Alberta Arts Home Sales Report for May '10

Alberta Arts neighborhood had 69 active listings in May with 8 successfull closings. And this area is back under January 12% sell-through levels at 11%. I’ll be curious to see how many homes continue to close in June as we wrap up the April 30th contract deadline for the 1st time home buyers. Even with the new estension, I forsee that only impacting short sale contracts which are taking longer to close–not impacting regular normal closings. Looking at the 5 month trend, the average sales price has plummeted since January’s $305k to May’s $247k….Yikes.B Top 75th percentile is $309k, mean is at $230k and the lowest quartile is $181k. Not sure when the last time was that homes were being snapped up at $181k in Alberta….

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