Based on this report:
http://www.bmonesbittburns.com/economics/amcharts/feb0807.pdf
Edmonton has surpassed Toronto in average home re-sale values. The report also suggests that the Market will continue in this pace.
What are you thoughts...
Subscribe to:
Post Comments (Atom)
4 comments:
You should check your stats before you post them. The average price of a single family home in Edmonton is $357k but the average price of all real estate in Edmonton is $303k.
You can't compare the price of single family homes in Edmonton to the average overall in Toronto, which includes condos.
The average price of all real estate in Toronto is $353k which is $50k higher than here in Edmonton.
You'd be hard pressed to find a comparable home in a decent Toronto area for the same price here in Edmonton. If you're moving here from Mississauga, etc., it's no longer the windfall it used to be, and you'll get sticker shock like you've never seen before. It totally sucks if you're late for the party and just arrived here within the last six months. Homes have been appreciating at around $10,000 per month for the last year and there is no end in sight. I've tried finding a decent condo for around $220,000, only to be outbid or messed around by real estate agents doing each other favours. Now I'm priced out of the market, so we'll see if it slows down. But if you want a house and you're showing up here with less than $500,000, you're not going to be too happy with what you get. Unless you're in a very desriable area near the lake or other high end Toronto neighborhood, your house in the Golden Horseshoe won't get you a comparable property here. It's crazy insane here in Edmonton and the panic buying is unprecedented. $430,000.00 here in Edmonton gets you a zero lot line house in the middle of nowhere with no backyard.
Check this new Edmonton real estate blog:
http://pricedoutinedmonton.blogspot.com/
This was shocking news for me that Edmonton home prices surpasses Toronto. But hopefully now in present scenario the picture must be different.
Post a Comment