October Home Sales in Edmonton Gain MomentumPosted by Yoofi Gerard Hagan on Thursday, November 15th, 2012 at 7:16pm.
Single family homes, taken on their own, came in at an average of $371,061 per unit, which is 2.9 percent higher than October of 2011. Condos saw an increase of 5.4 percent this October, coming in at an average price of $234,177 per unit. Row houses and duplexes, coming in at an average of $305,777, were the only home types to see a decrease in price. They were 1.1 percent less expensive than in October of 2011.
The realty association noted that prices for October 2012 were the highest seen for that month in the last five years. Doug Singleton, associate president of the organization, noted that homebuyers can expect a number of small but steady price increases in the near future. He also noted that the average number of days a home stays on the market is perfectly reasonable.
October of 2012 saw 2,228 new listings of residential properties on MLS, and a total inventory of 6,406 properties. That is a 7.9 percent decrease from September of 2012. The properties averaged 61 days on the market with a listing ratio of 62 percent.
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