Home sales up in February
Regional housing market remains active
Saturday, Mar 15, 2014 06:00 am
Average sales for single-family homes in St. Albert grew by 12.5 per cent in February, compared to the same month in 2013, the Realtors Association of Edmonton reported in their monthly housing bulletin.
St. Albertans sold 63 single-detached homes last month, compared to 56 in February 2013. The average selling price for singles was $483,648. In 2013 the price was $429,640. The median price for single-family homes in February of this year was $445,500.
Condo sales remained the same with a slight increase in the average price.
Twelve condo sales took place last month and in February 2013. The average selling price was $258,497 with a median price of $231,000. The average selling price for St. Albert condominiums in February 2012 was $247,908.
The Association reported that the housing market in Edmonton remained active throughout the month of February. Residential listing activity was up 7.3 per cent as compared to January. Sales increased by 24.4 per cent, with the all-residential price rising by 2.9 per cent in a month.
Single family detached homes were up by 2.7 per cent. This included eight properties that sold for over one million dollars. The average price for single family homes was $425,782.
The average condo price was also up in February by 1.6 per cent from January, to $238,854, with a median sales price of $224,750.
Greg Steele, president of the association, said sales activity will continue to increase through the spring. At the end of the month, the association registered 3,906 residential properties listed, reflecting a 10.4 increase from January.
“The inventory of available homes has increased in all price categories and we expected numerous informed sellers to come onto the market in the face of continuing strong prices,” he said.
He added that people are more confident in the local economy and a shortage of lower priced homes is “moving consumers to consider higher priced properties if their budgets allows.”