Edmonton housing market well-balanced: Able to meet reasonable expectations
Edmonton, May 3, 2011: According to the REALTORSÂ Association of Edmonton, the average price of housing remained relatively stable through April as compared to the previous month. The all-residential average price decreased $310 to $327,415; down from $327,725 in March. Single family home prices decreased $425 while condo prices rose $1,305 (0.6%) during the month. Despite the activity the market is balanced without a distinct advantage for either buyer or seller.
`Prices and sales usually increase in the second quarter and REALTORSÂ are busy serving new and repeat customers,` explained REALTORSÂ Association of Edmonton President Chris Mooney. `The increase in new listings means that there is a good selection of homes to choose from. However, the market is still price sensitive and sellers will have to have a realistic pricing strategy if they are expecting a quick sale.`
Residential sales were 1,487 down 7.8%; compared to 1,613 in March. Residential listing activity rose from 2,958 units in March to 3,278 units in April. Inventory of homes on the Multiple Listing Service increased from 6,885 last month to 7,215 as of April 30.
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