*
You can see from the chart that there are a lot of semi-detached homes in the area as well as a few row houses and low-rise apartments. McKernan has a pretty good density compared to areas nearby, likely because of the demand for student housing.
A pie chart showing the percentage of homes that are rented versus owned in McKernan
Over half of all properties in McKernan are rented. This is not as high as say, Garneau or Strathcona, but still quite a bit over the City of Edmonton average. Many of these tenants would be students. It is unlikely that any property purchased for investment purposes in McKernan would stay vacant for long – a big deciding factor for investors.
Condos in McKernan
There are only two condominiums in McKernan – pretty slim pickings if you’re looking for a condo in this community. They are:
• Arden Court – 10908 73 Ave & 10903 74 Ave | Spacious townhouses with garages built in 1994.
• McKernan 111 St & University Ave – 11117 University Ave | A 4-plex townhouse style condominium built in 1979.
There may be other buildings in the area that are owned by investors and are rented out, but they are not condominiumized. There is no list available of those rental apartments or the like.
Schools
Elementary:
McKernan School – 11330 76 Ave | 780 435 4163
Junior High:
McKernan School (see above)
High Schools:
~ None in this neighbourhood
Other Schools:
~ None in this neighbourhood
Parks & Recreation
There are 3 City parks in McKernan. They are:
• Charles Simmonds Park – 7830 115 St
• Gowan Park – 11321 78 Ave
• McKernan Park – 7535 112 St
Access & Parking
Parking in McKernan isn’t too bad with some restrictions in the daytime but none in the evening. There may be some streets that only allow parking on one size because they are a bit narrow, but other than that and the time restrictions in the northern part of the neighbourhood, there should be no problem. Access is quite excellent for this part of Edmonton. There are 37 points of exit/entry for this community giving it an Accessibility Score of 1070/37 or about 29 homes per access point. This should make it easy for residents to get into and out of their neighbourhood.
Transit
Catching the bus or hopping on the LRT shouldn’t be a problem for most of the residents of McKernan. There are 15 bus stops plus one LRT station in the community which means there is one transit spot for every 71 homes. Even with all the students who live in the area, that should do quite nicely. And because the LRT station is right on the edge of the neighbourhood, students who attend the University will be able to hop on very easily.
* Source: 2006 Census of Canada, Statistics Canada
by +Alan F Macdonald REALTOR® | Copyright © – gimme-shelter.com
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