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Condos a hot seller in June in Edmonton

EDMONTON – Condominiums were the biggest price gainers in June for the Edmonton region.
Statistics released Wednesday by the Realtors Association of Edmonton put the average condo selling price for the month in the census metropolitan area at $261,854, up 10.2 per cent from May and 8.7 per cent from June 2012. June’s median price was $242,500, up 6.4 per cent from the previous month and up 6.8 per cent year-over-year.

Single-family dwellings sold for an average of $412,269, down 1.4 per cent from May and up 2.3 per cent from June 2012. The median selling price was $380,000, down 2.0 per cent monthly and up 2.2 per cent annually.

The average all-residential price for the Edmonton region in June was $259,631, an increase of 0.8 per cent from May, and up 4.2 per cent compared to a year earlier.

“Economic conditions in the Edmonton area are generally positive and this is reflected in our local housing market,” said association president Darrell Cook. “Prices have risen slowly through the first six months and there is nothing in our local economic trends to indicate that this period of stability will change.”

The association said single-family home sales of 1,080 in June were off 4.9 per cent from June 2012.

There were 470 condo sales in June compared to 536 a year earlier, but for the year to date, condominium sales were up because of a lack of lower-priced single-family homes, the association said.

The inventory of homes on MLS has increased over the two past quarters to 6,078 properties — still lower than the supply of 6,435 at the end of June 2012.

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