Average single-family home prices in St. Albert saw a two per cent increase in November compared to the same month last year, the Realtors Association of Edmonton reported this week in their monthly housing bulletin.
The average selling price of a single-detached home in November was $444,615. A year earlier, the average price was $435,738. The median price for singles in November was $395,000.
Forty-five units were sold in the last month, compared to 48 a year earlier.
The average price for a condo was $235,038, with a median price of $247,000. Thirteen condos were sold in November, with no change from last year.
Cheryl Rolfe, St. Albert ReMax Real Estate Agent, said homeowners should not confuse a rise in average house prices with a change to their house’s worth.
The average price is the dollar amount of all sales divided by the number of sales. The median price is the middle spot between highest price per month and the lowest price per month.
Rolfe said the average house prices in St. Albert changed in November because more higher priced homes were sold compared to other months.
Realtors often see a rise in housing sales at this time of the year because people want to get into new homes before Christmas.
“There seems to be a type of buyer out there who targets homes that have been on the market for a while and is looking for someone who is a little more motivated to sell,” she said.
“They are looking for a deal.”
Rolfe expects the average will fall come December.
