STEADY AS SHE GOES!

February 2010

St. Albert, Sturgeon County, Edmonton and Area.

Overall Real Estate Prices in the St.Albert and Edmonton area have remained stable through February 2010 due in part to a better performance by the average Duplex and Rowhouse properties, Single Family Dwellings and Acreage with Homes.

There has been an increase in sales activity in February as compared to January 2010 indicating that there is a demand for housing in the St.Albert and Edmonton area.  Listings are also on the rise in February leading to a bigger month end inventory of homes and relaxing buyers concerns that inventory may be too low for a good selection in the spring buying season.

St.Albert Single Family Home Median Prices Year to Date (This graph illustrates the high probability of a brisk Spring Market - especially with the upcoming changes to mortgage qualification rules and impending mortgage rate increases)

Edmonton Single Family Home Median Prices Year to Date:

The average days-on-market was down 10 to just 47 days. Lower Sales Volumes apply across the board to all types of real estate: i.e. Residential, Rural and Commercial.

An average Single Family Dwelling was $369,573 for February up 1.4%

Average Pricing YTD (Jan- Feb combined):

2010 - $367,379

2009 - $350,807

2008 - $381,873

2007 - $368,540

An average Acreage with Home was $459,673 for February up 1.01%

Average Pricing YTD (Jan- Feb combined):

2010 - $454,526

2009 - $423,379

2008 - $485,156

2007 - $415,908

An average Condominium price dipped 3.8% in the month of February from $240,686 to $231,530.

Average Pricing YTD (Jan- Feb combined):

2010 - $231,530

2009 - $229,685

2008 - $263,963

2007 - $248,493

I am impressed with the Duplex/Rowhouse Style Properties that have been very consistent since 2007 – They are good affordable 1st time buyer, downsize and rental style property:

An average Duplex and Rowhouse was up for February 3.3% to $315,390. 

Average Pricing YTD (Jan- Feb combined):

2010 - $311,072

2009 - $290,858

2008 - $301,941

2007 - $307,746

*Average prices indicate market trends only. They do not reflect actual prices, which may vary.

Guy Pelletier

Guy Pelletier

Broker/Owner
CENTURY 21 Reward Realty
Contact Me

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