The news reports there is a downturn in Alberta’s economy; however, Edmonton’s residential housing prices have remained virtually unchanged. For the first quarter of 2016, the realtor’s association is reporting the following:
⦁ Residential Unit Sales Down 6%
⦁ Condo Unit Sales Down 12%
⦁ Eight-day increase in time a residence spends on the market
Despite the decline in unit sales, the median price has remained stable; however, the numbers were bolstered slightly by the sale of two $3-million homes says Steve Sedgwick, chair of the Realtors association of Edmonton. Condo sales have been the hardest hit this past quarter with a 12% decrease in unit sales, despite a 16% increase in the number of condos for sale. Overall, the quarter has seen a drop in residential units sold but, the trend is turning upwards with 1,300 homes being sold in March – almost 63% more then the previous month. If you wish to read more of CBC’s article please click HERE.
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Article from CBC NEWS by Mark Blinch/Reuters
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