Categorized | Residential

Edmonton (Canada) Property Rates Decreased and Sales Increased

Edmonton (Canada) Property Rates Decreased and Sales Increased
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The residential real estate market of Edmonton experienced an increased sales trend in the month of June as the prices remained stable as compared to the same month last year.

The sale of residential housing settled at a level of 1,768 properties reaching a listing of 3,260, thereby, making the sales-to-listing ratio of 54 per cent which was 48 per cent in June 2010. The residential MLS sales closed the month at a sales achievement of $584 million, which is an increase of 7.6 per cent from the previous year. This was reported by the Realtors Association of Edmonton on Tuesday.

The real estate project of single-family MLS also showed an increase of 15.1 per cent to a level of 1,165 projects from the 1,012 residential homes in the previous year. The average selling price of the single-family MLS was calculated to be $379,409 which shows a decreasing trend of 2.86 per cent in every proceeding year.

The sales price of a median single-family house was set at $361,888 which has an increasing tone of 1 per cent at each coming year.

The sales of Condos remained constant as this year sales recorded 482 condo sales as compared to 486 condo real estate transactions in the last year. However, the average selling price of condos closed at $231,852 which is running at a decreasing rate of 5 per cent year-after-year.

An economist of ATB Financial institution, Dan Sumner pronounced that the real estate sector in the city probably will not see either a surge in prices or in correction of the same. However, he declared that the outcome of this situation lies somewhere between it.

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About Josh Johnson

Josh is the main writer for the Residential category. He also helps out on other categories when needed, mainly the International section.

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