The average residential MLS sale price in February was $308,970, down 2.5% from $317,049 in January 2009. The average residential sale price in February 2008 was $338,347 in February 2008, $321,307 in 2007 and $211,531 in 2006.
Looking just at Edmonton (as opposed to the entire MLS are) the average sale price of single family homes was $349,740 (down from $361,442 in January '09 and $388,298 in February '08). Condos were $22,912 (down from $237,888 in January and $260,483 in Feb '08).
Now that we've got prices out of the way, lets have a look at the one number that was better than last February – the sales to new listings ratio was 41%, compared to 30% in January and 36% last February. This was due to stronger sales than we saw in January, and fewer new listings than we say last February which is a good sign.
As you can see, new listings are much closer to the normal range than we have seen in almost two years:
Overall there were 1075 residential sales, compared to 730 in January and 1287 last February:
I've create few additional sales charts that give you a good idea of just where these sales are occuring:
More analysis and stats when the final numbers (including inventory) come out in a few days.
