Edmonton housing market flat for 2011
House prices remain flat in Edmonton defying the national trend, according to a national market survey and forecast.
"Market activity in 2011 started off slow but began to pick-up in May," said Ken Shearer, with Royal LePage Noralta Real Estate Inc. "However, it did not carry through to June.
"It appears as though economic activity, mainly employment, has not yet translated into residential sales."
Condos rose 3.3 per cent to $206,167, while standard two-storey homes rose slightly by 0.4 per cent to $349,286. Detached bungalows decreased by 2.8 per cent to 312,000.
The Royal LePage survey projects the average house price in Edmonton to decrease slightly by 1.2 per cent by the end of year.
Nationally, the average house price is expected to be 7.7 per cent higher at the end of 2011 than it was at the end of 2010.