Last year was a banner year for high-end real estate in Edmonton, and this year shows every sign of being another record breaker.
The president of the Realtors Association of Edmonton, Greg Steele, noted recently that, in spite of the predictions of a burst to the bubble that currently exists in the Canadian real estate market, the one in Edmonton shows every sign of being steady and stable.
Last year, the number of homes that sold for a million dollars or more sat at 118, which was well above the 89 sold in 2012. As of September this year, the number of these high-end homes that have sold is already at 116. The highest sale price for one these homes has also risen to $6m from $3.4m in 2012.
The sales number for more modestly prices houses has also increased; it’s up 12% over last year, while the inventory of available properties is down 6%. There is a good blend of houses for sale and people looking to buy, with the most active market being for the one for residences in the $250,000 to $400,000 single family home range, with the average going for $455,000.
This brisk marketplace is also good news for other sectors of the economy, such as service providers. An example of this would be Print companies, which can produce ‘for sale’ Signs, as well as other promotional materials for the real estate market.Get a Free Quote for Signs Get a Free Quote for Print
