Parkallen At A Glance
Homes in Parkallen
• Average Asking Price (2012): $407,800
• Asking Price Range (2012): $145,000 to $686,900
• Average Home Size (Approx): 1140ft²
• Size Range (Approx): 550ft² to 2300ft²
Parkallen Real Estate Market
• Hot Market Index (2012): 59.9 °G
• Absorption (2012): 62.1%
• Buyer Willingness (2012): 94.7%
• Desirability Score (2012): 93.0/100 (Very desirable)
• Dilapidation Score (2006)*: 13.8% (Okay)
Amenities
• Accessibility Score: 49 homes per point of access (Excellent).
• Parking: Very good.
• Transit: 10 bus stops.
• Parks: 2 parks within neighbourhood boundaries
Location & Description
Parkallen is built on a modified grid with narrower streets and treed boulevards. A quiet neighbourhood with excellent access to the University area, but no through traffic, Parkallen is a great family neighbourhood with an elementary school and a bit of park land.
The homes in the area are fairly expensive because of the location in general and asking prices range from $145,000 for a condo to $686,900 for a large home – average asking prices are just over $400,000. Sizes of homes range anywhere from 550ft² apartments all the way to 2300ft² two-storeys, but average is a reasonable 1140ft²
The area is quite desirable, with only 6% of the owners in the area interested in selling. The Hot Market Index is quite high for the area as well. I think this shows quite the interest in the inner city and especially areas just south of the river. The area is so beautiful and the prices are still pretty good, so I bet interest continues to grow for Parkallen. Currently the Index is at a very warm 59.9 °G – much higher than most neighbourhoods. I would say that Parkallen would be a good investment for a the future. Once people realize how great it is, those prices are likely to rise.
Parkallen is located in Edmonton real estate zone 15 along with McKernan, Allendale, Queen Alexandra, Garneau, Windsor Park and the University of Alberta.
There is a good mix of property types in Parkallen. 65% houses (mostly bungalow and semi-bungalows), 20% low-rise apartments, 14% semi-detached homes (like duplexes and triplexes). And the remainder is from a high-rise in the area.
Occupancy in Parkallen is very close to the City of Edmonton average. That is, there are 62% owners and 38% renters in the area. Pricing of homes is what affects rental rates the most, and these houses are quite expensive still, so there are not as many investors as there would be in less expensive neighbourhoods.
Condos in Parkallen
There are only 4 condo buildings in Parkallen, they are:
• Beau Park – 6815 112 St
• Park One East – 11120 68 Ave
• Park One West – 11140 68 Ave
• Parkallen Pointe – 6720 112 ST | A no-pet, low-rise apartment built in 2011
Schools in Parkallen
Elementary:
Parkallen School – 6703 112 St |780 434 8503
Junior High:
~ None in this neighbourhood
High Schools:
~ None in this neighbourhood
Other Schools:
~ None in this neighbourhood
Parks & Recreation
There are 2 City parks in Parkallen. They are:
• Ellingson Park – 11104 65 Ave
• Violet Archer Park – 10920 70 Ave
Access & Parking
Access to and out of Parkallen is decent with 19 points of entry/exit. That’s one street for every 49 houses, so getting around even during rush hour should be reasonable. Distances to the University of Alberta, Downtown and Southgate Mall are quite good as well.
Parking in the area shouldn’t be a problem either. Besides some narrower streets, there should be no restrictions on parking in Parkallen. The area is far enough from the University and Whyte Avenue to have any parking restrictions.
Transit
There are 10 bus stops in Parkallen, giving a transit score of 940/10, or 94 homes per bus stop – not bad at all. Catching the bus shouldn’t be too difficult, and there is always the LRT station close by at South Campus Station near Foote Field.
* Source: 2006 Census of Canada, Statistics Canada
by +Alan F Macdonald REALTOR® | Copyright © – gimme-shelter.com
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