Condo Prices up in Edmonton in June
After a rather promising May, the real estate market in Edmonton was a bit of a let down in June, the only bright spot being condo prices. Sales of single family homes were down 16% from last June (934 single family home sales were reported).
Condo sales have been sluggish all year and although we saw a bit of a jump in June, condo sales were still lower than the past 8 years. 403 condos were reported sold in June, down 27% from last year.
The average price of single family homes sold in Edmonton was $433,060, down 3% from last June while the median price was down 3.7% to $395,000. The average price of condos was up 4.3% in June to $265,479 and the median price was up 6% to $244,000. As you’ll see below, the cost of condos on a per square foot basis is basically unchanged, so buyers are after larger condos this year.
Single family homes sold on average for $278/square foot, down 4% from last year while condos sold for $245/square foot, about the same as last year.
About Sheldon Johnston
Sheldon is very familiar with the ins and outs of real estate; he has been licensed to sell Real Estate in Alberta for over 25 years. Sheldon has served on the Real Estate Council of Alberta, the Real Estate Insurance Exchange and the REALTORS® Association of Edmonton. Find Sheldon on Twitter @edmontonsheldon.