Major projects help keep Edmonton market stable

“Despite lower oil prices and a lot of negative headlines about the Alberta economy, residential real estate prices in Edmonton actually reached their highest level ever in May of 2015 with the average being $453,748 and the median being $418,950. This result may be partly due to the large construction projects underway in the downtown core including the Rogers Arena, Royal Alberta Museum, several major office towers and multiple condominium high-rises. Currently the market remains balanced, although there are higher than typical listings on the market which means the pendulum could certainly shift to the buyer’s favour. Year over year the median sales price for September remained unchanged at $400,000 in 2015 vs. $399,894 in 2014. Average days on market was virtually the same at 53 vs. 51 while the number of sales was down to 1,462 from 1,673 a year ago.”

Gerhardt Klann, Edmonton, AB - Solidifi EXTRAORDINARY APPRAISER