Average sales for single-family homes in St. Albert dropped by almost eight per cent last month, compared to July 2013, the Realtors Association of Edmonton reported in its monthly housing bulletin.
Ninety-four single-family homes were sold last month, compared to 102 a year previous, and 93 in July 2012. The average price for singles last month was $450,484. In July 2013, the average price was $447,437.
Condominium sales saw a slight increase last month.
St. Albertans sold 32 condos last month compared to 31 a year earlier. The average selling price was $274,480. The average price for condominiums in July 2013 was $261,405.
The realtors association further reported that the average cost for single-family homes had dropped across the region, down two per cent from June to $426,716. The all-residential average price was down 2.6 per cent from June at $362,091.
Condo prices remained stable in the region. The average price for a condo was $254,654 month-over-month.
Compared to the same month last year, the average price for a single-family home was up 3.9 per cent in the region. The all-residential price was up 3.3 per cent.
“Like the shortening summer days and the appearance of fall fashions, real estate prices begin to soften at this time of year,” said Greg Steele, president of the association.
“Despite the seasonal slide, prices in the Edmonton area are still up when compared to the same month last year. The local market continues to be very active and realtors report having a busy month.”
The average days on market in the Edmonton region was up slightly to 46 days in July as compared to 41 days in June.
