Market Analysis of Condos in Edmonton - October 2011

By
Real Estate Agent with Ralph Henze Homes - RE/MAX Elite
https://activerain.com/droplet/nBR

 Edmonton skyline


 Summary of Sales Activity for Condos in Edmonton and Surrounding Area

October 2011

Realtors® Association of Edmonton


Average Sold Price: $223,892Edmonton condos for sale

Number of Condos Sold: 286

 

Average Days On Market (DOM) of Sold Units: 68

YTD Average Sold Price: $234,058

     (January 1, 2011 - October 31, 2011)

  

 Year to Date (YTD) Summary:


Average Sales Price

Condos - Edmonton Area

Edmonton Condos for sale - October 2011

 

Average Sold Price by Area

 

EdmontonEdmonton condos for sale

Northwest  $90,667

North Central   $188,562

Northeast   $169,563

Central   $252,390

West   $225,976

Southwest   $227.095

Southeast   $247,312

Anthony Henday   $280,373

Overall Average for Edmonton City only  $219,250


Surrounding Areas

St Albert   $263,250

Sherwood Park   $291,117Edmonton condos for sale

Leduc   $243,129

Spruce Grove   $183,500

Stony Plain   $206,500

Morinville   $162,500

Fort Saskatchewan   195,000

Devon   $310,000

 

Overall Average for Edmonton and Surrounding Area  $223,892

 

As you can see from the numbers and the graph, prices have been coming down on condos since late spring. While there has been a good supply of condos, buyers confidence has gone down as a results of global economics.  This has caused the number of buyers to drop.  On average it is taking longer to sell a condo which of course, puts downward pressure on prices. I have viewed a surprising number of vacant condos as owners have moved on before selling their condo.  All this is great for the buyer and our ability to negotiate some nice deals.  That coupled with low, low interest rates create an excellent buying environment!

 

 

 

 

If you are interested in buying or selling a home in Edmonton, contact me at:


Ralph Henze

RE/MAX Advantage

Cell:  780-918-7885

Office:  780-464-4100

email:  ralphhenze@gmail.com

 

www.RalphHenzeHomes.com

 

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Rainmaker
534,030
Tina D Saporito, Your Dedicated Palm Desert, CA Realtor Since 2005
Ronald Christopher & Associates. Proudly serving Palm Desert, La Quinta, Indio, Rancho Mirage, & Palm Springs. - Palm Desert, CA
Call (760)799-8460. www.JustListedinPalmDesert.com

Hi Ralph & Janet - it looks like a good time to buy if you're looking for a condo in Edmonton. Great information.

Nov 23, 2011 09:00 AM #1
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