Average price for Edmonton home is $350,000

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Average price for Edmonton home is $350,000
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By Bill Mah , edmontonjournal.comApril 2, 2009Comments (7)
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6 G& q" O3 P5 s; m% @. |  For Sale signs in Edmonton.Photograph by: Ed Kaiser/Edmonton Journal, Edmonton JournalEDMONTON — The average price of a single family home in the Edmonton area hovered around the $350,000 mark for the first quarter of 2009, according to Multiple Listing Service statistics released Thursday by the Realtors’ Association of Edmonton.

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% [. W) o, t% f6 X( EAt the end of March, the average single-family dwelling price was $349,716 – down 9.8 per cent from the same time last year. Condominium prices were a little more volatile, popping up 1.6 per cent in March to $230,469, after a five-per-cent drop in February.
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The average condo price in March was down 12.4 per cent from the same time last year.
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Association president Charlie Ponde said both single-family and condo prices have settled on a four-month price plateau.
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/ O" Z* a: M8 s* o: q8 ^4 W# zThat shows prices are stabilizing after dropping steadily from their peaks in mid-2007, he said.
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5 z: n; H5 i$ P& i4 w8 m“Overall, prices have dropped gradually in an orderly market,” Ponde said. “We are now in a four-month plateau period.”
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Residential sales for the year totaled 3,185 units down 28 per cent from the same time last year. “But the pace is picking up,” Ponde said. “With price stability, low interest rates, spring weather and pent-up demand, it appears realtors are starting to get busy again.”

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) o" U9 z+ h) \0 `Residential sales in March rose 28 per cent over February.

bmah@thejournal.canwest.com
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