The results are in and the numbers are promising! Total residential sales of 2,161 made May 2009 the strongest month in two years! Sales have not crossed the 2,000 mark in any month since June 2007! This is cause for celebration for Edmonton property owners. Further to that, the Realtor Association of Edmonton announced today that the average sales price was up by 4% in May compared to April. Single family homes sold with an average price of $367,672 which is just 4% lower than the average price in May 2008. The median number tells the story more clearly. The median is the middle figure in the list of all selling prices, and is more indicative of actual sales prices than the average. The median sales figure for May 2009 was $342,500 vs $337,000 last month and $365,000 in May 2008. This indicates an increase of 1.6% compared to last month, and a decrease of 6.2% compared to twelve months ago. And the inventory of homes for sale has held very steady over the past three months at approximately 7,500. Whether you look at the inventory levels or the average or median price, the trends are looking good. The truth is in the numbers, and the truth is that the sun is shining on the Alberta economy. It’s great to live, work and own property in Edmonton!Contributed by Kathy Schmidt, Broker Owner of Schmidt Realty Group Inc.
