Edmonton – The REALTORS Association of Edmonton is predicting steady growth in the housing market for 2014.
In its annual housing forecast, the association forecasts MLS sales will increase by about three per cent for the year.
President Greg Steele anticipates the sale of single family homes in Edmonton to stay static, but the number of sales of condo, duplex and rowhouse sales to increase by 2.5 per cent. Steele believes these properties will become a commodity for first time buyers.
The average price for a single family detached home is also forecast to increase about three per cent over 2014, while the condominium property average price is expected to jump up about two per cent.
“Market growth is always good for the seller who can expect to see a capital gain on their property,” said Steele.
“But it is also reassuring for the buyer who can expect steady growth upon entering the market.”