In 2016, $434,500.
The average price of a house in 2016 was about $434,500. Of course that is just houses – single family, detached houses. In Edmonton, there are many kinds of homes of course and many of them are houses, but this does not completely describe the housing market. What people like to know is the house price, so I have taken everything out of the equation except free-standing houses.
These are over the year prices, so keep that in mind as well – prices change constantly. And what’s more, these are selling prices. Asking prices are a different matter. For example, the average asking price for a home in 2013 in Edmonton was around $463,000 and the average selling price was $415,000. But again, that is just part of the story. A lot of those houses didn’t sell. The average asking price of homes that sold was much lower than that, but higher on average of course than the average selling price. There are a lot of average prices and average prices are useful, but actually the most accurate price is actually the median price (or middle price) of homes. With this many homes for sale, the average should do in this case, however. Let’s look at some prices over the years.
To give an idea of what prices mean today, house prices (rounded to the nearest $500) from 2008 to 2013 today were:
• 2008 – $ 386,500
• 2009 – $ 375,500
• 2010 – $ 391,000
• 2011 – $ 386,000
• 2012 – $ 399,500
• 2013 – $ 415,000
• 2014 – $ 433,000
• 2015 – $ 437,000
• 2016 – $ 434,500
And here are the prices in a chart:
So prices on average have gone up some years and down others. And if you looked at a chart of prices by month, they would fluctuate wildly with the time of year and market forces. I hope this gives an idea of what an ‘average’ house costs in Edmonton.
Wondering about condo prices in Edmonton? See my answer here.
*All pricing information is gathered through the Edmonton Real Estate Board from the MLS® system.
by +Alan F Macdonald REALTOR® | Copyright © – gimme-shelter.com