Single Family Homes lead the Charge !

Edmonton, St. Albert and Area December, 2009:

Single Family Dwellings faring far better than Duplex and Condominium style properties …

In November, the average price of a single family dwelling went up 1.2% to $368,018*, reversing a 2% drop in the previous month - thumbs up to that one!

Another plus is that the total sales through the Edmonton, St. Albert and Area Multiple Listing Service® system to the end of November have surpassed total yearend sales of 2008!

There have been 20,355 property sales so far as compared to 19,448 at year-end 2008..we are on a roll...

Now in regards to Condominium prices, they are down 2.5% from last month - The average price for a condo in November 2009 was $231,684  :(

At $284,849, the duplex and rowhouse prices were down 4.7% from last month and down 9.5% from a year ago  :(

Subsequently,  duplex and rowhouse prices, as well as the Condominium prices dragged down the overall all-residential average price down marginally from October and the previous November. The overall residential price now sits at $318,482. (in October was $318,969... only down $487.00)

There are signs of a more balanced market surfacing; there were 1,894 homes listed on the MLS® System in November with 1,261 sales for a sales-to-listing ratio of 67%

Total available inventory was 5,226 homes which is a typical four month supply. Homes sold on average in 48 days which is up one from last month.

Buyers have confidence in this market and as a REALTOR® we can match their needs with the perfect housing option!

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

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