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Housing prices and sales increase in April
% g+ i/ m7 I" ?: |& V+ g Edmonton, May 4, 2009:Sales activity on the Edmonton Multiple Listing Service® increased inApril as compared to last month and April 2008. There were 3,019residential properties listed in April with sales of 1,843 (up 33.6%from last month and 1.1% from April 2008).! o$ ~: Y7 [& ~7 ?2 j
The average* price of single family homes in the Edmonton area wasup 1% from March but, at $353,386, was still 8.5% below the last Aprilprice of $386,033. Condo prices were up 2.4% from last month to$236,020 while duplex/rowhouse prices were up 5.2% at $291,068.
0 Q1 E5 |; m. [1 |& \: S X2 _ “Increasedsales activity is evident in most real estate offices and someREALTORS® are reporting multiple offers on select properties,” saidCharlie Ponde, president of the REALTORS® Association of Edmonton.“However, inventory is still relatively high and sellers should pricetheir properties aggressively to attract offers.”
, Q( v* y3 D! N" }/ ^ Thenumber of residential properties available through the MLS® System onApril 30 was 7,539 – up 1% from last month but well below the glut inApril last year when there were 10,606 properties available. Theyear-to-date sales-to-listing ratio is just 46% but the April S/L ratioof 61% is an indicator of increased activity. Average days-on-market inApril was 51 – a number last seen in March 2008.
4 F) X$ j) ~& S& }% Q “REALTORS®are optimistic about the Edmonton market,” said Ponde. “In-migrationfigures are positive, retail sales in Alberta are still higher than therest of the country and unemployment figures are lower than other partsof Canada. First-time buyers are entering the market because ofhistorically low interest rates and renovation incentives areencouraging move-up buyers to consider relocation.”+ J' S3 U3 |6 w, d# W$ x
Totalsales through the MLS® System for the month were valued at $635 millionwith a year-to-date total of $1.75 billion. Total YTD sales value isdown 23% from the same time last year but sales are off by just 16%.
- R( X" ?) e+ \' Z# o6 f+ p -30- Highlights of MLS® activity 3 d+ a% {/ [1 V" B
April 2009 activity | Record for the month* | % change from8 z( O$ a; P8 c5 f7 Z
April 2008 | Total MLS® System sales this month | 2,008 | -1.90% | Value of total MLS® System sales - month | $635 million | -9.00% | Value of total MLS® System sales - year | $1.7 billion | -23.00% | Residential¹ sales this month | 1,843 | 1.10% | Residential average price | $312,127 | -7.40% | SFD² average selling price - month | $353,386 | -8.50% | SFD median³ selling price | $337,000 | -1.00% | Condo average selling price | $236,020 | -8.10% | ¹. Residential includes SFD, condos and duplex/row houses. 2 t6 v, Q0 j3 v
². Single Family Dwelling( o( s3 }! t- w
³. The middle figure in a list of all sales prices " c+ f& w& n; {" z$ |4 q
*Average prices indicate market trends only. They do not reflect actualprices, which vary from house to house and area to area. Forinformation on a specific area, contact your local REALTOR®.
* M u) ]! S7 C0 x( [ Contact3 C, O' V" m: z+ Y, r
Charlie Ponde | REALTOR®, 2009 President | Bus: 780-460-8558 | Ron Hutchinson | C.A.E., Executive V.P. | Bus: 780-453-9340 | Jon Hall | C.A.E., Manager Communications | Bus: 780-453-9323 | The REALTORS® Association of Edmonton (EdmontonReal Estate Board), founded in 1927, is a professional association ofBrokers and Associates in the greater Edmonton area. The Associationadministers the Multiple Listing Service®, provides professionaleducation to its members and enforces a strict Code of Ethics andStandards of Business Practice. The Association also advertisesproperty listings and publishes consumer information on the Internet atREALTOR.ca and ereb.com, as well as in the Real Estate Weekly and ontheir web site at rewedmonton.ca. REALTORS® support charities involvingshelter and the homeless through the REALTORS® Community Foundation(RCF). |
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