Home prices continue to inch up in Edmonton’s now stable real estate market, according to second-quarter figures.
“For sellers, prices and sales are stable,” James Mabey, Realtors Association of Edmonton chairman, said as the latest numbers were released Thursday. “For buyers, there is some room to be discerning.”
An anticipated increase in interest rates coupled with current market conditions makes it an attractive time to buy or sell a home, he said.
Average sale prices for single-family homes in Edmonton rose to $453,735, an increase of 2.91 per cent compared to May 2017 and up 4.37 per cent relative to June 2016.
And average sale prices for condominiums showed the largest increase. They rose to $260,084 in June 2017, an increase of 3.69 per cent compared to May 2017, but a decrease of 0.66 per cent compared to June 2016.
The average price of duplexes and rowhouses increased to $350,431, a 1.75 per cent jump from May 2017, but 0.68 per cent lower than June 2016.
Mabey said $350,000 to $400,000 is the most popular housing price-point right now in Edmonton.
“I’d say anything over $500,000 right now is taking a lot longer to sell,” he said
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