Edmonton Real Estate Outlook0
Though the US financial crisis is wringing many a property owner’s guts out, the market in Edmonton, specifically of the real estate kind, is coming up roses. Numbers are looking great as Edmonton real estate breaks new ground this month, according to experts.
The current figures from the REALTORS® Association of Edmonton
Single family dwellings have seen the largest increase in sales as prices went down 1.9% from September’s average price of $362,097. The sale of duplex and row homes increased .1% from August while condo units shot up with an 11.7% increase in sales as prices weighed in at $252,234. Residential property, however, reached a low point as sales decreased 1.3% from last month’s sales.
The majority of these figures have in fact portrayed a slow steadying of the market. There are still more sellers putting up properties on the market for only a lesser number of buyers but prospects are good. The slowly stabilizing economy, in spite of the current financial chaos in the US market, has little significant effect on the real estate business in Edmonton. Though the price of real estate property has gone done, sales have increased over the past three quarters that, in effect, has the real estate marketplace in an upswing in today’s standards.
Agents and prospective homeowners are taking advantage of the situation as sales are picking up because of the low cost of property. Buyers see the present economic status of the city of Edmonton as an ideal time to purchase properties. While inflation hasn’t much affected the cost of commodities such as food, energy , and shelter, purchasing properties now can be a sound investment. Though the market is as volatile as the oil or gas that this city is most proud of, things are looking up for people planning to buy property in Edmonton City