Real estate sales dip in February
By: Viola Pruss
| Posted: Saturday, Mar 09, 2013 06:00 am
Average single-family home prices in St. Albert dropped by 6.4 per cent in February compared to the same month last year, the Realtors Association of Edmonton reported this week in their monthly housing bulletin.
Fifty-nine units were sold last month, compared to 63 a year earlier.
The average selling price for single-detached homes was $436,220. In 2012 the price was $473,649.
The median price for singles in February was $414,000.
St. Albertans also sold 12 condominiums, which is down from 19 sales in the previous year.
The average price for a condo was $247,908, with a median price of $235,000.
Both single-detached homes and condominiums spent an average time of 38 days on the market.
The report said that housing markets in the Edmonton Census Metropolitan Area remain active. Residential listings were up ten per cent compared to January and sales increased by 18.2 per cent.
The average price for a single-family detached home was up by 0.3 per cent to $400,973, compared to $399,832 in January.
Condo prices rose 7.3 per cent from January to $231,866.
“Realtors were busier last month than in January both listing and selling more homes,” Association’s president Darrell Cook said in a press release.
“As usual, sales activity will continue to increase as we move into spring. The inventory of available homes has increased and we expect hesitant sellers to come onto the market in the face of continuing strong prices.”
Cook added that consumers were moving to higher priced properties.
Sales of properties priced $425,000 to $550,000 have increased by 19 per cent compared to the first two months of 2012. Sales of properties in the $200,000 to $375,000 range are down by 9.6 per cent.