The Realtors Association of Edmonton just released their April market statistics. By the sound of it, things are sitting pretty here in Edmonton. There were more properties sold in Edmonton this April than April of 2008. Not to mention, the average sale price is only down by 7.40% when compared to April of 2008. I'm happy to see that Edmontonians aren't buying into all the doom and gloom projected by the media!
Here's an excerpt from today's news release:
The average* price of single family homes in the Edmonton area was up 1% from March but, at $353,386, was still 8.5% below the last April price of $386,033. Condo prices were up 2.4% from last month to $236,020 while duplex/rowhouse prices were up 5.2% at $291,068.
“Increased sales activity is evident in most real estate offices and some REALTORS® are reporting multiple offers on select properties,” said Charlie Ponde, president of the REALTORS® Association of Edmonton. “However, inventory is still relatively high and sellers should price their properties aggressively to attract offers.”
“REALTORS® are optimistic about the Edmonton market,” said Ponde. “In-migration figures are positive, retail sales in Alberta are still higher than the rest of the country and unemployment figures are lower than other parts of Canada. First-time buyers are entering the market because of historically low interest rates and renovation incentives are encouraging move-up buyers to consider relocation.”