by Doris Jolicoeur, CD, ABR, CCSP Associate Broker/Realtor, Professional Realty Group Mortgage Associate, Verico Brokers for Life
It seems that the increased activity in Morinville experienced a slow down in the month of May. We are now showing normal activity and price fluctuations compared to the last few months.
Last month, Morinville saw 27 single family homes and eight condos sell at average prices of $356,805 and $235,563, respectively. This is a 0.5% decrease over April’s average single family home price of $358,657, and a 3.9% increase over March’s. A year ago last month, the average price was 3.3% higher and 2.8% lower in 2012. Morinville’s average home is now priced at 18.2% less than Edmonton’s and 22.3% less than St Albert’s. The average price in the whole of the Greater Edmonton Area in May was only 18.6% higher.
Morinville homes took 57 days to sell last month, which is a decrease of two days from April, nine days less than in March, and in 2013, they took only two days less to sell. It took a Morinville home 23 to 26 days longer to sell than average Edmonton and St. Albert homes.
In May, the MLS system reported 2,085 new listings and 1,213 units sold giving us a 58% ratio in the Greater Edmonton Area. Morinville proper showed even lower ratios.
While Edmonton and St. Albert average homes continue to see multiple offers, I wonder why we in Morinville do not. This could make the home buying process in Town less stressful than in the larger communities.