Northeast – Canyon Ridge – 451 Hyndman CR complex
- 1250 sqft townhomes
- Were asking 230K-240K in May ’09
- Are asking 270K in May ’10
Northwest – Cumberland – 13215 153rd Ave NW complex
- 1250 sqft townhomes
- Were asking 300K in May ’09
- Are asking 340K in May ’10
- 1825 sqft townhome
- Were asking 350K in May ’09
- Are asking 348K-410K in May ’10
West – Ormsby Place – 64th Ave – 178th St complex
- ~1040 sqft bi-levels
- Were asking 212K-218K in May ’09
- Are asking 190K-195K in May ’10
Central – Downtown – 10125 – 109th St complex
- ~911 sqft apartment
- Were asking 220K in May ’09
- No identical units currently available (there are 800 sqft and 1000 sqft units both asking 195K FWIW)
Central – Downtown – 10024 Jasper Ave complex
- 465 sqft apartment
- Were asking 155K-160K in May ’09
- Are asking 136K-155K in May ’10
Southeast – Ellerslie – 230 Edwards Drive complex
- 1200 sqft townhomes
- Were asking 240K-260K in May ’09
- Are asking 255K-300K in May ’10
Millwoods – Meyonohk – 2703 79th St complex
- 950 sqft carriage homes
- Were asking 180K-200K in May ’09
- Are asking 160K-175K in May ’10
Southwest – Sweet Grass – 11255 – 31st Ave complex
- 800 sqft apartments
- Were asking 130K-140K in May ’09
- Are asking 137K-165K in May ’10
Southwest – Queen Alexandra – 7907 – 109th St complex
- 940 sqft apartment
- Were asking 361K in May ’09
- Are asking 361K in May ’10
Southwest – Haddow – 2503 Hanna Cr complex
- 1144 sqft apartment
- Were asking 275K in May ’09
- Are asking 270K-300K in May ’10
St. Albert – Woodlands – 260 Sturgeon Rd complex
- 1050 sqft apartment
- Were asking 250K in May ’09
- No identical units currently available (there is a 1250 sqft unit for 280K)
Sherwood Park – Lakeland Ridge – 115 Chestermere Drive complex
- 1200-1275 sqft townhomes
- Were asking 295K-316K in May ’09
- Are asking 305K-316K in May ’10
It’s a real mixed bag. Several are up, well over 10% in some cases (the city median condo price is up 6.8% from a year ago)… but some are also down, and also by as much as 10%. That’s quite a range, and another sign of a market that is quite unbalanced.
One observation of mine is that it seems the properties at the higher end seemed to generally fare better, while those at the low end tended to struggle more often than not. Given the plunge in interest rates this isn’t surprising, as it would allow people to finance larger sums, and thus afford to pay more and start higher on the property ladder.
This also complements the knowledge of the strength of detached home sales relative to condo sales witnessed in the last year… people were going bigger with the increase in available financing that low interest rates allowed.
In anycase, such mixed findings again suggest that even with the strong sales of last year, we’re still very much a market in flux… and the explosion of listings this spring is only going to make things worse. Prices still appear to have little support, and when interest rates return to normal levels that will again become very apparent.