[CMD UW]

House prices continue to rise in major markets
Canadian Press

TORONTO — Canada's housing market got off to a strong start in 2007 with average prices rising in all major markets, according to Royal LePage Real Estate Services.

It says a combination of consumer confidence, moderately low interest rates and improved affordability led to greater sales in the first quarter.

Royal LePage says the highest average price appreciation was in standard condominiums, which rose 16.3 per cent to $230,146 year-over-year.

Detached bungalow prices rose 14.9 per cent to an average $316,993 and standard two-storey properties increased 11.8 per cent in price to $378,148.

Fuelled by the energy sector, Alberta's economy continued to show extremely high price appreciation and that spilled over into Saskatchewan. Year-over-year condo prices rose 72.1 per cent in Edmonton, 38.9 per cent in Calgary and 42.9 per cent in Saskatoon.

Royal LePage says more moderate increases were noted in the central and eastern regions of the country.


Good year to be a condo owner in E-town...wow.

[itom 987]

Year-over-year condo prices rose 72.1 per cent in Edmonton

My jaw droped when I saw that on the news!

[JBinCalgary]

thats insane

[Calgarian]

not sure if that is a good or a bad thing for the chuck. 72.1% is INSANE!!!

[Coldrsx]

im happy i own a condo, just wished i had bought 2 of them in 03'.

fyi my 770sqft bought for 151,000 is now 300,000 ish...

[SHOFEAR]

im happy i own a condo, just wished i had bought 2 of them in 03'.

fyi my 770sqft bought for 151,000 is now 300,000 ish...


Just be glad you bought when you did...me on the other hand. http://www.universalsims.com/Forum/style_emoticons/default/blackeye.gif

[CMD UW]

Yea, timing is everything. I bought my 2 bdrm, 2bath 1030sf condo last May for $172,500 and could easily sell for $300,000.

[m0nkyman]

Hmm. Wonder what my bungalow on 104th Ave at 120 St, DC2 zoned for a four-storey no-setback condo would be worth today?

[Coldrsx]

^how many sqft is the land?

[m0nkyman]

^how many sqft is the land?

50x150ft. (http://www.edmonton.ca/ZoningBylaw/DC2/200/DC2_268.htm)

[big W]

Well guys just so you know I bought my unit for just under 300K and 6 months later units in the building (the same as mine) are listed for 385K

[JAH]

I got my duplex in MacEwan last April for 245,000. Its now going for 380. My current millwoods townhouse i bought 2 yrs ago for 130 is now worth about 275.

[Doug]

I should have kept my condo on Sask Dr. I paid $89K for in 1994: 1,800 sq ft, three bedroom with River Valley view.

[240glt]

My 1000 s.f. bungalow in Alberta Avenue was appraised by the bank recently @ $270,000... I bought in the summer of '04 for $119,000.

[SHOFEAR]

What the hell.... ICON II.....over $500 000 with all the upgrades and taxes bought in February. Don't think I've seen any value increase yet.

Damn all of you.

[Coldrsx]

50x150ft. (http://www.edmonton.ca/ZoningBylaw/DC2/200/DC2_268.htm)


7500sqft...perfect size for a 1level UG parking with 4 above and townhouses fronting.

25-30 units or so.

[JAH]

Fri, March 30, 2007

Home price explosion hits capitalEdmonton's real-estate jump doubles rise felt in Calgary
By BILL KAUFMANN, SUN MEDIA


Edmonton's rapidly shedding its role as a real estate bridesmaid to Calgary with an increase in house prices double the Stampede City's over the last year.

Alberta is once again the main engine of home-cost growth in Canada, reports Royal LePage Real Estate Services, but Edmonton is now the city firing on all cylinders with a 54.4% increase from the first quarter of 2006 to the same period this year.

By contrast, Calgary prices rose 27.4% -- still well above the national average of 11%, stated the report, noted Richard Corriveau, senior adviser for the Canada Mortgage and Housing Corp. (CMHC).

"It's a function of record demand with supply in Edmonton similar to the conditions that existed in Calgary a year ago," he said.

Still, the cost of an average house in Calgary in February was greater than in Edmonton at $393,000 to $321,000 respectively, said Corriveau.

"We're not comparing apples to apples here -- Calgarians have typically higher-than-average incomes and will purchase different product than in Edmonton," he said.

While Calgary catches its breath after a scintillating home market year in 2006, Edmonton is making up for lost time and has more room to boost prices, said Jon Hall, spokesman for the Edmonton Real Estate Board (EREB).

"We've been saying for years our housing is under-priced," said Hall.

The surge is a surprise, with EREB predictions of a 6% hike in housing prices for 2006 easily eclipsed.