July 5th, 2011 REAL ESTATE MARKET REPORT

For the most part The City of Edmonton, St. Albert and Surrounding Areas have been very resilient despite all the uncertainty that abounds.

Since January of this year the average* price of a single family detached home has risen from $357,540 to $379,409 while the all-residential price has risen from $308,497 to $330,297. A stronger showing in prices rising consistently as compared to the levels set in the past two years.

Prices in June were generally stable.

  • Single family homes were up 0.31% from $378,239 to $379,409.
  • Condo prices dropped from $239,782 to $231,852 (down 3.3% after rising 3.1% in May). 
  • Duplex and row house prices climbed slightly from $295,334 to $296,689. 
  • The all-residential average price dipped 0.5% during the month of June.

There were 1,768 residential sales in June within 3,260 listings. Promoting a sales-to-listing ratio of 54%. This is compared to 53% in May.

Right now there are currently 8,432 residential properties in the MLS® System inventory and it could take a little longer to sell that property since the average days-on-market is now at 53 days rather than the 50 days in May. 

For more information regarding these and other statistics, please contact:

Guy Pelletier

BROKER

CENTURY 21 Reward Realty 

* Average prices indicate market trends only. They do not reflect actual changes for a particular property, which may vary from house to house and area to area. Prior period figures have been adjusted to include late reported sales and cancellations and therefore reflect a more accurate view of the period than previously reported at month end.

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