Real Estate is Stabilizing and gearing up for the Spring Market…

Edmonton, February 2, 2011:

In Residential Properties:

1st Star: Single family homes (SFD)

2nd Star: Condos

3rd Star: Duplex/Rowhouse Property

The Hardest hit Properties by Sub Type in January 2011 was the Condo and the Duplex/Rowhouse Property.  The average Condo price was $220,993 in January as compared to $233,529 in December 2010. Duplex and rowhouse prices also dropped on average from $315,163 to $297,587 a 5.6% drop.  Condominium and Duplex/Rowhouse Properties are at their lowest price ranges since 2006.

Meanwhile, the Single family homes rose a quarter of a percent from $355,270 in December to $356,276 in January.  All prices reflected sales across the entire Edmonton region including surrounding communities and counties. 

Residential listing activity rose from 1,102 units in December 2010 to 2,142 units in January.

Inventory of homes on the Multiple Listing Service® System decreased from 5,721 at year end to 5,633 as of January 31.

The average days-on-market in January was 67 days up from 66 in December.

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