Fall tends to be a quiet time for real estate sales in the Edmonton region. But warmer temperatures kept buyers busier, the Realtors Association of Edmonton reports.
Sales for single-family homes in St. Albert in October dropped nonetheless, by almost 20 per cent compared to a year previous, and almost 29 per cent from September.
Fifty-one homes were sold last month, compared to 71 in September. Sixty-three homes sold in Oct. 2013. The average price for singles last month was $429,428 (down $3,339 year-over-year).
Condominium sales increased however, from 14 sales in September to 19 in October. In Oct. 2013, 12 condos sold. The average selling price for a condominium last month was $272,279, down $8,263 year-over-year.
Edmonton region
In the Edmonton census metropolitan area, average residential prices were up 8.5 per cent year-over-year but dropped from September.
Sales for single family homes in October were down 12 per cent from September. In total, 850 homes sold. Prices dipped as well, down 2.3 per cent from September to $426,848 in October.
Condominiums sales continued to grow. Sales went up 2.6 per cent month-over-month at an average price of $260,491. Duplex and row house prices were also up at $352,907.
Realtors association president Greg Steele said the demand for single family homes in the $350,000 to $400,000 range remains high. Inventory continues to be tight though, with only 227 properties available as of Oct. 31.
"We have seen a lot of action this year in houses under $400,000. People may need to adjust their expectations when looking at houses in this range," he said in a press release.
"There is a big demand for properties at this price point and with a light inventory, you may need to wait a bit longer to find the right house for you."
Million dollar homes sell equally well. So far this year, 125 $1 million-plus homes have sold compared to 94 at this same time last year and 75 in 2012.
