The price of a two-bedroom detached house is $302K, a three-bedroom house is $412K, a four-bedroom house is $497K, a five-bedroom house is $528K, and a six-bedroom house is $545K. The condos are more affordable than townhouses and detached houses. The price of a single-bedroom condo is $142K and of a two-bedroom condo is $2242k.
As of 7th April, 9 more properties have been added to the list for sale. Out of these, the number of homes is five, while there is one semi-detached house, one townhouse, and two condos. The property with the highest price is $1,299,999.00. The lowest price of the property is $478,833.22. The average price of sale in Edmonton $99,900.00.
There are 259 active pre-construction developments in the city. With 1405 units currently under construction, there are 64 condos in the developments. There are one hundred and forty-seven single-family houses and thirty-five townhouses in these developments. For a low-rise home, the median price per square foot is $235.
In comparison with March 2020, the total residential units’ sales in the Edmonton real estate market have increased by 109.9 percent in March 2021. There is an increase of 52.8 percent increase in sales in March from February 2021.
The number of new residential properties is adding up year over year in the listings. There has been an increase of 51.6 percent in the listings from March 2020. This increase is not just year over year but months over months. There has been seen an increase of 55.7 percent in the listings from February 2021. If we take an overall look the inventory in the Greater Edmonton area decreased 13.4 percent from the March of last year but an increase of 11.5 percent occur from February 2021.
The single-family home unit sales this march are 118.2 percent more than the March of last year. While there is an increase of 53.5 percent from the February of 2021. There is an increase of 79.6 percent in the unit sales of condos from March 2020 while an increase of 51.9 percent from February 2021.
The average days on the market for a single-family home has been decreased from the March of last year by seventeen days. The average days for the condos on the market are fifty-three and these have been decreased by 13 days from the last year. The average number of days for the duplexes on the market is 39 which are decreased by 29 days from the last year. There has been a decrease of 18 days year over year and decreasing by ten days from February 2021 causing an overall, all residential listings averaged 42 days on market.
Tom Shearer, Association of Edmonton Chair, there is a significant increase in year-over-year residential unit sales as well as month-to-month sales in Edmonton in March.