470 single family homes sold through the MLS® system in Edmonton in January, up from 450 last year and 361 last month. That is the highest number of single family home sales in January since 2008.
Edmonton Single Family Home Sales
Condo sales were also higher than normal in Edmonton in January. 259 condos sold in January compared to 184 last year and 200 last month.
Edmonton condo sales
The average price of real estate in Edmonton was lower than last month, but up from last January. The average sale price for single family homes was $386,882 in January, up from $362k last January but down from $402k last month. Really, last month was what was unusual and we expect prices to increase from here into the spring. The average sale price for condos was $217,136 in January, up from $210k last year but down from $222k last month.
Edmonton real estate prices
The average price per square foot for single family homes was $254 in January, up from $249 las year but down from $258 last month. Condos were $216/square foot up from $210 last year but down from $221 last month.
Price per square foot
As always this is our preliminary report on the Edmonton real estate market, our final monthly report on the greater Edmonton area will be posted when the numbers are released by the REALTORS® Association of Edmonton.
About Sara MacLennan
Sara MacLennan is the Director of Marketing at Liv Real Estate and a licensed Real Estate Associate. The bulk of Sara’s experience and wealth of expertise lies in on-line technology and marketing both for agents and consumers. Sara is the former National Director for Interactive Marketing for Coldwell Banker Canada where she was responsible for an extensive training program traveling to offices across the country training agents and brokers on marketing and technology. Find Sara on Twitter @edmontonblogger.
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Sara it is really great the percentage of sales is increased in Edmonton since 2008. What is MLS® system, i didn’t hear it before. Is it a software or some one association?
Things are looking good, I think this will be a stronger year than 2012.
Prices still falling per square foot.
Yup, but higher than last year at the same time. Historically, ppsf hits it’s low in January.
Either you can’t read or can’t do math. Price per sf went up 2% YOY. Almost the same level of mortgage interest rate. I.e. you live in the house for free, and save rent.
That could be more of a sign of the type of housing product that is selling (smaller singles, more semi-detached) versus aggressive price decreases. The new mortgage rules have had an impact on the type of housing that people can afford. This is why we’re seeing semi-detached and row housing becoming increasingly popular with new buyers. In new communities developers are building smaller 24 foot pocket singles with attached garages. It’s all about affordability right now.