House on the Prairie

In 2016, the aver­age home price in Al­berta was $394,517. What will this buy you across the prov­ince?

Alberta Venture - - The Briefing -

>>> THERE’S NOTH­ING SUR­PRIS­ING to re­port about Al­berta’s real es­tate. The sec­tor man­aged to re­main rel­a­tively sta­ble as the econ­omy tum­bled. While Cal­gary’s com­mer­cial real es­tate sec­tor was hit hard, the aver­age res­i­den­tial price fell just one per cent year-over-year, to $460,837 in the fourth quar­ter of 2016. The de­cline is greater in Ed­mon­ton: 2.7 per cent to $366,653. James Mabey, chair of the Real­tors As­so­ci­a­tion of Ed­mon­ton, called 2016 a steady year. “The on­go­ing eco­nomic in­sta­bil­ity cer­tainly af­fected unit sales and in­ven­tory, but sale prices con­tin­ued to hold,” he says. So, if you have $400,000 burn­ing a hole in your pocket, here’s what’s on the mar­ket.

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