by qmylesb
12. November 2010 10:08
Month-over-month price drop brings properties to 2009 housing price levels
Edmonton, November 2, 2010: Although the all-residential average price dropped 3% in October, average prices are almost exactly what they were a year ago. Single family dwellings were sold on average for $365,691 which is just $1,434 less (-0.39%) than October 2009. Condos sold in October for about $2,000 less (-0.9%) than a year earlier at an average price of $235,893.
“Stability is the key word for the Edmonton housing market,” said Larry Westergard, president of the REALTORS® Association of Edmonton. “Prices this fall are matching almost dollar for dollar with prices for the past two years. But I am pleased to report that the inventory dropped 10.6% in October, and as it returns to a more normal level, prices will start to move.”
The average* all residential price in October was $317,422 as compared to $327,235 in September. It was less than one percent lower than the October 2009 price of $320,184. Listing activity continued to slow with just 2,269 residential properties added in October. There were 1,077 residential sales for a sales-to-listing ratio of 44.5%. Total residential inventory was 7,689 properties at the end of October as compared to 8,602 the month prior. The average days-on-market went up to 60 days from 56 last month.
The all-residential median price rose from $306,500 in October 2009 to $308,000 last month. “This rise in the median price stretched the range of the lower end of the market,” said Westergard. “Yet REALTORS® still found 529 properties priced under $300,000 for buyers with smaller budgets or modest housing needs in October. There is still a home suitable for every buyer in this market.” There were 32 sales of residential properties priced at over $750,000 during the same month.
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by support
11. November 2010 08:45
Million-dollar homes are the most affordable they've been in years. In fact, $600,000 is the new $1 million, according to Alex Villacorta, senior statistician for Clear Capital. Here are 7 smoking deals from around the country.
1 of 7
Palm Springs, Calif.
Price: $1.15 million
Discount: 28%
Description:When this modern Mediterranean was built in 1946, Palm Springs was in its golden age, with Hollywood celebrities flocking to the city.
This 5-bedroom, 5.5-bath house went through a complete remodeling in the 1980s and has since been well maintained. The 4,600-square-foot home's most dramatic feature is a solarium with a full bar and 45 feet of sliding glass that opens onto the garden and pool. There's also high ceilings, a maid's quarters, a guest house, and mountain views.
A few years ago, a large, well-built house like this would have sold in the $1.5 million to $1.6 million range, according to agent Ben Leaskou but the housing bust has taken the price down to a very reasonable level.
Full Info: http://money.cnn.com/galleries/2010/real_estate/1011/gallery.million_dollar_bargains/index.html
For further information: Trulia
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by support
11. November 2010 08:29
Knowing what your home is worth is important information to have if you are thinking of selling your home.
Using the information you submit to us in the form below, we will conduct a thorough comparative market analysis by searching the database of all homes listed or sold in your area.
With this current market data, we will be able to determine what your home might sell for if you decided to put it on the market.
There is no cost or obligation for this valuable service.
For a FREE Home Evaluation, please fill in the information requested. To ensure prompt service please make sure you correctly complete all the contact information, so your request can be verified.
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