To get a house today at 2006 Single family home average prices, we would have to slip down to average prices of $292,829 - is that possible? In my opinion, NO.
We actually only have 20% increase in housing prices in the past 2 years - 10% a year return - that sounds like a reasonable return and hasn't the land always given reasonable return?
At December 2008 year end the statistics are ...
Posted by Guy Pelletier
on January 6, 2009
With the unraveling of the month of November 2008, here is the Greater Edmonton MLS Statistics:
The average price of a single family residence still hovering at the $362,000 range
Condos are still continuing to slide to an average price of $231,531 (at the height of the market back in June 2007 it was at $266,100 - about a $35,000 difference or a 12.9% Drop)
Overall the Average residential ...
Posted by Guy Pelletier
on January 6, 2009
Even while the economy is ebbing and flowing in a sea of uncertainty, right here in Edmonton Alberta the average price of a single family home stood its ground and made some headway, creeping up from October's reported average price of $362,097 to Novembers reported price of $363,274 (a .33% increase).
The condo market that has been fairly stable, experienced its largest ...
Posted by Guy Pelletier
on November 17, 2008
Prices dropped in Single Family Homes in September on average about 1.9% equating to about a $7,093.00 drop in value, but....
LOOK AT THE SIGNS OF STABILITY:
In contrast the Condos held their ground and increased in value on average from $$251,048 to $252,234! That is a good sign.
Another good sign is that the Duplex and Rowhouse style properties were up 0.1% - selling on average for $315,690.
A ...
Posted by Guy Pelletier
on October 3, 2008
Good Points:
Our residential sales were up 18.6% in August 2008 as compared to August 2007.
New listings were down (which is good) - dropping below the 10,000 mark for the first time since March 2008
Not so good points:
Our new home sales are down dramatically partially because of the wide selection of homes available through the MLS®
Average prices (indicating our market trend) ...
Posted by Guy Pelletier
on September 18, 2008
Being in the trenches everyday, fielding calls, being involved in Buyer and Seller Presentations we can tell that the Market in Single Family Homes (houses) are taking longer to sell (now 55 Days from 53 Days) and the sellers are adjusting accordingly.
In May the average house was $383,167 now in June Single family dwellings sold for $381,384
In Contrast:
Condos in May we were at ...
Posted by Guy Pelletier
on July 4, 2008
At the time of this writing we have had 1833 Expired, Terminated and Cancelled Single Family and Condo Listings since December 1st 07.
There are 4571 Active Single Family and Condo Properties right now.
Contrary to popular thinking, I believe we are moving to a more balanced market place whereby the Buyer and Seller can avoid the volatility that we have been experiencing ...
Posted by Guy Pelletier
on April 24, 2008
Resale housing sale prices January 08 were getting better. Average days on the market still rose from 56 to 61 days but the sales were there. We are still experiencing a lower than should be Listing to Sales Ratio at 36% (A more balanced market reflects about a 66-67% Ratio)Timing is good though since we are now approaching the Spring Market.
Posted by Guy Pelletier
on April 24, 2008