The Realtors Association of Edmonton is expecting the housing market to remain stable this year, with prices slated to increase slightly.
"Mortgage interest rates are expected to remain stable through 2012 and there will be balanced demand on both the buyer and seller sides of the market," said Doug Singleton, President of the Realtors Association of Edmonton.
The Realtors Association of Edmonton says it expects single family detached home prices to increase on average by two per cent over the year, with condominium prices seeing an increase of just one per cent.
A single family detached home that sold for $372,000 in December of last year will be priced at $380,500 at the same time this year. The association says condos are currently selling on average for $230,000 and will increase to $237,000 by next December.
"This is a balanced market with great opportunities for both buyers and seller," he said.
The city's chief economist John Rose says Edmonton is strong in job growth, and predicts the housing market growth a little higher than the realtors at four per cent.
With files from Sean Amato
