Alberta: Housing Market Continues Strong

Oct 01, 2013

In Edmonton, the average single-family dwelling sold for $416,494 in August, up 1.5% from July and up 5.4% from August 2012, according to statistics released by the Realtors Association of Edmonton. Rental vacancy rates are low at about 1.2%, new home starts are up and weekly take-home pay rates are the highest in Canada. It takes an average of 53 days to sell a home in the capital city.

Calgary’s red-hot housing market continued to sizzle in September as MLS sales and prices followed an upward trend. According to preliminary data by the Calgary Real Estate Board, total MLS sales in the city of 1,923 during the month were up 19.44% from a year ago. The average sale price rose by 8.27% to $454,352. Days on the market to sell fell from 45 a year ago to 36, which represented a 20% decline.

Job creation and in-migration are said to be fuelling the current market.