The REALTORS® Association of Edmonton, publishes monthly updates on the status of Real Estate in the Edmonton region.
I've noticed a definite upturn in the amount of activity in the local marketplace, especially in the middle price range ie $300,000 - $450,000. The upper end of the market is still a little slow and there seems to be an abundance of condominium available in various parts of the market area
Edmonton, October 2, 2013: The REALTORS® Association of Edmonton released market housing statistics for the year to date (YTD) including the month of September. The all-residential average price for the first three quarters of the year in the Edmonton CMA is $350,741 as compared to $340,090 in 2012. In September, the all-residential average was $352,057, up 5.4% from a year ago and inching up from $351,455 in the previous month.
Year-over-year sales were also up 19.4% with 1,466 (adjusted, 1,357 actual) all-residential sales in September. There were 13,691 residential sales in the Edmonton CMA in the first three quarters of 2013 as compared to just 12,876 sales at the same time last year.
“Our members report that the market is very active with many properties attracting multiple offers,” said President Darrell Cook. “The increases in the Alberta population are driving the market and because of the steady sales there are inventory shortages at the lower price ranges.”