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.