by Doris Jolicoeur, CD, ABR, CCSP
Associate Broker/Realtor, Professional Realty Group Mortgage Associate, Verico Brokers for Life
The hot summer is gone and it seems Morinville’s hot housing market might also be gone.
Last month, Morinville saw 20 single family homes and four condos sell at average prices of $353,260 and $182,628, respectively. This is a 2.7% increase over July 19 single family units at $344,094. In June, Morinville home prices were 7.6% lower. Year over year, housing prices in 2013 and 2012 were lower by 0.7 and 12.4%.
Morinville’s average home is now priced at 18.4% less than Edmonton and 24.8% less than St Albert’s. The average price in the whole of the Greater Edmonton area was only slightly affected by Edmonton’s outlying areas as the average home price was only about $2500 higher than the City proper.
Morinville homes took 61 days to sell, which is a increase of 30 days from July, 24 days longer than in June, but they took 18 less to sell than in 2013. It took a Morinville home 18-23 days longer to sell than average Edmonton and St Albert homes.
In August, our MLS system reported 1353 new listings and 924 units sold giving us a 68% listing to sales ratio in the Greater Edmonton Area. It seems that for that, we experienced an very average month.
I’d have to say that since fall has arrived, so has the slight fall in the housing market.
Morinville is on the edge of a building boom with lower prices the the cities, you see the same with towns around Calgary