St. Albert realtors are cautiously optimistic that the stable market of the past few years is starting to pick up steam.
First-quarter statistics from the Edmonton Realtors Association show that so far this year 182 single-family dwellings sold in St. Albert. That compares to 146 sales in the same three-month period in 2011 and 165 in 2010.
A total of 45 condos sold this year compared to 53 last year and 73 condos in 2010.
"I think it's picking up," said Re/Max realtor Jill Thomas. "It's an attitude driven market and I have clients who are telling me that their businesses are starting to boom and excitement is starting to build."
Thomas also referred to projections about more workers moving to the province and anticipated that those new residents will be searching for homes.
Homes are selling slightly more quickly too. The average number of days on market for March was 53. That compares to the summer months last year when most St. Albert homes were listed for a full two months before selling.
The average selling price for a single-family home in St. Albert was listed at $430,035 in March. Last year the average March selling price was $415,064. But Thomas stressed that the average price may be skewed because several higher-end homes sold.
"There isn't much inventory in the average-home category. And though the market has picked up, with more sales, prices have not moved yet. Prices in some cases are down," Thomas said.
In the greater Edmonton area market year-to-date there were 8,328 listings compared to 7,619 the year before.
"It looks like there's more interest in the market. The most active price range in St. Albert is between $300,000 and $350,000. That price level gets a lot of attention," said James Mabey, broker/owner for Sutton Nor/Vista Realty.
Local military personnel have just received new postings and that will influence home sales in this area too, Mabey said.
Presently there are 143 condominiums listed for sale in St. Albert, but that's unusual, Mabey said.
"There are more condos on the market now because of the new Tenor on the River properties. We don't usually see a whole building on the market in St. Albert," he said.
In the metropolitan Edmonton market condominium prices were up 2.23 per cent overall.
St. Albert Single Family Dwelling Sales for March
Price Range # of Listings #Sold
Under $300,000 9 5
$300,000-$400,000 59 35
$400,000-$500,000 45 22
$500,000-$600,000 24 12
Over $600,000 29 8
– Courtesy of James Mabey
