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Derek Hulewicz
12650-151 Avenue, Edmonton, Alberta
P: 780-220-4224
F: 780-457-2194

Tuesday, July 5, 2011 - Edmonton Real Estate Market Update For June 2011

Edmonton home prices, inventory and number of sales were stable in June of 2011.

Single family homes were up 0.31% from $378,239 to $379,409 while condos have dropped from $239,782 to $231,852. Duplex and row house prices were up slightly from $295,334 to $296,689. There were total of 1,768 residential sales in June with 3,260 listings resulting in a sales-to-listing ratio of 54%. This is compared to 53% in May. Average days-on-market increased to 53 from 50 while the inventory also increased from 8,180 to 8,432 properties for sale.

Economic and other external indicators point to a strengthening of the local real estate market according to the REALTORS® Association of Edmonton.

Statistics Canada reported that Alberta boasted the highest spike in population in the first quarter with a 0.4% increase.

The Conference Board of Canada predicts that housing prices in Edmonton will increase from five to seven percent in the short term although local prices are currently down when compared to last year.

Although the Bank of Canada seems reluctant to raise interest rates because of the negative impact on exports, CMHC reports that Canadians are budgeting for an interest rate hike.

While housing prices nationally are up by 8.6% (May figures) Edmonton prices are tracking predictably in a stable market.

CIBC is of the opinion that Alberta home prices are over-valued by 17% yet RBC names Edmonton amongst the most affordable major metro markets in Canada.

A report by Peters and Co. forecast that $180 billion will be spent on new oilsands projects in the next decade with current oilsands operations and maintenance adding another $30 billion a year.

edmonton single detahced homes selling price june 2011

edmonton condos average selling price june 2011

number of residential sales edmonton real estate june 2011

edmonton real estate inventory grath for june 2011

edmonton average days on market graph for june 2011

posted in Edmonton Real Estate Market Update at Tue, 05 Jul 2011 20:29:57 +0000

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Data last Updated: 2020-07-03 at 21:32:06 GMT America/Edmonton
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