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Median price for Single Family Homes highest in five years in May – REALTOR® Prez #yeg #yegre

To really understand most stories, you need to start at the beginning. To get a clearer understanding of the story of home prices in Edmonton, sometimes it’s best to look at the middle. The median price of homes is the middle ground between the lowest price and the highest. In May, the median price for single family homes in Edmonton reached its highest point in the last five years! Half of the single family homes sold in May were under $370,000, while half were over that sum. Back in 2008, the median was $365,000. This shows a trend upward in prices in the market. Right now in Edmonton, more higher priced homes are selling. In the Condo market, the median at $232,000 is lower than the 2008 median of $250,000. This suggests that in single family homes, it’s the higher end attracting interest, but in Condo’s the more affordable options are getting the most attention. So which end of the median does the property you’re trying to sell fall into? Which side suits your budget as a home buyer? Are you in the right range? Your local REALTOR® is smack dab in the middle of what’s happening in Edmonton real estate, and will help you make sense of it. Your REALTOR® is here when life happens.

 

http://raeinfo.posterous.com/median-price-for-single-family-homes-highest

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