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Derek Hulewicz
RE/MAX SELECT
12650-151 Avenue, Edmonton, Alberta
P: 780-220-4224
F: 780-457-2194
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Saturday, September 3, 2011 - Edmonton Real Estate Market Update

Edmonton real estate prices are down in August while number of residential sales are up.

The average price of a single family home has decreased by 3.7 percent to $370,438 in August of 2011. Condo prices have also decreased by 5.1 percent to $231,735 compared to July of 2011. It took on average 57 days for the properties to sale, an increase of 6 days from 51 in July, while number of residential sales was up 7.9 percent.

There is no need to panic as the overall market has been stable in the last 3 years, look closely at the below prices of houses and condos:

SINGLE DETACHED homes average selling price in August:

2008: $369,190 2009: $366,788 2010: $372,253 2011: $370,468

CONDOS average selling price in August:

2008: $251,048 2009: $242,035 2010: $232,230 2011: $231,735

“A stable market place and slightly lower prices combined with a slower sales cycle means that there are homes available in all price ranges,” said Chris Mooney, president of REALTORS® Association of Edmonton. “The residential median price ($315,000) remained almost the same as the previous month while the average prices dropped. This indicates that there is a softening of prices at the upper end of the market. Under these conditions, sellers with property priced below the average price for their property type and location will attract more attention and get a quicker sale.”

edmonton single detatched homes selling price for august of 2011

edmonton condos average selling price for aug of 2011

number of residential sales for edmonton august 2011

days on market graph edmonton real estate august 2011

Edmonton Homes For Sale

posted in Edmonton Real Estate Market Update at Sat, 03 Sep 2011 16:11:22 -0600



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Data last Updated: 2019-08-25 at 18:29:26 MDT America/Edmonton
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