There are some interesting things happening in the Edmonton housing market as of 2013, and continuing into and throughout 2014. With the average single-family home price topping out at about $400K, many first-time buyers or budget conscious buyers found themselves thrust into the condo market as a means to an end. The rise in average price seems to a precluded many from the market altogether, but it’s had a much more profound effect than all that.
Changes to Come
$400K is a lot of money to most people and despite a great labor force and job opportunities in Western Canada, it’s a difficult amount of money to manage as a young family or bachelor. Obviously this speaks to why many of these people have sought refuge in condos, which average out at about