 鲜花( 17)  鸡蛋( 0)
|
Average price slips as fewer people moving to Alberta, realtors association says) E5 s. g& I$ U6 K" n) r
Bill Mah, The Edmonton Journal
$ Q8 `1 P0 Z: m |Published: 1:31 am
- a8 j5 G; O8 mEDMONTON - The buyer still reigns in Edmonton's housing market, where the number of homes for sale has skyrocketed by 268 per cent from a year ago.
& z; P1 ^+ p% k: r1 [5 o; X6 {
" o, h8 } }: X: o) v7 x) J/ B! cFigures released Thursday by the Realtors Association of Edmonton show there were 9,464 residential properties available in the city area -- up by a whopping 1,220 homes from February.
5 b' X: B8 K# N" c5 x( |$ s
, V* \) ?, w9 N/ R; G3 k9 OThat's the third-largest inventory in Edmonton history. Only last September and October were there more homes for sale at month's end, 9,918 and 9,577 respectively.
! D! ~" l+ b9 w- N7 g) ^6 C0 J) W7 J- ~6 x ]( w1 F3 A
8 Y1 ~+ j; A6 a) `! F6 Q
Association president Marc Perras said the inventory, about six month's worth, stems largely from fewer people moving to Alberta.
9 Y% ?& p' u d$ T! k
( c: }. A" s7 ^7 ~5 v/ P. V" m0 O+ TNet migration to Alberta last year was 27,048. That's down significantly from 74,523 who moved here in 2006, according to Statistics Canada data.7 {6 o. z: O W) W
7 C/ ?$ o, k( _7 V"We had an industry that ramped up, expecting that those numbers would keep up and now, as a result of that drop-off, we've seen inventory numbers come up fairly significantly," Perras said.
1 I- t% Q7 M% N1 n7 p$ u" |& w0 y1 O5 p! E! ^ Z
He predicted home prices will increase by the year's end as inventory drops and called the current situation a "stable, normal" market.
! b! }# `; W* l5 q0 a! ?6 I1 K8 Q- ]+ X( o6 _) ]0 C; F( [
"Our sales volumes are similar to what we saw in 2004 and 2005 and our prices are essentially flat.. S/ w" v; k' i! E4 a6 |$ |: j
# [) w& ?) e% \- ^& g) h3 i"We saw quite a roller-coaster ride last year when prices jumped up significantly in the first six months and fell off significantly in the last six months."
: {4 X! Z$ N' S! G0 v- r$ _
- W! D0 W! f4 A; wA single-family home sold in March for an average price of $387,632, down 2.7 per cent from March last year." ?. q( n4 X7 E9 D! ?7 f ]( P5 Z
. _! E m) l" _' M7 y7 Y# VBut the average residential price -- including single-family homes, condos, duplexes, mobile homes and others -- was $343,760, 5.66 per cent higher than March 2007.
: _& C% d0 W f- O8 }5 r* K2 r& ^& t; D# Q
There were 1,557 residential properties sold in March with new listings of 4,236 for a sales-to-listing ratio of 37 per cent. Homes spent 51 days on the market, down one day from last month.% W+ Y' y: w# @' [) C3 Z" j
% C9 a, {7 m9 U- k: M( t F1 } m/ H
Total MLS sales in March dropped 31 per cent from a record-setting pace in March 2007.0 x1 B) b- c9 k4 b
8 y1 j8 |9 a# t% c% j: B0 Y$ ]Meanwhile, a house price survey released Thursday by Royal LePage Real Estate Services says Edmonton-area houses became more affordable in the first three months of 2008.3 |& ?0 K: q S" B( ?: R' g. B9 u o
3 W( _" j4 c/ R) TThe study looked at certain local markets examined and found the average price of a "standard two-storey home" fell 3.7 per cent to $363,707.8 U/ p6 u1 G6 D3 t. d1 B
9 _/ w- _4 d) z. l' J2 [3 nThe price of detached bungalows fell 4.9 per cent to $330,000 from the same time last year. Standard condo prices also fell 7.7 per cent year-over-year to $235,000, said the LePage study.
$ @/ k7 N; r" W/ A
4 k% I$ }0 a% x7 Q9 `& ?# ?+ T* mKen Shearer, a Royal LePage broker and owner, said debate over energy royalties kept house prices lower.! s: G/ N% A& l# @8 G" y6 }
9 }0 l/ w7 e( X. s( X"As a result of this debate, the market has receded from the wild pace it experienced last year as buyers are simply no longer interested in paying skyrocketing house prices," he said.
& f8 l9 L: v( z
9 o q3 N4 ]6 }0 X9 y' A2 qAccording to the report, prices varied by specific market in the Edmonton region. Here are some highlights:. Q% @0 a F# Y7 m7 ~. `
2 K- [2 U5 m1 T$ G& s) I) y' C
Sherwood Park: Average prices for two-storey homes dropped by 7.1 per cent to $390,000, while detached bungalows and condos were unchanged from last year.
! D* ]3 t" `8 c7 r @! A. m8 n% ]; y8 F; e
Spruce Grove: A two-storey home rose 6.9 per cent to $405,000 year-over-year.$ C8 H8 k! L, k+ C: P [- n
5 D+ g# _$ U* @; F" L2 ]$ ]/ D: n) mRiverbend/Terwilligar: A two-storey property rose by 12.7 per cent to $410,950 over the same time last year. The average price of a detached bungalow rose by 2.6 per cent to $390,000, while condo prices dropped by 10.6 per cent to $235,000.
, n0 `# |* M- i* k) @% Z& ~1 ]4 |3 E1 e6 y) f9 h" g- {
Leduc: Average condo prices rose by 9.1 per cent to $240,000 year-over-year. Two-storey house prices dropped by 7.5 per cent ($310,000.)
+ z7 a: q$ n6 F- X. u$ m3 ^( B+ W6 [) R6 q; |
St. Albert: The average price of a two-storey home fell by 12.8 per cent to $340,000 while detached bungalows dropped by 12.3 per cent and condos by 13.3 per cent.
2 v, V# b6 p7 g0 gCastle Downs: Average detached bungalows fell by 18.6 per cent to $285,000. Average two-storey homes went down 11.4 per cent to $350,000." H4 P3 f; r, l# Q
# Z; s! l( b1 R# U# b) P' JClareview: Detached bungalows decreased by 8.8 per cent to $310,000, year-over-year. Condo prices fell by 16 per cent to $210,000 from the same time last year. |
|