After months of lack-luster sales and falling prices preliminary figures show that condos performed better in February than single family homes. The average sale price for condos in Edmonton dropped from about $240k in September to $216k in January, but rebounded in February to $230,905. Single family homes meanwhile were unchanged from January at $361,527:
Edmonton real estate prices
On a price per square foot basis both types of properties increased in February - condos went from $215/square foot in January (the lowest its been in two years) to $223/square foot. Meanwhile single family homes sold on average for $250/square foot, up from $248 in January but down from $258 last February:
Edmonton home prices per square foot
Sales of both condos and single family homes were below average and lower than last year, but condos were slightly ahead of the low year of 2009, while single family homes were right on par:
Edmonton Condo Sales
Edmonton home sales
As always, these numbers represent MLS® sales for the city of Edmonton only. When the REALTORS® Association of Edmonton releases their final tallies we will post our monthly report for the greater Edmonton area (likely tomorrow).
Last chance for the 5-35 mortgage.
The race is on for “buy now before the new mortgage policy takes effect.”
I was surprised when condos dropped in the first place. I think the new mortgage rules definitely had something to do with the uptick.
Would be good to see graphs from the last five years illustrating inventory levels. This would help in forecasting.
Impressive! We do not have the same activity in the Louisville home market.