Average sales for single-family homes in St. Albert dropped by only 4.6 per cent in October compared to the same month last year, the Realtors Association of Edmonton reported this week in their monthly housing bulletin.
St. Albertans sold 62 single-detached homes last month, compared to 65 last October. The average selling price for singles was $430,070. In 2012, the price was $442,086.The median price for single family homes in October of this year was $422,500.
Condominium sales remained the same as in October 2012.
Eleven condo sales took place last month. The average selling price was $283,318 with a median price of $280,000. The average sales price for St. Albert condominiums in October 2012 was $223,386.
The association also reported that Edmonton’s unemployment rate had dropped by one per cent in September from 5.2 per cent in August 2013.
City of Edmonton economist John Rose said these numbers demonstrate that the city has become one of the most attractive locations for individuals to seek work and find new homes.
“The first time buyer or young person moving into this market will often choose a condo because of the lower price point,” added association president Darrell Cook. “About 60 per cent of all condo sales are under $250,000 and that represents 17.6 per cent of all residential sales.”
In Edmonton, the average price for a single-family dwelling in October was $397,613, up 2.5 per cent from last year. An average condo sold for $235,680, up 2.1 per cent from last year.
Average days on market for homes in the Edmonton region were 54, down from 60 last year.
