Housing Market Gaining Ground

The average house price in Sherwood Park is falling, but the number of sales increased from June 2008
By Tessa Clayton News Staff
Posted 1 day ago


The Realtors Association of Edmonton reached its yearly midpoint at the end of June and feels that the local real estate market has regained some stability.

“Buyer confidence, especially among first time buyers, was evident in Edmonton despite lingering economic concerns in other markets,” Charlie Ponde, president of the Realtors Association of Edmonton, said in a press release.

The association works throughout the greater Edmonton area, and findings released on its website, www.ereb.com, showed that last month, 137 homes in Sherwood Park were sold through the Realtors Association of Edmonton, averaging about $407,149 each. The number of residential homes sold was up from last June yet the average selling price dropped by over $11,000 from last year. That being said, housing prices did increase from April through June this year.

The months of April and June saw 552 homes listed for sale in the Park, with 502 of those being sold. Currently, the average selling price for a residential home in Sherwood Park is $370,404 and can be expected to be on the market for about 41 days.

“Last year prices fell from the high point in March,” Ponde said in a press release. “This year prices have just continued to climb.” Ponde did note that while house prices tend to decline in the second half of the year, the change would not be a sharp one if it did happen.

tessa@sherwoodparknews.com