Garneau Edmonton Real Estate

The Garneau Edmonton real estate market has seen it's average sale price per square foot hover in the $320 range over the last 2 quarters.  Garneau is a highly desirable area steps to the University of Alberta campus and tends to greatly outperform the overall Edmonton average selling price per square foot.  This is despite the fact that the average year built of a home sold in Garneau last year was 1929. Buyers are paying for the land value that is very high in Garneau. Many of the lots in Garneau are zoned for future multifamily.  Since I attended the University of Alberta in the early 1990's, I've noticed more and more of the homes I walked by each day have been torn down and condos have been built in their place.  The average sale price of a condo in Garneau in the last year was $294,450.  To put some perspective, the Edmonton average sale price for a condo in 2011 was only $229,524.  So, it costs 28% more for a condo in Garneau than the Edmonton average. For more detailed sales statistics on Garneau including average sale price graphs visit Garneau Edmonton Real Estate

Garneau Edmonton Real Estate

The Garneau Edmonton real estate average sale price per square foot has been very strong and peaked out at $404/square foot in the 2nd quarter of 2010!  Garneau is a strong market, and this is not too surprising considering it's close proximity to the University of Alberta campus.  The last quarter of 2010 and so far in January and February of 2011 has been weaker for Garneau.  Garneau has actually dipped under $300 per square foot in 2011, although this is based on only one home sale this year.

Interested in a comparable market analysis on your home?

Find more MLS® sold information, including graphs, on Garneau in the University area and other Edmonton neighbourhoods here.