Statistics released by the Edmonton MLS last week show the average detached single-family home sold in February fetched a price in excess of $400,000.
The crossing of the $400,000 barrier comes as a result of average home prices increasing by 4.3 per cent over the same time last year.
This comes at a time just prior to the usual increase in listings that seems to occur in the spring each year. It is now anticipated by the Realtors Association of Edmonton that sellers who have been hesitant to list their properties may be more likely to enter the market in light of the new, higher average prices.
More than 4,000 homes were listed on the MLS for Edmonton at the end of February, representing an increase of almost 12 per cent over January. Additionally, more than 1000 residential sales took place in the month; representing an 18 per cent increase over January’s numbers.
Condo sales in the area also showed excellent gains month over month with the average property fetching a price of $231,866. This represents an increase over January’s numbers of 7.3 per cent.
Real estate agents and their firms are no doubt enthused by the news of increasing volumes and average prices. Residents should expect to see more agents’ Signs appearing on front lawns around the city.
Increases in business are also expected at local printing companies as flyer printing and brochure printing continues to be a key part of the strategies used by agents to push home sales.
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