Local Housing Market continues upward trend

By
Real Estate Agent with Century 21 Platinum Realty

Edmonton, August 3, 2011: According to the REALTORS® Association of Edmonton, the average price of housing increased through July as compared to the previous month. The all-residential average price increased 1.1% to $334,054; up from $330,298 in June. Single family home prices increased 1.3% while condo prices rose 4.3% during the month.

Residential sales in July were 1,441 up 3.6% compared to the same time last year. Residential listing activity dropped slightly in July to 3,038 units; down 210 units from June but up 193 units from the same time last year. The inventory of homes on the Multiple Listing Service® is quickly approaching par from last year at 8,421 properties available as of July 31.

“Our local housing market is quite healthy with affordable prices, a good inventory and strong sales,” said REALTORS® Association of Edmonton President Chris Mooney. “The selection of properties on the market for buyers is excellent. With employment opportunities popping up throughout the region and interest rates being very attractive, now is a good time to purchase a property in Edmonton.”

The average* price of a single family detached home in July was $384,656 with a median price of $360,000. Condo average price was $244,225 with a median of $223,000. Duplex and rowhouse prices rose on average from $296,969 to $309,816, a 4.3% increase.

“The increase in housing prices is on track with our January forecast and as we move into fall, we don’t see prices increasing substantially,” said Mooney.

The average days-on-market in July was 51 days: the same as in July 2010. The residential sales-to-listing ratio was 47% in July and total MLS® System sales were over $3.887 billion for the year so far.

http://www.ereb.com/News&Events/LatestMarketStatistics.html

Posted by

Lyndon Sommert

Alberta Real Estate Guru'sREALTOR®

Century 21 Platinum Realty - Agent

www.edmontonrealestateguru.com

albertarealestateteam@gmail.com

Ph: 780-439-3300

www.facebook.com/edmontonrealestateguru.com

www.twitter.com/edmontonreguru

www.leadingsells.com

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Michelle
you did some home work, and this site is a departure for you. There are a copule of things that go back to the military budget. Obama was elected because he said he would get us out of Iraq, and Afganistan. I heard a Republican refer to Afganistan as Obama's war. What I know is Osama bin Laden is dead, and another Al Quida leader in Pakistan is dead, as of this week end. The report from the military is that Al Quida is on the ropes. Wasn't that the goal? There is also a transfer of $2 trillion in hardware from us, to the Iraqis, and Afganies. We need to end our involvement, in a timely manner. We can redirect our military presense. The article you linked to is referring to the Panama Canal days. What's interesting to me is that the transfer of the Panama Canal to Panama never resulted in the catastrophy that was expected. Panama seems to be able to operate the Canal just fine. We can cooperate with foriegn governments without taking over. I think, in my opinion, Iraq, and Afganistan showed regime change doesn't happen. Columbia is another United States military disaster. We can't take kids, or insurance sales people, no matter how well trained they are, and put them in front of generational killers. A raid like against Osama, OK, but on the ground with people who kill for a living is really dicey. We can redirect military. We can redirect our budget.
Jul 19, 2012 06:23 PM #1
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