RSS

Stability in Edmonton Housing Market continues through February

Edmonton, March 2, 2010: Prices for residential property sold through the Edmonton Multiple Listing Service® changed marginally through February. Sales activity, however, was up dramatically when compared to last month or the same month last year.  

The average* single family dwelling price was $369,573 for February up just 1.4% from January; 5.6% from a year ago. Condominium prices dipped 3.8% in the month from $240,686 to $231,530. Duplex and rowhouse prices were up 3.3% to $315,390.

“While prices remained stable through February the increase in sales activity indicates that there is a demand for housing in the Edmonton area,” said Larry Westergard, president of the REALTORS® Association of Edmonton. “Listings also increased in February leading to a bigger month end inventory of homes and relaxing concerns that inventory may be too low to handle the spring buying season.”

In February, housing sales were up 33.9% compared to January with 1,184 residential sales. Total residential sales were also up 7.6% from last February. There were 2,505 residential listings added during the month resulting in a 47% sales-to-listing ratio and a month-end inventory of 5,449 homes. The average days-on-market was down 10 to just 47 days. Total sales through the Edmonton MLS® System (including residential, commercial and rural properties) in February were valued at $416 million (up 10.5% from last year).

“The upcoming changes to mortgage qualification rules and impending mortgage rate increases may prompt some buyers to enter the market earlier and cause some additional slowdown in the third quarter,” said Westergard. “As usual, REALTORS® will be challenged to be a voice of reason in the real estate transaction and work to meet the needs of their eager clients without putting their financial health at risk.”

A new and improved MLS® System statistics package is available to consumers at ereb.com with year-to-year comparisons and expanded reporting of the condominium market and new sub-market reports. The public will also find median prices in addition to the typical average price statistics.

-30-

Highlights of MLS® activity

¹. Residential includes SFD, condos and duplex/row houses.
². Single Family Dwelling
³. The middle figure in a list of all sales prices

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

Read
Categories:   A-003605, Edmonton Real Estate | A-205200, Edmonton Real Estate | Beaumont, Beaumont Real Estate | Fort Saskatchewan, Fort Saskatchewan Real Estate | Hinton, Hinton Real Estate | Leduc, Leduc Real Estate | Lloydminister, Lloydminister Real Estate | New Sarepta, New Sarepta Real Estate | OTTEWELL, Edmonton Real Estate | Rural Lamont County, Rural Lamont County Real Estate | Rural Parkland County, Rural Parkland County Real Estate | Rural Strathcona County, Rural Strathcona County Real Estate | Rural Sturgeon County, Rural Sturgeon County Real Estate | Rural Wetaskiwin County, Rural Wetaskiwin County Real Estate | Sherwood Park, Sherwood Park Real Estate | Spruce Grove, Spruce Grove Real Estate | St. Albert, St. Albert Real Estate | Stony Plain, Stony Plain Real Estate | Tofield, Tofield Real Estate | Zone 01, Edmonton Real Estate | Zone 02, Edmonton Real Estate | Zone 03, Edmonton Real Estate | Zone 04, Edmonton Real Estate | Zone 05, Edmonton Real Estate | Zone 07, Edmonton Real Estate | Zone 08, Edmonton Real Estate | Zone 09, Edmonton Real Estate | Zone 10, Edmonton Real Estate | Zone 12, Edmonton Real Estate | Zone 13, Edmonton Real Estate | Zone 14, Edmonton Real Estate | Zone 15, Edmonton Real Estate | Zone 16, Edmonton Real Estate | Zone 17, Edmonton Real Estate | Zone 18, Edmonton Real Estate | Zone 19, Edmonton Real Estate | Zone 20, Edmonton Real Estate | Zone 21, Edmonton Real Estate | Zone 22, Edmonton Real Estate | Zone 23, Edmonton Real Estate | Zone 27, Edmonton Real Estate | Zone 28, Edmonton Real Estate | Zone 29, Edmonton Real Estate | Zone 30, Edmonton Real Estate | Zone 35, Edmonton Real Estate | Zone 42, Edmonton Real Estate | Zone 51, Edmonton Real Estate | Zone 53, Edmonton Real Estate | Zone 55, Edmonton Real Estate | Zone 58, Edmonton Real Estate | Zone 59, Edmonton Real Estate
Copyright 2024 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.