Edmonton's real estate market looking up
Edmonton's real estate market appears to be fairing better than others across the country.
Tuesday morning, the Realtor's Association of Edmonton released figures from last year showing the price of a single family home dropped $30,000 in 2008.
At the start of 2008 single family homes started at $383,022 and by the end of the year dropped to $351,870.
Condo prices also dropped in 2008 starting off at $253,270 and finishing off at $234,286, totaling a $19,000 decline.
"We started to correct well ahead of most of not only Canada, but most of the world actually. We started in the mid of 2007 to correct and as a result of that we are going to see recovery happen quicker in Edmonton than in a lot of markets", said Marc Perras with the Realtors Association of Edmonton.
The Realtors Association of Edmonton will unveil it's outlook for 2009 on Thursday.