Spring thaw in Edmonton house market
EDMONTON — Edmonton`s resale housing prices, listings and sales all posted double-digit increases in March compared with a year earlier, according to figures released Tuesday by the Realtors Association of Edmonton.
Buyers trying to beat higher mortgage rates, a seasonal surge and an improving economy heated the market in March, said association president Larry Westergard.
"We`re back from where we were in 2008 into 2009 where the market really corrected based on what happened globally, back to where it should be for what the Alberta and Edmonton economy is demanding for houses," Westergard said.
Single-family homes in the Edmonton area sold on average for $388,473 in March -- up 4.7 per cent from February and 11 per cent over March 2009. The median, or midpoint, sale price for a single-family house was $364,000, up 9.2 per cent from March 2009.
Condominium prices rose to $252,416 in March. That`s up 8.4 per cent month-over-month and 10.5 per cent year-over-year.
Duplex and row-house selling prices averaged $313,836, down a third of a per cent from February, but still up 10.4 per cent from a year ago.
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