Edmonton Real Estate Blog

Surprisingly, with forecasts of a gentle increase in prices, the monthly report of the Edmonton Real Estate Board dispelled all those rumors. Single family homes sold for an average of $388,473 [up 4.7% from the previous month and up 11% over March 2009]. Condominium prices were also up 8.4% over February 2010 and 10.5% over March 2009 to an average price of $252,416. The price of duplexes dipped slightly from the previous month but were still 10.4% higher than the same month in 2009.

Residential listings were 30% higher than March 2009. 3,728 new listings were added to the inventory in March 2010 while sales for the month totaled 1,571 [over 50 each day]–a figure which was 15% higher than March 2009.

It seems that home-buyers were hurrying to take advantage of their pre-approved mortgages which boast very low rates. They were also propelled to action by the coming revised mortgage pre-approval rules.

All in all, it seems that Edmonton’s balanced real estate market will be very busy this year.