Edmonton Real Estate Is Booming!
Edmonton Housing Prices Are Up!
Listing Prices Are Up!
And Sales Are Up!
March marked a busy, yet productive month for the Terry Paranych Team. We have continued to exceed our targeted expectations. We feel very optimistic about the market both for Edmonton Home Buyers and Sellers for the month of April.
The stats and commentary from the Edmonton Real Estate Board also reflect well:
“Housing figures released by the REALTORS® Association of Edmonton for March and the first quarter of 2010 show that resale housing prices are up; listings and sales are up.”
Edmonton real estate saw that “Single family residences in the Edmonton area sold on average* for $388,473 in March which is up 4.7% from February and 11% from a year ago. Condominium prices rose by 8.4% month-over-month and 10.5% year-over-year. The average condominium sold for $252,416 in March. Duplex and rowhouse prices (at $313,836) dropped a third of a percent in March but were up 10.4% from a year ago. The average residential price was $343,607 (up month-over-month by 8.5%).
Sales also demonstrated the optimism of the marketplace. 3,728 residential listings in March were up over 30% from a year ago and up 246% in the first quarter. Residential sales of 1,571 properties in March were up 15.1% from a year ago and 77.3% in the first quarter. Sales were up from 1,307 in February: a 20.2% increase. The March sales-to-listing ratio was 42%; down from 52% in February.
All major banks raised their fixed mortgage rates in late March and the Bank of Canada has warned that interest rates will rise again after the second quarter. Many buyers are hurrying to lock in rates and find a home before the more stringent qualification requirements for mortgages come into effect on April 19. Alberta will not be influenced by the GST harmonization taking place in Ontario and BC so we may not see the sales slump in the second quarter that is expected in those two provinces.”
The average days-on-market in March was 41 as compared to 47 in February.
Highlights of Edmonton’s MLS® activity
| March 2010 activity |
Record for the month* |
% change from
March 2009 |
| Total MLS® System sales this month |
1,744 |
16.50% |
| Value of total MLS® System sales – month |
$539 million |
28.90% |
| Value of total MLS® System sales – year |
$1.25 billion |
24.10% |
| Residential¹ sales this month |
1,571 |
15.10% |
| Residential average price |
$343,607 |
11.70% |
| SFD² average selling price – month |
$388,473 |
11.00% |
| SFD median³ selling price |
$364,000 |
9.20% |
| Condo average selling price |
$252,416 |
10.50% |
¹. Residential includes SFD, condos and duplex/row houses.
². Single Family Dwelling
³. The middle figure in a list of all sales prices
* Average prices indicate market trends only. They do not reflect actual prices, which may vary. To learn more, contact the Terry Paranych Team.
We are also pleased to announce that a new team member has joined the Terry Paranych Team. Liz Gray will make a fantastic addition to the team.
Whether you are looking to buy Edmonton Real Estate or sell your Edmonton home, the Terry Paranych Team is here to find you the best deal or get you the best possible price for your property.
The Terry Paranych team is excited to announce that Paranych TV is now live! Get up-to-date information on Edmonton home buying and selling, interviews with Terry Paranych himself and more!
We all know the maxim of Edmonton real estate – location, location, location! It’s no wonder that 
