The Edmonton, St Albert, and area real estate market has seen a bit of an up and down oscillation in 2009. The number of homes for sale (listings) on the MLS went down to 1118 from 1894 in November.
The average price of a single family home decreased by about $2600 and condominiums increased by about $12000. This could be just another seasonal adjustment, with a bit of a change in the homes and condos sold.
The average days on the market went up slightly to 50 days from 48 days in November, but the Sales to Listing ratio went up to 85 from 67 in November.
The average sale price for a Single family home started out at $352,689 in January, and finished at $366,761. Average Condo sale prices started at $238,535 in January, and finished at $244,174.
On the whole, I think the market still has done much better than a lot of people thought it would in 2009.
Here is the chart comparing the months average prices, for 2009.
The announcement from the REALTORS® Association of Edmonton forecast was “We anticipate sales of about 21,000 units in 2010
which is up 10.5% from the 19,000 residential properties sold in 2009.”
The market should continue to improve as 2010 carries on, although condos look they will remain flat in pricing this year.
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If you would like to find out what homes are selling for in your neighbourhood, just go to www.BenOfficer.ca and click on the “Market Snap-Shot” tab.
Fill-in the info and you will get the report. Tooooo easy.
Ben Officer, CD REALTOR®
RE/MAX Real Estate
Email